The government is under taking a FCFA 120 billion ambitious project to construct a ready-made site for the production and industrial processing of agricultural products in the Ouassa-Baboute locality in the Haute Sanaga Division in the Centre Region. President Paul Biya and his government have been bent on attracting more foreign investment in the country through a series of investment incentives put in place.
The government of Cameroon through the Ministry of Mines, Industry and Technological Development, has launched international tenders inviting interested bidders (companies or group of companies) to support the State in the construction, development, equipment, operation and management of Ouassa-Baboute Industrial Reference Technology Park (Technopole). The lofty project is aimed at setting up an industrial site for the production and processing of raw materials especially in the agro-industry sector. In effect, the government and her partner(s) will construct, equip the site as well as provide all other facilities necessary for industrialisation while enterprises will simply take up space and install their firms for business to begin.
From this perspective therefore, investment opportunities are multiple; firstly as construction and management partners of the site with the government or secondly as a tenant investing on the site. On both ways, investment opportunities are multidimensional. According to the Director of Technological Development and Industrial Property in the Ministry of Mines, Industry and Technological Development, Ndjali Beng, the government is preparing the environment (site) which is a pool of attraction for investors. A technopole, he said, is a call for investors. The site hosting the technopole, he stressed, has all necessary conditions for living with all basic infrastructure and services such as banks, insurance, telecommunication, water, electricity and other social amenities included. Mr Ndjali explained that there exist several advantages of a technopole such as tax incentives, accessibility to raw materials, synergy in sharing charges such as waste treatment, available trained human resource, and accessibility to research, reduced cost and risk amongst others. Many enterprises especially international companies have already indicated interest. Studies for the construction of the site that is designed to contain 108 enterprises (One and a half hectare per enterprise) but could even go up to 300 enterprises depending on the sizes of the companies.
Ouassa Baboute Agro-industrial Technological Park which is basically the development of new and innovative products will also consist of training centres for on-the-spot human resource development, research centre to solve enterprises problems. Measuring some 405 hectares for technological infrastructure and 539,389 hectares of agricultural production basin, the agro-industrial park to cost FCFA 120 billion will involve the production and processing of cereals, tubers and plantains, fruits and vegetables, essential oil and aromatics, milk and derivatives and cocoa amongst others.