African Development Bank presents results of business environment study in Benin
The African Development Bank presented the results of a study on the business environment in Benin during a workshop in Cotonou, by its representative office.
The workshop provided an opportunity to discuss the political, legal, regulatory and administrative framework for doing business, their sectoral environment, business creation, access to finance and the market and quality standards. Discussions also focused on the action plan resulting from the study, which should ultimately remove the major constraints weighing on the business environment in Benin.
The minister praised "the support of the Bank which, through this study, supports the Beninese government in its reforms aimed at improving the business environment and making Benin an attractive place for investors". He also "welcomed the support of the Bank and other partners who support the government's efforts for the development of the Beninese private sector".
The study resulted in a short and medium term action plan which should remove the major constraints of improving the business environment for the company, especially at the start-up phase, expansion and market access phase.
In this context, twelve recommendations were formulated relating, among other things, to the identification and transformation into opportunity of missing links in the supply chains, support in setting up projects, in seeking funding and in setting up Business services. Development and joint service centers.
It is also the strengthening of commercial courts, the establishment of a quality infrastructure, test and metrology standards, the establishment of a commercial information platform, investment and export promotion, and strengthening public-private dialogue.
For the country manager, "the results of the study have enabled the Bank to strengthen its knowledge of the Beninese private sector". He assured that the Bank would use this study as a strategic tool for dialogue with the government. "This study will also serve to identify priority intervention areas to support the development of the Beninese private sector," added Mr. Andrianarisata. John Andrianarisata called on the technical and financial partners to appropriate the results of the study for better harmonization and coordination of their interventions.
More than fifty actors of economic life were present: representatives of public administrations, structures for the promotion and supervision of the private sector, private sector organizations, banks and financial institutions, development partners and of civil society.
The African Development Bank has been present in Benin since 1972, with an investment volume that exceeds 1.5 billion US dollars. The Bank operates in the fields of energy, agriculture, transport, and governance. Its interventions are in line with its five strategic priorities called “High5”, with the Country Strategy Document and with the Action Program of the government of Benin for the period 2016-2021.
