West Region: IPA to sensitise private investors

The Management of the Investment Promotion Agency, IPA, is fine-tuning preparations to storm the West Region where they are expected to meet with the business community on June 22, 2016.

The team from IPA will be sensitising local investors on the investment-friendly law of April 18, 2013 on incentives for private investment.

The campaign is holding under the auspices of the Minister of Mines, Industry and Technological Development, Ernest Gbwaboubou.

It falls within the framework of the just-ended (May 18-19 May 2016) International Economic Conference on investing in Cameroon where it was noted that Cameroon was not well marketed both nationally and internationally, the Deputy General Manager of IPA, Donatus Boma, told Cameroon Tribune on June 14, 2016, in Yaounde.

Mr Boma said this has been a handicap to more foreign and local private investments in the country. The upcoming sensitisation campaign is also in line with the 2016 plan of action of IPA, endorsed by the Board of Directors, it was disclosed.

At the back of the field visits that will also take IPA to all the 10 regions of the country is the need to create awareness on investment reforms under implementation in the country.

Local investments are dwindling, with business persons unaware of the facilities government is offering via IPA, said Donatus Boma.

He stated that they came to the conclusion that files thronging into the agency were mostly from the Centre and Littoral Regions where IPA have offices. Going out to meet local investors in other parts of the country is therefore a means to conquer more local investors.

The agency is not however targeting particular group of business persons. He stated that; “The law of 2013 on private incentives is quite open. It touches every single field except for petroleum or mining which have special legislation.”

IPA’s Deputy GM said all that is required from investors are files that are submitted at IPA or at the Small and Medium Size Investment Promotion Agency for very small enterprises which does the same job.