Pack Industry S.A; a company involved in the production of cartons, is set to receive a speacial incentive from Cameroon’s Small and Medium Sized Enterprises Promotion Agency (APME).
Going by an agreement signed recently between officials of both institutions, Pack Industry S.A will be exonerated from tax and custom duties as well as exempted from paying value added tax on the importation of equipment and industrial materials.
Observers hold the incentive will have a direct socio-economic impact in the country and ease the production process of cartons by the enterprise, thereby reducing imports of the product. According to the President of Pack Industry S.A, the incentive will help increase the production capacity of his enterprise as the company is poised to renew its production factory and equipment.
APME, it should recalled, assists small and medium sized enterprises willing to invest, create wealth and provide decent jobs to Cameroonians. Between 2015 and 2017, the agency accorded incentives to some 24 SMEs based in Douala, Yaounde, Tibati, Maroua, Foumbot, Bafoussam, Bangou and Limbe, official reports states.