Govt meets private sector on economic zone creation

Government has begun concertations with actors of the private sector in view of inspiring them into creating economic zones in the country as well as anticipating ways of effectively rendering functional Law N° 2013/011 of December 16, 2013 regulating economic zones in Cameroon.

The objective is to increase trade, investment, create jobs and effective administration highly sought for in the country’s long-term development vision.

The Minister of the Economy, Planning and Regional Development (MINEPAT), Emmanuel Nganou Djoumessi chaired separate meetings with officials of Cameroon employer’s business cartel (GICAM), Federation of Cameroon Entrepreneurs (MECAM), Chamber of Commerce, Industries, Mines and Crafts (CCIMA), National Investment Promotion Corporation (SNI) and Syndicate of Cameroon Industries (SYNDUSTRICAM).

Speaking in one of the concertation sessions, Minister Nganou Djoumessi said there is no time to waste given that Parliament had deliberated on the draft bill and the Head of State promulgated it into law on December 16, 2013.

The legal instrument, the Minister noted, is a booster to the creation of economic zones by the private sector which creates wealth.

The law underlines that the creation of economic zones passes through the identification by a promoter in liaison with a concerned administration free land susceptible to hosting business ventures, justification of at least five viable companies having shown interest in investing in the economic zone, its financial strength to develop the zone as well as capability to financially support the development of the area.

Talking to the press after the discussions, the President of GICAM, André Fotso, said the cartel is fully prepared to participate in setting up the economic zones contained in the country’s emergency development plan which it participated in drafting.

“GICAM had already anticipated on the issue of getting sites where industries interested in setting up plants in the country, Cameroonian or not, could install.

We had already begun discussions with our members and we are fully ready,” he said.