The Ministry in charge of the economy is dissecting possibilities of better involving private sector stakeholders in economic development in Yaounde at its annual conference
The new approach of the Ministry of the Economy, Planning and Regional Development, MINEPAT, in ensuring that Cameroon’s resilience to double shocks of falling oil and commodity prices as well as security threats is by putting the private sector in the centre-stage of all activities. Officials of the central and devolved services of the ministry started meeting with private sector stakeholders in Yaounde on January 26, 2017, to set the year’s agenda. The get-together themed; “Private Sector as an Engine of an Inclusive and Sustainable Growth,” strives to expand the business environment by stimulating private businesses in sectors that have not benefited investments.
The Permanent Secretary in the Ministry of the Economy, Jean Tchoffo, opening the two-day meeting on behalf of Minister Louis Paul Motaze, stated that; “We are expecting recommendations that keep the economy more robust.” He explained that institutional frameworks in place enable government’s new development priorities to permeate work with private investors. Cameroon’s free trade deal with the European Union (the Economic Partnership Agreement) was poised to succeed with stakeholders believing in togetherness as a leeway. Some private sector businessmen however noted that persistent administrative bottlenecks were stumbling blocks.
“Promoting National Champions” was the first sub-theme, analysed by Prof. Roger Tsafack Nanfosso, Rector of the University of Dschang. He stressed on stakes and challenges to development. The Director of the Economy and Programming of Public Investment in the Ministry, Isaac Tamba, enlightened guests on; “Developing the Private Sector Through the Promotion of Joint Ventures.”