BY NDUMBE BELL GASTON IN DOUALA
The Minister of the Economy, Planing and Territorial Administration, Louis Paul Motaze has called on GICAM and other employers associations in the country to introduce impacting reforms to have the economy more sustainable, competitive and to improve on the growth index.
The call was made at the launching of the 2018 Economic year at GICAM last Tuesday February 20 during the opening ceremony of a two day hard talk session with economic operators in the presence of the governor of the Littoral Region themed “The diversification of the Economy through the local transformation of raw materials”
The objective of this session was to share ideas on the reorientation of strategies to make the government more reliant on Small and Medium-Sized Enterprises (SMEs) in order to re-launch economic growth more than at any time in the nation’s history.
As spelt out in the theme, it was time to change strategies able to favour massive diversification of the economy and massive transformation of raw materials so as to enable the country have an advantageous standing at the world stage.
According to the President of GICAM,, Celestin Tawamba, while GICAM had a role to play to accelerate change, the government had to assist by creating facilities by deregulating the financial market through softening the burdensome fiscal, interest rate, and inhibitive guarantees that are inimical to small industries to access financing. Celestin Tawamba who prescribed frank, open and mutually beneficial dialogue also urged international donors to adapt to local realities instead of being too erratic and adamant to their cause.
In one of the Minister’s highlights, he cited President Biya stating “We do not consume what we produce and we do not produce what we consume” cementing it with the illustration that autosufficiency in rice and fish for example can drastically create positive change in our balance of trade. He then concluded that there is no reason for the government to backout in promoting such initiatives done by SMIs.