FCFA 52 bln to be invested in 9 industrial projects

Nine industrial projects presented to the Cameroonian government by local economic operators, have been declared eligible to benefit from the advantages provided by the April 2013 law on incentives for private investment in the Republic of Cameroon.

All these projects, which will be implemented in sectors as diverse as agro-industry, industry, food industry, hotel, health or industrial fishery, will total FCfa 52 billion in investments, and help towards the creation of 1,131 direct jobs, the Minister of Industry, Ernest Gbwaboubou, highlighted.

According to the statistics of the Investment Promotion Agency (API), before the signature of this new batch of agreements, 66 companies had already been declared eligible to benefit from the advantages provided by the April 2013 law, for a projected investment of approximately FCfa 893 billion and 30,200 permanent jobs to be created.

As a reminder, the April 2013 law makes provision for various tax and customs exemptions for beneficiary companies, for periods ranging from 5 to 10 years, during the installation phase as well as the production phase of said companies.