Cameroon joins the African continent this 20th November to commemorate the 29th Africa Industrialization Day (AID).
The theme for reflection is “Promoting regional value chain in Africa: A pathway for accelerating Africa’s structural transformation, industrialization and pharmaceutical production”.
Commemorative activities were chaired in Yaounde by the Minister of Mines, Industries and Technological Development, Ernest Ngwaboubou.
The Industrialization process in Cameroon
The Industrialization sector in Cameroon has been ranked second after the tertiary sector.
On a number of occasions, experts have made a diagnoses of the stumbling blocks in the industrialization process in Cameroon. Some of these include ;
Bad governance, smuggling, high taxes, high cost of capital and labour.
As a remedy, a 2017 industrialisation plan is gradually being implemented. The plan is expected to jump-start key industries including;
# Wood processing
# Building and public works
# mining and Oil refinery
# Energy and water.
# The Pharmaceutical industry
With the implementation of the 2017 plan, Government projects an increase in Cameroon’s Gross Domestic Product (GDP) from 13%-24% by 2035.
The AID was adopted by the UN General Assembly on 20th November 1989.It is an opportunity to discuss the challenges faced by African countries in the industrial sector.
Kathy Neba Sina