The National Development Strategy 2020-2030 (NDS 30),which has the structural transformation of Cameroon economy as its main pillar, is based on accelerating the country’s industrialisation in order to achieve its ambition of emerging by 2035.
I n an era of globalised econo[1]mies, industrialisation is the linchpin of any country aspiring to modernity. With this in mind, the Cameroonian government has made the acceleration of industrial development the country’s economic priority under the NDS30. Indeed, through the NDS30, the long[1]term objective is to make Cameroon a newly industrialised country. This orientation is fully in line with the economic diversification policy adopted by the public authorities. Over the 2020-2030 period, the aim will be to increase the density of industrial production in order to satisfy not only domestic demand for manufactured products through import-substitution, but also external demand through more competitive, high value-added exports.
This will enable the country to play a more effective role in international trade, by catching up technologically and boosting its internal and external competitiveness. In terms of strategic objectives, the aim is to raise the share of manufacturing value added from 12.9% of GDP in 2016 to 25% in 2030, and manufacturing exports from 26.2% in 2015 to 54.5% in 2030. To achieve this, the public authorities intend to encourage the local processing of lo[1]cal raw materials, in order to increase added value, reduce imports of cer[1]tain goods and boost the country’s export supply.
The idea is to position the country on international markets, in an environment of fierce competition between economies as a result of globalisation. Priority sectors The aim is also to strengthen the country’s economic resilience and reap the benefits of economies of scale linked to the mass production of goods and services. With this in mind, the aim is to materialize the desire expressed in the Master Plan for Industrialisation, namely to make Cameroon a genuine switch (supplier of electrical energy), the breadbasket as the main supplier of agro-industrial products, and the equipment manufacturer (furniture) for the sub-region and Nigeria. The nine priority sectors are identified in the NDS-30.
These include energy, agro-industry and digital technology, as well as the forestry-wood, textile-clothing-leather, mining-metallurgy-steel, hydrocarbons-petrochemicals-refineries, chemicals-pharmaceuticals, construction-professional-scientific-technical services sectors. To this end, public authorities are inviting economic players in the targeted sectors to combine their efforts around a fruitful strategic partnership, with a view to establishing Cameroon’s industrialisation on a long-term basis, as a guarantee of the successful structural transformation of the national economy.
« Indeed, through the NDS30, the long-term objective is to make Cameroon a newly in[1]dustrialised country.»
By Adonis Abondo
Source : Emerging Cameroon
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