13 recipient industries sign investment agreement with govt

Investors have signed conventions with the State, to invest 180 billion Fcfa and create 2788 jobs in Cameroon. The rate of growth in the industries stagnated and hovers around 5% in average since 2009 in Cameroon, because of the weakness of the investments made in this sector.

The law passed and promulgated by the head of State since the April 18, 2013, laying down the incentives for private investment in the Republic of Cameroon to encourage private investment and increase the national production was slow to produce its expected effects, i.e. attract private investors.

In effect, their preparation has not always agreed the principal actors: on the one hand those whose desire to make the turnover and performance at the level of the tax and customs revenues and on the other whose ambition is to promote private investment by incentive measures truly attractive likely to create an industrial fabric local provider of jobs.

Two approaches difficult to reconcile in our economy. At the end of a long process of negotiation, the violins have been granted and the texts of application of the act of April 18, 2013 have seen the light of day. It was an imperative in order to ensure that the goal of attractiveness is intended.

The first 13 captains of industries selected for the relevance and the expected impacts of their investment projects have signed agreements on investment with the government. Recovery of our economy signing for the tamed of the government, the Minister of Mines, industry and technological development, Emmanuel Bonde said he is satisfied in admitting however that "this ceremony marks the culmination of a long process characterized by, inter alia, important reflections, whose major purpose, he stressed, was to find the best alternatives, in order to achieve the sustainable incentives, likely to promote the revitalization of our economy."

He welcomed the special contribution of the investment promotion agency (API) and the inter-enterprise Group of Cameroon (GICAM) who "accompanies this process". A compliment appreciated by the DG of the API, Martha Angeline Minja who did not hide his relief after the signing of the first conventions: "There have been mis-understandings; the investment promotion agency has sensitized the actors on the merits of the implementation of this act."