Transcript THE INVESTMENT PROMOTION AGENCY

THE INVESTMENT PROMOTION AGENCY - CAMEROON
PRESENTS:
THE INSTITUTIONAL FRAMEWORK FOR INVESTMENT
PROMOTION AND FACILITATION IN CAMEROON AND
INCENTIVES OFFERED TO INVESTORS.
UK-CAMEROON
Trade & Investment Forum
H.E Paul Biya
President
7 - 9th of May 2014
Delivered by: Mr. Boma Donatus
Deputy General Manager
Investment Promotion Agency - Cameroon
H.E Philemon Yang
Prime Minister
WHO WE ARE
THE INVESTMENT PROMOTION AGENCY (I.P.A) IS :
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Para-statal Establishment with financial autonomy and legal personality.
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Date of creation: 1st Septembre 2005
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Date of Comissioning: 22nd January 2010
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Technical Supervisory Ministry: Ministry of Mines, Industry and Technological Development
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Financial Supervisory Ministry: Ministry of Finance,
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Organisation: Board of Directors composed of private / public and civil society personalities.
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Management : - General Manager
- Deputy General Manager.
Headquarters: Yaounde
Regional Office: Douala
WHAT WE DO
INVESTMENT
PROMOTION
INVESTMENT
FACILITATION
&
SUPPORT
INVESTMENT
LICENSING
MISSIONS
OF
THE I.P.A.
DATA BANK
OF INVESTMENT
OPPORTUNITIES
INVESTMENT
GENERATION
POLICY
ADVOCACY
INVESTMENT FACILITATION & SUPPORT
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One - Stop – Shop for foreign investors to Cameroon
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Obtain visas for foreign investors;
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Welcome foreign investor on arrival.
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Arrange appointments with relevant structures on behalf of investors
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Where necessary accompany investors to meetings with government officials;
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Provide preliminary information to investors on possible sectors for investments.
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Respond diligently to investors inquiries.
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Act as unique interface between investors and government to guarantee
transparency and accountability.
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Link investors to appropriate local partners.
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Focal points in major European countries (France, UK, Switzerland and Spain)
to provide preliminary information on investment opportunities in Cameroon.
INVESTMENT PROMOTION
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Participate in investment & trade missions overseas.
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Market Cameroon as an investment destination to foreign investors
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Present investment opportunities in Cameroon to foreign investors.
MARKETING OF INVESTMENT OPPORTUNITIES
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Provide potential investors with preliminary information on sectors they are interested.
Put in place a data bank of investment opportunity to potential investors.
POLICY ADVOCACY
- Propose to government measures aimesd at improving the investment climate in
Cameroon.
‐ Work with the Private Sector to address investment climate issues.
INVESTMENT LICENSING
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Licenses Foreign Direct Investments under Law N° 2013/004 of 18th
April 2013 Granting private investment incentives in Cameroon.
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Follows up, in collaboration with the Ministry of Finance, investors
commitments contained in their licensing agreements.
HIGHLIGHTS ON NEW LAW GRANTING INCENTIVES TO
INVESTORS IN CAMEROON.
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LAW N° 2013/004 OF 18TH APRIL 2013 applies to all types of investments except
those in:
- Downstream mining,
- Gas & petroleum exploration
- Provides TAX and CUSTOM incentives to companies who meet one of the
following eligibility criteria:
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Creation of employment;
- Use of local national resources;
- Exports.
- Incentives applicable for:
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5 years installation phase
- 10 years exploitation phase.
- Equally grants special incentives to companies investing in some priority sectors
such as:
- Agriculture and agro industry;
- Tourism & ecotourism;
- Real estate & low cost housing;
- Energy & water supply;
- Information and Communication Technology;
- Export promotion projects etc.
Special incentives can be cumulated with the common incentives.
- Provides incentives equally to existing firms who develop new businesses or who
carry out expansion of their existing businesses (re-investments).
- Equally provides strong government commitments to facilitate private investments
in Cameroon.
- This include:
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A specific visa and reception desk at all the airports of the country
and all diplomatic and consular services to ensure on the spot investment visas to
investors. Investor simply needs to present an invitation letter from the I.P.A.
- Granting resident and work permit to investors involved in any investment project
and employment contracts of more than two years to foreign investors.
- Issuing environmental compliance certificates related to relevant investment projects.
- Issuing land title and long term leases to foreign investors.
.
- The law creates a One-Stop-Shop within the IPA to handle the licensing
procedure;
- Puts in place a supervisory committee to ensure the respect of investment
commitments and settle investment disputes;
- Creates a joint Monitoring Committee supervised by the Prime Minister to
guarantee the stability of incentives provided to investors;
- Enshrines the principle of non discrimination of both foreign and local investors,
- Provides the rights to foreign investors to:
- Freely transfer dividends overseas.
- Buy goods and services in foreign currency subject to compliance with local rules
and regulation
- Hold off – shore accounts.
WHY CAMEROON
Stable Institutions guaranteeing long investments
Strategic geographical location at the entry into
Central Africa and to oil rich gulf of Guinea with
a population of about 350 million inhabitants.
Shares a 1500 km border with Nigeria from North
to South opening investors to a Nigerian market
of close to 200 million inhabitants.
Legal and statutory investment framework that
guarantees investment and free transfer of profits
and salaries.
80 percent of Cameroon lies within a massive
mineral belt with one of the world’s largest
occurrences of bauxite, iron ore, rutile, platinum,
cobalt and diamond etc.
A unique touristic destination with a diversity of
touristic resources such as Seaside tourism, Photo
Safari tourism, Hunting tourism, Cultural tourism,
Mountain and eco tourism, and Sports tourism.
Availability of competitive and highly trained
manpower for use in industrial establishments.
Availability of technical, higher education and
university establishments that graduate yearly more
than 10000 university graduates in various fields such
as engineering, marketing, law, human sciences,
medical sciences etc.
Significant investments in the energy sector to boost
local supply and cater for long-term demands of the
industrial sector
A flexible labor code that allows the hiring and firing
of workers without excessive state intervention.
Adhesion to the organisation for the harmonisation of
business laws in Africa (OHADA), which facilitates the
setting up of business in all the fourteen (14) African
member States signatories to the convention.
A One-Stop-Shop at the Douala Port to facilitate the import and
export transactions for investors,
Existence of institutions to oversee the implementation of
good governance practices in the public and private sector:
National Board for Financial Investigation (ANIF)
National Anti-Corruption Commission (CONAC)
Account/Audit Chamber of the Supreme Court;
Cameroon is signatory and member of Extractive Industries
Transparency Initiative (EITI).
The progressive building of a strong and independent
judiciary to guarantee human rights and economic freedom.
SOME MAJOR BRITISH COMPANIES IN CAMEROON.
WELCOME TO CAMEROON
THANK YOU FOR YOUR KIND
ATTENTION
MORE INFORMATION ON OUR WEBSITE
www.investincameroon.net