Statement by the Head of State, read by the minister of Economy, Planning and Regional Development, during the work session opened on July 31, 2014, at 13 pm (Washington time), under the theme "Investing in Cameroon, the time is now."
•Cameroon’s Ambassador to Washington,
•The Chair of the Corporate Council on Africa (CCA),
•Distinguished Members of the U.S. Private Sector, Members of the CCA,
•Distinguished Public and Private Business Leaders,
•Ladies and Gentlemen,
First and foremost, I would like to thank President Obama for initiating this US-Africa Summit, the very first in the history of our relations.
It is within this context and as a prelude to the Summit that this maiden Cameroon/USA Economic Forum is taking place.
My country feels honoured by it.
I heartily thank the Chair of the Corporate Council on Africa and all its members for participating in the preparation and organization of this gathering.
By choosing to bring together American investors and representatives of Cameroon’s private sector and members of Government, the CCA made a bet based on trust. And rightly so.
Cameroon is here to invite you to participate in the development of its potential. In many respects, my country is indeed a land of opportunity. During the forum, the Cameroonian delegation, which includes Government ministers, private sector representatives and U.S. investors already operating in Cameroon, will present the said opportunities to you in detail.
In a word, note that:
-Cameroon is a stable country which enjoys a peaceful democracy;
-Its growth rate is rising: it currently stands at 5.5% in 2014, up from 4.6% in 2013;
-Major infrastructure projects are underway in sectors such as energy, ports, roads, agro-industry, mining, etc.;
-We have huge potential in the areas of energy, agriculture, forestry and mining;
-Our tourist industry is worth developing.
Investment opportunities abound in Cameroon. Incentives meeting international standards have been put in place.
Our business environment is the focus of an ongoing public-private dialogue. In short, investing in Cameroon is a good risk.
NOW IS THE TIME TO INVEST IN CAMEROON:
-through joint ventures, or
-by setting up your businesses in developed and serviced economic zones.
Therein, you will enjoy accompanying measures.
I hope that in the course of this forum, will make useful contacts for fruitful discussions that will lead to mutually beneficial projects.
I wish you every success in your deliberations. Thank you for your attention.-
Washington D.C., 31 July 2014
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