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Cameroon: Government declares crisis-hit regions economically damaged areas

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The government of Cameroon has declared the North West, South West and Far North regions of the country as economically damaged areas in a bit to attract investments.

In a degree signed Monday September 2, 2019 by the Prime Minister Head of Government Chief Dr Joseph Dion Ngute, the three crisis-hit regions of the country have been declared economically damaged zones.

This decisions aims at creating a favourable business atmosphere that would attract investors and as such guarantee a restart of economic activities in these areas.

Going by laws governing the country, declaring these regions as economically damaged zones favours any investment undertaken there with advantages like tax exemption for a period of three years.

Since 2013, economic activities have been crippled Cameroon’s Far North region following constant terrorist attacks from the Boko Haram Islamic sect.

The economic situation has not been quite different in the North West and South West regions victims of the socio-political crisis rocking those areas since 2016.

 


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