Cameroon-China Cooperation: Business People Exchange Towards Future Investment
Investors advocate clearer land acquisition policy, increased water and electricity supplies.
Over 50 Chinese and Cameroonian entrepreneurs have asked questions and received answers on investment opportunities in Cameroon, reforms and business climate. The exchange was organised by the Investment Promotion Agency of Cameroon (IPA) at the Cameroon Embassy in Beijing, China, as a sideline event of the 2018 Forum on China-Africa Cooperation September 5.
“We have taken advantage of the Beijing Summit to hold discussions and exchanges with Chinese business people and potential investors in a bid to present opportunities in the investment arena in Cameroon. Our goal is to make them know the attractive, favourable and wooing laws and reforms that today characterise Cameroon’s business climate, and these await them. Cameroon is a good risk; there is peace and stability and establishing partnerships with local investors will be win-win,” Marthe Angeline Minja, General Manager of IPA, underscored the importance of the event.
Meanwhile, Cameroon is gunning for good, productive investments and agroindustry is very attractive and investments are encouraged in this area. Huang Jianbing, Chief Executive Officer of Gaoda International Investment Trading Ltd, a Chinese consulting firm based in the Cameroonian capital Yaounde, has a 16- year experience being in Cameroon.
“It is a very good moment for us business people to come here to discuss and meet each other. Cameroon is very active in investment and there are a lot of opportunities for both Chinese and Cameroonians. Beside cultural issues, laws and policies, an investor has to establish good contacts with the local people too,” Huang stressed.
He proposed a revision of the land provision system in order to make such a policy clearer. “I think there will be more Chinese investments around the Kribi deep seaport. There is therefore need for more water and electricity supply in the town and we want to know if the government will be more favourable to Chinese investors.
We want to know the policy to adopt because the Chinese will like to establish many industries within with the foreseen creation of an industrial park in Kribi. If we know this, we can better advice and encourage many Chinese to invest in Kribi,” he proposed.
Biya Motto, General Manager of Hydro Mekin, a structure that produces 15MW of electricity in the South Region of Cameroon, called on potential investors to take advantage of the surrounding dam and power plant to develop tourism, agriculture and fishing industries.