(Business in Cameroon) – The Investment Promotion Agency (API) reached two Memorandums of Understanding with the Port Authority of Kribi (PAK) and the Mission for the Development and Management of Industrial Zones (Magzi). The deals, inked during the fourth edition of the Cameroon Investment Forum (CIF) in Douala on April 17, aim to streamline investor access to economic and industrial zones managed by these entities.
For PAK and Magzi, the focus will be on providing API with information about available economic and industrial zones. They also commit to prioritizing requests from entities channeled through API for land acquisition in these zones, explains Emmanuel Ako Tamungang, API’s strategy division leader. Meanwhile, API will promote these zones to investors, facilitating their access and acquisition, thereby streamlining procedures and formalities for economic operators. This collaboration includes establishing a single administrative window to simplify the implementation of this agreement.
Law No. 2013/11 of December 16, 2013, governing economic zones in Cameroon, defines an economic zone as an area equipped with infrastructure allowing entities to produce goods and services under optimal conditions. Industrial zones, on the other hand, are plots meeting technical and legal standards designed to accommodate industrial activities. Currently, Magzi’s land domain encompasses eight industrial zones spread across seven regions of Cameroon.
