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Cameroon Investment Forum Exhibitors to substitute import with cereal production.
Cameroon Investment Forum: Exhibitors to substitute import with cereal production.
Exhibitors of the third Cameroon Investment Forum have been urged to seek ways to multiply the production of rice, fish and maize, in order to balance the import/export scale. Key resource persons at the event which rounded off in Douala recently observed that despite the nation’s huge potential to produce cereals and fish, FCFA 702 billion (20 per cent of import expenditure) is embarrassingly spent to import rice, maize and fish yearly. The exhibitors, business operators and investors that came from across the globe have sought ways of improving the disagreeable trade balance. Cameroon’s minister of Mines, Industry and Technological Development, Gabriel Dodo Ndoke, chaired the ceremony on behalf of the Prime Minister and Head of Government. The mines boss was accompanied by Trade Minister, Luc Magloire Mbarga Atangana, along with Dr Taiga, Minister of Livestock, Fisheries and Animal Industries. The third edition of the forum to sell business openings in Cameroon held under the theme “Industrialisation through Import Substitution”. Expatiating the theme’s context, Marthe Angeline Mindja, General Manager of the Investment Promotion Agency, regretted that huge amounts are spent to import what we can actually produce locally. The Prime Minister’s representative said the cherished economic growth can only be guaranteed if the nation cuts down imports to just what cannot be produced on home land. Ekoko Mukete, Vice President of the Cameroon Chamber of Commerce, saluted the initiative to organise the forum. He prayed on government to rigorously implement the recommendations put forward by the forum participants. The forum offered a rare occasion for economic actors to meet in plenary, at Business to Business, Business to Consumer and Business to Producer meetings.
Culled from Cameroon Insider