Cameroon is a very good risk- Minja Marthe

Despite security threats, participants in Cameroon Investment Forum (CIF) have touted the economic strengths of the country.

The Cameroon label remains good despite the security threats the country faces these days.

This is the line of force of the three days of the first edition of the Cameroon Investment Forum (CIF). From November 25 to 27, 2015, during the business meeting organized by the Investment Promotion Agency (API) in Douala, the country was presented as an economic oasis.

The basis of the argument is the predominance of proven local economic infrastructure: significant potential (human resources, agro-pastoral, fisheries and animal industries, water and energy, housing, public works, etc.), setting up a regulatory framework conducive to investment.

This is just to explain the structure of the seating theme "emergence through investment."

According to Angeline Minja Marthe, Director General of API, despite the worrying security situation, several circumstances hammer an idea that it will work.

"We want to reverse the trend through this movement, hoping that after the networking sessions for entrepreneurs, holders of business projects and investors, several partnership contracts can be realized quickly and knotted to make up time," said Angeline Minja Marthe. Also, the question of whether Cameroon is a good risk today, the Director General of API responded, "We think so, and we say unambiguously, yes."

With the present trade in Douala, heads of ministerial departments in charge of key areas have prompted traders to invest. This is to address concerns of the strategy paper for growth and employment (ECSD), adopted in 2009 by Cameroon. This program is an average annual growth rate of 5.5% in 2020. The industry and services sector has been identified as one of the priority sectors.

Can do better

Perrial Nyodog Jean, head of Tradex, approved of the forum and said it should be sustained. "We hope that other issues will emerge. I think that Cameroon is a great risk. Today is really the time for investors to come and settle in Cameroon. There are public-private partnerships that are set up. There are many projects. We have a country that has always evolved in peace," the marketer urged investors.

Sanjiv Thadaney, Indian and patron of RG and CO (specializing in the processing of marble), who has lived in Cameroon for 36 years, stated that the prospects are bright for business in Cameroon.

While he regretted the persistence of some pitfalls to its activities: "there are many things to review, he noted. We must welcome such investment with great speed, without dragging things. Some places take up slowly but in Cameroon, there are a lot of potentials."

Sonkoué Joseph, president of the NGO Afriboom, specialized in the promotion of Cameroon's business opportunities in Germany, meanwhile, believes that investing in Cameroon, is possible, but you have to adapt to local standards. "It is always difficult to invest. The know how and on what bases to launch investment. The procedures are not clear enough, not accurate, structured; perhaps it is at this level that still need to be redone," he said.

Unlike the previous reactions, Alexandre Aimé Carret Anguilet was satisfied by the actions of government officials who responded to his questions. Gabon and his delegation came to the CIF state to find projects that are underfunded.

"We had the opportunity to finance. Then we made an offer of funding. If approved, documents will be signed and it takes off from there," said the Gabonese businessman in Douala.