Page 191 - Atouts Economiques Cameroun-2019-GB
P. 191

                  Ministry of the Economy, Planning and Regional Development
The Ministry of the Economy, Planning and Regional Development (MINEPAT) strives to further accelerate growth, and to strengthen the planning and increase of regional development actions...
CURRENT GUIDELINES OF ECONOMIC POLICY
In accordance with the objectives of the GESP and the 2035 vision, the Government has iden- tified a few major lines in order to speed up Cameroon's progress towards emergence.
DIVERSIFYING THE ECONOMY
The country is committed, in this regard, to ensure continued creation of the conditions for genuine economic expansion by consolidating infrastruc- ture and diversifying the sources of growth, with the aim of improving the living conditions of the people. In fact, the authorities are well aware that no country can aspire to emergence without having adequate energy, road, rail, port and air- port infrastructures capable of creating an envi- ronment for the expansion of economic activity, and in this case, the private sector.
It is therefore necessary to go further, opting for areas of strong and sustainable growth through greater diversification of the national economy. Modern theories in this field indicate that econo- mic growth is a permanent process of technologi- cal innovation, modernization and diversification of economic activity.
TOWARDS INDUSTRIALIZATION AND STRUCTURAL TRANSFORMATION OF THE ECONOMY
Endowed with immense natural wealth, Cameroon’s raw material processing level is still low. Aware of this situation, the country envisages, as part of its Vision 2035, to become an emerging country by increasing the share of secondary sector in GDP to almost 40% by that date. In this momentum, a Master Plan for Industrialization (PDI) was adopted by the Government with the aim of increasing the share of manufacturing value-added from 10% to 23% in GDP.
A few growth-enhancing sectors, in particular, such as agribusiness, energy and digital techno- logy, have been identified therein.
Beyond this Industrialization Plan, a number of initiatives have been undertaken, in particular within the framework of the Cameroon Business Forum (CBF), to further private sector develop- ment in the dynamics of the diversification of the economy. Diversification that must operate both vertically and horizontally. Horizontally, it is a matter of diversifying the range of export products. As for vertical diversification it requires the creation of added-value and jobs locally through raw material processing. More than ever, it is equally necessary to use diffe- rent opportunities to locally produce a number of products that the country imports massively (such as rice and fish) and which put a severe strain on trade balance.
The priorities for action are clearly defined. This includes the completion of first generation pro-
jects and their commissioning; to ensure the>>>
The office of MINEPAT in Yaoundé
LES ATOUTS ECONOMIQUES DU CAMEROUN
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