Presentation on theme: "THE INVESTMENT PROMOTION AGENCY - CAMEROON"— Presentation transcript:
1 THE INVESTMENT PROMOTION AGENCY - CAMEROON PRESENTS:THE INSTITUTIONAL FRAMEWORK FOR INVESTMENTPROMOTION AND FACILITATION IN CAMEROON ANDINCENTIVES OFFERED TO INVESTORS.UK-CAMEROONTrade & Investment Forum th of May 2014Delivered by: Mr. Boma DonatusDeputy General ManagerInvestment Promotion Agency - CameroonH.E Paul BiyaPresidentH.E Philemon YangPrime Minister
2 WHO WE ARE Headquarters: Yaounde Regional Office: Douala THE INVESTMENT PROMOTION AGENCY (I.P.A) IS :Para-statal Establishment with financial autonomy and legal personality.Date of creation: 1st Septembre 2005Date of Comissioning: 22nd January 2010Technical Supervisory Ministry: Ministry of Mines, Industry and Technological DevelopmentFinancial Supervisory Ministry: Ministry of Finance,Organisation: Board of Directors composed of private / public and civil society personalities.Management : - General Manager- Deputy General Manager.Headquarters: YaoundeRegional Office: Douala
3 WHAT WE DO INVESTMENT PROMOTION INVESTMENT LICENSING INVESTMENT FACILITATION & SUPPORTDATA BANK OF INVESTMENT OPPORTUNITIESPOLICY ADVOCACYINVESTMENT GENERATIONINVESTMENT LICENSINGINVESTMENT PROMOTIONMISSIONS OF THE I.P.A.
4 INVESTMENT FACILITATION & SUPPORT One - Stop – Shop for foreign investors to CameroonObtain visas for foreign investors;Welcome foreign investor on arrival.Arrange appointments with relevant structures on behalf of investorsWhere 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.
5 MARKETING OF INVESTMENT OPPORTUNITIES Investment PromotionParticipate in investment & trade missions overseas.Market Cameroon as an investment destination to foreign investorsPresent investment opportunities in Cameroon to foreign investors.MARKETING OF INVESTMENT OPPORTUNITIESProvide 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.
6 INVESTMENT LICENSINGLicenses 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.
7 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 explorationProvides 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 phase10 years exploitation phase.
8 Special incentives can be cumulated with the common incentives. 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).
9 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 countryand 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..
10 Provides the rights to foreign investors to: 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 regulationHold off – shore accounts.
11 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.
12 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 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 sectorA 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.
13 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.