The Government of the Republic of Cameroon is structured on the French model, with a powerful Office of Presidency, Prime Minister and Ministers appointed by the Head of State, and a National Assembly comprising Assembly and Senate, elected by popular vote every four years. The Presidential elections are held every seven years. # To date the Senate has not been convened.
The President of the Republic is His Excellency Paul Biya, who has held the post since succeeding President Ahidjo in 1982.
Ministry of Economy and Finance Yaounde
The National Assembly meets regularly in Yaounde, the National Capital, from where decisions taken filter back through the system to small communities.
The national government has embarked on a major program of privatisation, determined to make the private sector the major economic force in the economy. Privatisation, apart from former government agriculture operations, includes water and sewer, railways, and Municipal services.
The Banking System has been restructured following a decision taken in 1988. The government believes the new order provides a stable background for economic growth, and the introduction of new banking entities.
A liberal political system.
A multicultural state with French and English being official languages.
An investment code that provides considerable economic and fiscal incentives.
Abundant natural resources, both mineral and agricultural.
Industrial Free Zones
The government has set up an authority offering very substantial incentives for overseas corporations to set up business in Cameroon.
The Consulate in Sydney can provide
full details of the code of practice, and can arrange the necessary appointments
in Cameroon for an application, and assist with formalities.
Basically the incentives offered include:
The Free Zone regime is available for an enterprise which produces goods and services exclusively for export, or for sale to buyers who reside outside Cameroon.
An enterprise which produces goods and services which wills not have deleterious effects on the environment.
Benefits: Streamlined administrative
Onsite Customer services, and immediate transfer of goods from port.
Exemption from all licenses and quote restrictions.
Potential to sell part of production to local economy.
10 year tax holiday on all taxes.
Flat 15% corporate tax in the 11th year.
Profit and loss carry forward during the tax holiday.
Financial Transactions Concessions:
Right to hold foreign exchange accounts in the domestic banking system.
Guaranteed right of transfer aboard of all funds earned and invested in Cameroon.
Trade related concessions:
Exemption from all existing and future import/export duties, taxes and imposts.
Exemption from Import Verification Program, i.e.. S.G.S., Veritas.
Exemption from local sales related taxes.
Labour related concessions:
Right to freely negotiate wages between employer and employees.
Automatic right to work permits for foreign workers, up to 20% of workforce.
Right to replace national social security scheme with a private scheme of equal or better value.
Right to install own power and telecommunications systems.
Preferential electricity rates, and port charges.
Exemption from price controls.
Trade Unions and Employer Groups in Cameroon.
Both groups operate within the economy. Details can be obtained from the consulate in Sydney.
Government level contact, can be arranged by
contacting the Sydney Consulate.
Please call Mr. Maxwell Shean, Hon. Consul. On (02) 9989 8414, feedback form or fax (02) 9989 8416
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