Page 333 - Atouts Economiques Cameroun-2019-GB
P. 333

                 INVESTMENT CHARTER
GENERALITIES
In a bid to favour national and foreign invest- ment, Cameroon has had since 1984 an invest- ment code. To ensure the liberal evolution of the economy, this code was revised in 1990 with the accord of the World Bank. In the same light, a regime of franc zones was instituted for the attention of specific activities.
Due to the adapting of its economy to market conditions and deep transformations, led by the withdrawal of the State, it was deemed necessary to place under construction an new text to stimulate investment. This text was examined and adopted by the National Assembly in its spring session of 2002 under laws to define investment charters.
This upgrading demanded a prior reflection asso- ciating the public, private sectors and the civil society. it was about identifying at the internatio- nal domain, marked by globalisation, opportuni- ties and risks and at the national domain assets and handicaps. These necessities called for a simple device integrating all sectors of economic activity and defining new reports between the State and economic agents, notably of the pri- vate sector. The charter is also an answer to the challenge of competition and competitiveness.
On its part, the State pledged to facilitate, sup- port, incite, and promote investment generally, and private investment in particular to guarantee growth and rights of investors.
The charter prescribes general and particular obliga- tions in relation with their sector of activity. It puts in
place a mechanism of auto regulation of different sector policies enabling, if necessary, the elabo- ration of sector investment codes. It also puts at the disposal of investors a number of useful legal informa- tion.
The various structures in charge of ensuring regu- lation and competitiveness of Cameroonian eco- nomy are crowned by a council of regulation and competitiveness attached to the presidency of the republic. To the number of these structures, it is worth quoting the agency for the promotion of investment and exploitation placed under the supervision of the Ministry in charge of industries.
The charter is in conformity with the spirit of the investment charter of CEMAC adopted in 1999, as indicated above. It provides that the law of 1990 to create the free zone and Ordinance of 1990 to create the investment code be repealed:
• The reaffirmation of the choice of the economy to walk as mode of privileged economic organisation;
• The reaffirmation of the essential role of the State for the promotion of social and economic development;
• The acknowledgement of the entrepreneur's, investors and private company’s key role as crucial factors of creation of wealth and jobs must be sub- ject to particular attention from, not only the whole State machinery, but also from the entire society;
• The pledge to preserve the freedom of enter- prise and the freedom of investment;
• The commitment to maintain a secure macroe- conomic framework;
States adhering to the treaty of the Organisation for harmonisation of Business law in Africa (OHADA)
LES ATOUTS ECONOMIQUES DU CAMEROUN
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