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More than 300 potential investors2 from around the world were on hand for the first-ever Cameroon Diaspora Economic and Trade Forum3. Many agreed it was milestone4 in efforts to promote economic growth by encouraging cooperation between the government and its citizens living abroad.
The gathering5 followed a similar and generally praised meeting last June that was held to convince hundreds of Diaspora researchers to take part in projects back home.
The meeting was organized by the government and coordinated6 by Trade Minister Luc Magloire Atangana Mbarga.
He says the forum was held to look for the best ways to encourage investment from the Cameroonian Diaspora. He says remittances7 from Cameroonians abroad constitute one percent of the country's GDP but they need better organization to optimize8 investment contributions.
The government says the forum will be held annually9 and is part of a plan to raise Cameroon to the rank of an emerging economy by 2035. It says there's vast investment potential in mining, real estate, tourism, transport and agriculture. Authorities say the government plans to grant preferential treatment to Cameroonian investors abroad in helping10 them set up businesses.
Participants at the Yaounde round-table asked that several hurdles11 be cleared to reassure12 them of the government's goodwill13.
Many investors have been pushed elsewhere by such stumbling blocks as corruption14, high taxes, customs duties on imported goods and objections to dual15 nationality.
The trade minister says the government is aware of the problem and is taking measures to address investor1 concerns.
He says the government is working with the World Bank to improve the country's business climate and make it friendlier for investors. According to him, the judiciary, customs and taxation16 departments are undergoing reforms. Mbarga says the government is also devising an investor-friendly code.
Recommendations made at the Yaounde meeting include the creation of a Diaspora Investment Fund. It will among other things, reunite the resources of foreign-based Cameroonians, sponsor their projects in the country and also serve as a center for information on business opportunities in Cameroon.
Skeptics say the venture could be a well calculated move by the government to set up a strong Diaspora lobby to help clean up the government's battered17 image abroad ahead of next year's elections.
Over the years, anti-government associations abroad have blamed the government for stagnating18 growth, prevalent poverty, rampant19 corruption, and the silencing of dissidents, among others.
1 investor | |
n.投资者,投资人 | |
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2 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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3 forum | |
n.论坛,讨论会 | |
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4 milestone | |
n.里程碑;划时代的事件 | |
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5 gathering | |
n.集会,聚会,聚集 | |
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6 coordinated | |
adj.协调的 | |
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7 remittances | |
n.汇寄( remittance的名词复数 );汇款,汇款额 | |
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8 optimize | |
v.使优化 [=optimise] | |
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9 annually | |
adv.一年一次,每年 | |
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10 helping | |
n.食物的一份&adj.帮助人的,辅助的 | |
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11 hurdles | |
n.障碍( hurdle的名词复数 );跳栏;(供人或马跳跃的)栏架;跨栏赛 | |
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12 reassure | |
v.使放心,使消除疑虑 | |
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13 goodwill | |
n.善意,亲善,信誉,声誉 | |
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14 corruption | |
n.腐败,堕落,贪污 | |
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15 dual | |
adj.双的;二重的,二元的 | |
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16 taxation | |
n.征税,税收,税金 | |
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17 battered | |
adj.磨损的;v.连续猛击;磨损 | |
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18 stagnating | |
v.停滞,不流动,不发展( stagnate的现在分词 ) | |
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19 rampant | |
adj.(植物)蔓生的;狂暴的,无约束的 | |
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