In its 2035 vision, the government of Cameroon has defined the framework for sustainable growth for the coming years. The vision anticipates significant investments and the development of key sectors that drive the national economy including Agriculture, Energy, Industry, Infrastructure, Information technology, Tourism and Transportation. Below are key highlights on opportunities in each sector.
Agriculture is the backbone of the national economy. The sector employs ~60% of the labor force. In terms of exports, Cameroon’s agricultural output accounts for more than half of non-oil export earnings. Many factors contribute to the success of the agro sector including:
- Great agro-ecological diversity
- Dynamism of the rural population
- Strategic geographic position
- Diversified production and resource base
- Dynamic national agricultural research system
- Great availability of farming land.
To date, the energy sector constitutes a highly strategic production factor. The development of this sector depends on implementation of major projects to revive growth.
The development of the industrial sector is a top priority for the revival of Cameron’s economic growth and fight against poverty. The industrial fabric is fast expanding and is quite diversified. It includes the following industries:
- Agri-food industry
- Extractive industry
- Chemical industry, and
- Iron industry.
Given the constraints associated with the liberalization of the economy and globalization, the government of Cameroon has readjusted its industrial policy to adapt to the new economic order.
The infrastructure sector occupies a primordial position in the Cameroon vision of Emergence in the year 2035. The sector program was elaborated in 2008 and is in the Growth and Strategy Paper (ECSD) adopted in 2009. Since the adoption of these documents, the Cameroon Government has committed itself to the implementation of several development projects, such as the construction of Kribi Deep sea Port and fixing of Lom Pangar, Memve’ele and Mekin hydroelectricity dams etc. These developmental projects are implemented with the assistance of technical and financial partners in the framework of bilateral and multilateral cooperation or under contracts of public-private partnership (PPP).
The Information and Communication Technologies sector is fast-changing due to the 1999 liberalization. Several private firms operate in the sector alongside Cameroon Telecommunications (CAMTEL), the incumbent. In addition, the rise of the Internet and the penetration of mobile devices have enabled the creation of new online services in banking, communication and healthcare.
Cameroon is recognized as one of the most popular tourist destinations in the world. The country has great tourist assets which only need to be developed. In this respect, the government of Cameroon launched an important project for the promotion of its tourist potential which hinges on the following objectives:
- Openness and development of tourist sites
- Deployment of effective promotion actions during international encounters
- Improvement of conditions for the reception of tourists in the country through the creation of information kiosks in Cameroon airports
- Organization of sensitization seminars in all the regions.
The transportation sector is increasingly given a place in the implementation of growth revival strategies in Cameroon. The objective is to rehabilitate and develop major, build new ports, revitalize air transport nationally and in the region.