Attracting Investors : Gov’t Expands Partnership

As a mechanism to speed up the structural transformation of the Cameroonian economy by implementing productive and highly profitable projects as provided for in the National Development Strategy, the government proceeded yesterday with the signing of a framework agreement with Jampur International Fze (part of the Jampur Group of Companies which is a global group based in Dubai with a diversified portfolio and potential investments in several sectors). Heath, agriculture, mining and energy are some of the sectors to which investments will be made. Targeted initial investment is estimated at 500 million US dollars (approximately FCFA 281 billion). Under the supervision of the Prime Minister Head of Government, Joseph Dion Ngute, the Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey signed on behalf of the government of Cameroon, while the Chief Executive Office of Jampur International Fze, Mohammad Shafiq represented the group. 
The interest expressed by the Dubai-based group is to invest heavily in Cameroon in several sectors including heath, energy industry, agriculture, forestry and fisheries, machinery and productivity, transport and various infrastructure projects. They also intend to have a close and fruitful collaboration with the government of Cameroon to ensure better coordination of operations. The duration of the agreement framework is five years and can be renewed based on the request of either parties. 
Giving details on the pertinence of the agreement, Minister Alamine Ousmane Mey said it is in line with the promotion of public-private investments in the country and gives government the opportunity to attract foreign direct investments in areas of priority outlined in the national development strategy. The abovementioned sectors of investment, the Minister added, have credentials to offer to the population the possibility of produc...