adminThe government in Douala has introduced a bill in parliament for the ratification of the convention on promotion and reciprocal protection of investments between China and Cameroon. The bill was introduced as the National Assembly held its first annual regular session.
The convention taken to parliament and the Senate for ratification and dates back to 1997 is informed by the realisation of the increasing importance of Chinese investment in Cameroon.
The Middle Kingdom, which is illustrated by investments in infrastructure, energy, water, transport and telecommunications fields, has recently become the largest bilateral investor in Cameroon with a portfolio of almost CFA 1000 billion.
Among projects ear-marked are the construction of the Kribi deepwater port (southern Cameroon), the first ship of which is expected to dock in June 2014, and the construction of hydro-electric dams of 211 megawatts (MW) and 50MW capacity respectively in Memve’ele (Southern Cameroon) and Lom Pangar (Eastern Cameroon).
Similarly, China is bankrolling a project to supply water to Douala and parts of Yaounde and other cities, including this year’s expected construction of 200 km-long Douala-Yaounde highway. – APA.
Online Reporter