A group of more than a dozen Spanish investors currently exploring investment opportunities in Cameroon have expressed their interest in building construction, public works, food processing, urban development, tourism and local material promotion. The investors who had earlier met other government officials, yesterday, November 23, 2011 had a working session with Prime Minister, Philemon Yang at the Star Building in Yaounde behind close doors.
The visit of the investors to Cameroon is the outcome of negotiations the Minister of Economy, Planning and Regional Development, Louis Paul Motaze had in Spain in July 2011. The Minister had on the occasion presented them with investment opportunities in sectors such as the Mfoundi Area Project that will comprise the construction of two towers, two hotel complexes, a conference centre, underground parking lot and urban development through the creation of a tourist site at the Yaounde Municipal Lake.
Mr Motaze also briefed the investors on plans to construct a series of slaughter houses, the preservation and processing of beef with production capacity likely to supply the domestic market as well as the Central African Economic and Monetary Community (CEMAC) zone and neighbouring Nigeria. Another area of interest was the development of the fishing sector in Cameroon.
Before the working session with the Prime Minister, the Spanish investors had already received vital information on the economic potentials of Cameroon. The Minister of External Relations, Henri Eyebe Ayissi at the start of the working exploration visit, presented Cameroon as a country with a strategic position in the Gulf of Guinea and leader in the CEMAC zone with stable political institutions. The Minister of Economy, Planning and Regional Development, Louis Paul Motaze presented Cameroon’s economic situation and favourable investment climate, stating the expected contributions of development partners.
