Douala : Ways to Woo More Private Investment

Following day one discussions in the Douala Economic Forum, there is need to improve the existing enabling environment to woo more private investment in Cameroon.

Douala Economic Forum opened on a note that Cameroon's growth performance has strengthened in recent years but has depended largely on public investment, which has started to strain fiscal accounts, and to increase debt levels. With this, investors and economic and financial experts began to put their views together in view of encouraging the improvement of an enabling environment for the private sector to carry out more investment in Douala in particular and Cameroon at large.
Such a valuable discussion that harped on "The private sector and the challenges of development, the case of Douala" was panelled by representatives from Investment Promotion Agency (IPA), Cameroon business guild (GICAM) and Douala City Council (DCC) Salle des fêtes at Akwa on May 24, 2022.
Following the discussion,  economic growth has not led to equitable poverty reduction, largely due to spatial and social inequities, an unfavourable business environment including infrastructure lags, weak governance and private sector lag. All of this in spite of the vast potential to develop and build on its potential, such as transportation, energy, vital natural resources to ensure inclusive economic growth and poverty reduction.
IPA also contributed on assisting municipal councils in Douala to be able to attract more investors. The good news came when it was said IPA's recommendation during last year's forum that such councils should set up investment promotion offices or  services within the council structure was implemented giving the country's investment potent...

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