First impact of the USA-Cameroon economic forum unveiled

The Cameroonian Ministry of the economy, Plan and regional development has just unveiled the first impact of the Economic Forum held on 5 and 6 August in Washington, D.C., on the sidelines of the first Africa-US Summit.

A memorandum of understanding (MOU) and a commercial contract has thus been signed between the Cameroon Water Utilities Corporation (CAMWATER) and the American consortium, Environment Chemical Coorporation General Electricity LLC, (ECC/GE), on the financing of the project for water supply in Yaoundé, the capital of the country.

Discussions were also held between officials of the Cameroon Railway Corporation (CAMRAIL) and the World Bank for the financing of local development of railway projects. In terms of contacts, MINEPAT reports that a Russian company called Africa Investment Agency, focuses on the mining industry in Cameroon, and Global Telehealth Group proposes to set up an assembly plant mobile health units in the country.

In the same vein, Fatpipe Inc., specializing in information systems and networks, offer a partnership for the implementation of a national system of telemedicine, Calvelt Foundation proposes the establishment of an investment fund, and Industrial Development Corporation (IDC) wants to set up a factory of manufacture of equipment for solar energy.

For their part, Neilly's Foods offers mentoring from local producers of cassava for export with an annual production of approximately 3000 tonnes to the United States and Hope IT Solutions Inc. wishes to install a hardware manufacturing plant in Cameroon.

The Economic Forum, we learnT, saw participation of 136 U.S. investors, 37 investors of the Cameroonian diaspora and 14 businessmen coming from Cameroon.