LOME, Oct. 24 (Xinhua) -- Togo was ranked 97th in the World Bank's "Ease of Doing Business 2020" report released Thursday, which measured regulations across 190 economies to assess their business environment.
Togo moved up 40 places from the 137th position last year and are among this year's top 10 most improved economies.
"Togo is on the list of top improvers for the second year in a row thanks to reforms lowering fees for construction permits and streamlining property registration procedures, among others," the World Bank said in a press release.
Togolese President Faure Gnassingbe welcomed the improvement of his country in a Facebook post.
"The position of leading reformer African country bestowed to Togo rewards, in all humility, all the efforts of Togolese people and strengthens our collective resolve to build a prosperous nation," he said.
Apart from Togo, the annual ranking also listed nine countries as the top improvers in their ease of doing business score, namely China, Bahrain, India, Jordan, Kuwait, Nigeria, Pakistan, Saudi Arabia and Tajikistan.