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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

7 - 9th of May 2014

Delivered by: Mr. Boma Donatus

Deputy General Manager

Investment Promotion Agency - Cameroon

H.E Paul BiyaPresident

H.E Philemon YangPrime Minister

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THE INVESTMENT PROMOTION AGENCY (I.P.A) IS :

• Para-statal Establishment with financial autonomy and legal

personality.

• Date of creation: 1st Septembre 2005

• Date of Comissioning: 22nd January 2010

• Technical Supervisory Ministry: Ministry of Mines, Industry and

Technological Development

• Financial Supervisory Ministry: Ministry of Finance,

• Organisation: Board of Directors composed of private / public and civil

society personalities.

• Management : - General Manager

- Deputy General Manager.

WHO WE ARE

Headquarters: YaoundeRegional Office: Douala

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INVESTMENT FACILITATION

& SUPPORT

DATA BANKOF INVESTMENT OPPORTUNITIES

POLICYADVOCACY

INVESTMENTGENERATION

INVESTMENT LICENSING

INVESTMENT PROMOTION

MISSIONSOF

THE I.P.A.

WHAT WE DO

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INVESTMENT FACILITATION & SUPPORT

• One - Stop – Shop for foreign investors to Cameroon

• Obtain visas for foreign investors;

• Welcome foreign investor on arrival.

• Arrange appointments with relevant structures on behalf of investors

• Where necessary accompany investors to meetings with government officials;

• Provide preliminary information to investors on possible sectors for investments.

• Respond diligently to investors inquiries.

• Act as unique interface between investors and government to guarantee transparency and accountability.

• Link investors to appropriate local partners.

• Focal points in major European countries (France, UK, Switzerland and Spain) to provide preliminary information on investment opportunities in Cameroon.

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INVESTMENT PROMOTION- Participate in investment & trade missions overseas.

- Market Cameroon as an investment destination to foreign investors

- Present investment opportunities in Cameroon to foreign investors.

MARKETING OF INVESTMENT OPPORTUNITIES- 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.

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INVESTMENT LICENSING

- Licenses Foreign Direct Investments under Law N°

2013/004 of 18th April 2013 Granting private

investment incentives in Cameroon.

- Follows up, in collaboration with the Ministry of Finance,

investors commitments contained in their licensing

agreements.

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HIGHLIGHTS ON NEW LAW GRANTING INCENTIVES TO INVESTORS IN CAMEROON.

- 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:- Creation of employment;

- Use of local national resources;

- Exports.

- Incentives applicable for: - 5 years installation phase

- 10 years exploitation phase.

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- 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).

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- Equally provides strong government commitments to facilitate

private investments in Cameroon.

- This include:- 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.

.

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- 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.

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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.

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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.

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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.

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SOME MAJOR BRITISH COMPANIES IN CAMEROON.

THANK YOU FOR YOUR KIND

ATTENTION

MORE INFORMATION ON OUR WEBSITE

www.investincameroon.net

WELCOME TO CAMEROON