Economic areas to boost growth
On 19 April, the Head of State signed the enabling instrument of the 2013 law governing economic zones in Cameroon. This decree lays down the terms and conditions for the establishment and management of economic zones in Cameroon. An economic zone is an area made up of one or more developed and equipped geographical areas geared at enabling entities therein to produce goods and services in optimal conditions. Sectors of activity which fall within this framework defined by the decree include agriculture, arts and crafts, trade, free trade, industrial zones, technology centres, scientific poles, competitiveness poles, tourist complexes and so on.
The State and its field offices, local and regional authorities, consular chambers, state universities and private higher education institutions, members of consular chambers and organisations, employers' associations and foreign investors working in partnership with local organisations may be promoters of an economic zone. The existence of economic zones offers great advantages for production. They target most of the priority sectors in the implementation of the national economic policy, especially the sectors in which a country like Cameroon has more added values, both in relation to the national economy, sub-regional, regional and worldwide. For example, agricultural products, pharmaceuticals and timber products will help ease the import portfolio.
(Culled from Cameroon Tribune No. 11 833 of 26 April 2019)