The Groupement inter-patronal du Cameroun (GICAM) has just published a White Paper in which it ardently suggests the reform of the national economy by putting a point of honor on industrial development.
The document which the Prime Minister Joseph Dion Ngute qualified as being “an original, impressive, rich and useful contribution” devotes an important place to the need to develop an economic policy based on industrialization considered by the creators of wealth as a necessary step. towards an emerging economy.
According to the President of GICAM, Célestin Tawamba, “the White Paper establishes a flagship commitment of its executive and will henceforth serve as a breadcrumb trail for the Group’s advocacy. It is the result of a participatory process which involved all the committees active within the Patronage “.
Subtitled “The industrial imperative of Cameroon”, the document returns in particular to the choices of priority sectors of the Master Plan for Industrialization (PDI) which places an emphasis on agro-industry, transport and energy, in particular. proposing priorities in transversal and sectoral variations such as taxation, governance, financing and above all a reform of public-private dialogue.
So far, the government’s target of transforming at least 30% of raw materials locally is far from being achieved, worsening the trade deficit. According to the World Trade Organization (WTO), the trade balance is structurally negative. In 2018, Cameroon recorded a trade deficit of 533 million dollars and over the period indicated, the country imported 6.12 billion dollars of goods against 3.80 billion dollars for exports.
In a difficult economic environment reinforced by the health crisis linked to the Coronavirus, investors expect, for example, that the next finance law will give a breath of fresh air to companies, 96.6% of which are impacted by the Cvodi -19, reports a study by GICAM. The situation is more dramatic for small and medium-sized enterprises (SMEs) which constitute more than 90% of the economic fabric of the country, of which more than 10,000 production units could go bankrupt while more than 70,000 jobs are threatened.
