Investment Promotion: Precast Material Company Gets Gov’t Support

La Societe CEMS 3D Pannel Cameroun Sarl signed a convention with the Small and Medium Sized Enterprises Promotion Agency (APME) on Thursday April 5, 2018.

A home-based company involved in the production of precast construction materials has successfully obtained incentives from the government. The government support to La Societe CEMS 3D Pannel Cameroun Sarl falls within the incentive and investment programme of the One Stop Shop of the Small and Medium Sized Enterprises Promotion Agency (APME).

A convention officialising the grant of the incentive was reached between government, represented by APME and the local enterprise, Thursday April 5, 2018. While the Director General of APME, Jean Marie Louis Badga signed for the agency, the Executive Officer of La Societe CEMS 3D Pannel Cameroun Sarl, Jean Paul Kenfack penned for his enterprise.

The government incentive will permit the beneficiary enterprise which has an investment budget of FCFA 1.9 billion to be exonerated from tax and custom duties. The enterprise will also be exempted from paying value added tax on the importation of equipment and industrial materials as it seeks to establish a panel manufacturing plant to produce precast concrete and other related pre-fabricated materials.

La Societe CEMS 3D Pannel Cameroun Sarl has the ambition of increasing its staff strength to 59 employees. Officials of APME said the socio-economic impact of the incentive are multiple. They cited job creation and income distribution, while it will contribute to development research as technology will increase rapidity in construction. The support is also expected to contribute to the improvement of the living conditions of the populations.

It should be noted that the support to the company engaged in the production of precast construction materials is coming at a time government is poised to increase social housing across the country.

In its ambition to make the private sector veritably vibrant, especially small and medium sized enterprises, the government through APME assists small and medium sized enterprises willing to invest, create wealth and provide decent jobs to Cameroonians.

Between 2015 and 2018, the agency has accorded incentives to some 24 SMEs based in Douala, Yaounde, Tibati, Maroua, Foumbot, Bafoussam, Bangou and Limbe.

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