The Small and Medium-Sized Enterprises Promotion Agency (APME) signed a convention with a beneficiary enterprise – Pack Industry S.A, recently in Yaounde.
In its ambition to make the private sector veritably vibrant, especially small and medium sized enterprises, government has again granted a special incentive to a local enterprise. Pack Industry S.A; a company involved in the production of cartons, will benefit from the incentive and investment programme through the One Stop Shop of the Small and Medium Sized Enterprises Promotion Agency (APME). A convention to this effect was signed in Yaounde, Wednesday February 21, 2018.
While the Director General of APME, Jean Marie Louis Badga penned for his institution, the President of Pack Industry S.A, Gabriel Kondo Ebele signed for the enterprise. Following the signing of the convention, Pack Industry S.A will be exonerated from tax and custom duties as well as exempted from paying value added tax on the importation of equipment and industrial materials.
This will have a direct socio-economic impact in the country as it will ease the production process of cartons by the enterprise, thereby reducing imports of the product. According to the President of Pack Industry S.A, the incentive will help increase the production capacity of his enterprise as the company is poised to renew its production factory and equipment.
Presently at a production capacity of 10,000 tons, Gabriel Kondo Ebele says they hope to up production to 12,000 tons with the new equipment acquired thanks to the government incentive.
He said the incentive will enable them create about 40 direct jobs, mostly for senior technicians, in the next four years. It should be noted that APME assists small and medium sized enterprises willing to invest, create wealth and provide decent jobs to Cameroonians. Between 2015 and 2017, the agency accorded incentives to some 24 SMEs based in Douala, Yaounde, Tibati, Maroua, Foumbot, Bafoussam, Bangou and Limbe.