IMPORT-SUBSTITUTION

This was during a workshop chaired by the Minister of Small and Medium-sized Enterprises, Social Economy and Handicrafts (Minpmeesa), Achille Bassilekin III, on 21 July 2022 at the Yaoundé International Handicrafts Centre.

The implementation of Cameroon's import-substitution policy is taking an increasingly important place in the country's socio-economic life. The policy aims to reduce the importation of products that the country can produce locally. It is with this in mind that the Minister of Small and Medium-sized Enterprises, Social Economy and Handicrafts (Minpmeesa), Achille Bassilekin III chaired a workshop on Thursday, 21 July 2021 to sensitize Very Small Enterprises and Small and Medium-sized Enterprises (VSEs/SMEs) on the need to ensure that import-substitution products comply with established standards. The workshop focused on three priority sectors likely to promote the expansion of Cameroon's industrial fabric, especially agro-industry, cotton-textile-garment-leather and wood processing.

The objectives of this workshop were to help improve the competitiveness of Cameroonian mass consumption products on the domestic and foreign markets through the promotion of quality, and to improve the domestic supply of targeted mass consumption products that meet the quality standards and reverse the tendency towards massive importation of similar products. Moreover, the workshop held on 21 July was part of the development of a productive private sector capable of boosting the competitiveness of national companies in the dynamics of the development of manufacturing SMEs. What better way to envisage a real expansion of the "Made in Cameroon" brand in the agro-industry, cotton-textile-leather and wood processing sectors. All of this in line with international and national market standards with a view to making all these products fit for foreign markets.

This option is in line with the objectives set by the National Development Strategy (NDS30), the government's reference for the implementation of public policies. Indeed, it is expected that for the next decade (2020-2030), the portion of the secondary sector in the GDP will increase from 28.2% in 2018 to 36.8% by 2030 (which includes agro-industry, cotton-textile-garment-leather and wood processing). "The strategic framework retained by the government includes nine industrial sub-sectors: energy, agro-industry and digital, but also the forestry-wood, textile-leather manufacturing, mining-metallurgy-siderurgy, hydrocarbons-petrochemical-refining, chemical-pharmaceutical and construction-professional-scientific-technical service sectors. In addition to industrial services, the development of the industrial sector will be accompanied by that of non-financial services. The final objective is to increase the added value of manufacturing from 12.9% in 2016 to 25% by 2030; and to increase the share of exports of manufactured products from 26.25% in 2015 to 54.5% in 2030.

Source: Eco Matin No. 544 MONDAY 25 JULY 2022