Business Climate: Appropriate Improvement Required!

That Cameroon aspires to attain a middle-income economy status by 2035 is no longer news. So much has been said about the vision that critical observers easily qualify the much talk to more of politicking. Little or no achievement can be made anywhere without a dream. What however makes a difference is the path undertaken to attain the seemingly lofty objective. 
It is known to most, if not all, that becoming an emergent economy requires serious investments on which the economy relies. This entails serious actions from government, its development partners and the private sector to make the investment environment conducive for win-win ventures. In fact, the economic and professional environment surrounding an industry or group of business enterprises comprising the government and political attitude toward such businesses, their support for labour organisations, and their financial stability, among other aspects; as the business climate is known, plays a pivotal role in any investment.
Government puts in place administrative and legal instruments necessary to attract investments. She equally works with development partners to dot the country with requisite infrastructure capable of propelling any mutually-beneficial investment. All these with the understanding that no investor is a philanthropist and would only ‘risk’ his or her hard-earned money where profit margins are high. As a matter of fact, where they can minimize cost to maximize profits. Crime rate, level of infrastructure development, workforce participation, national security considerations, political stability, taxes, liquidity and solidity of financial markets, rule of law, regulatory environment, government transparency and accountability are therefore some of the aspects potential investors consider while prospecting anywhere.
President Paul Biya’s insistence during his 2023 end-of-year and 2024 New Year State-of-the nation’s address on December 31 on improving the business climate to attract investments therefore has to be taken seriously and appropriate actions engaged and vastly enough.  “Improving the business climate is clearly a prerequisite for attracting foreign investment and creating a robust private sector that should facilitate our transition to emergence through dynamic job and wealth creation,” as President Paul Biya put it, is the sure way to go. 
Cameroon can boast of investment-friendly legal instruments like 2013 Law on Private Investment Incentives in Cameroon coupled with specialised structures like the Investment Promotion Agency which works in collaboration with other public and private administrations and institutions to contribute to the development and implementation of the government’s investment promotion policy. It also provides public services to companies seeking or obtaining licenses under the Investment Charter and follow-up companies benefiting from the provisions of the law. But the investment climate is mor...

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