Business

Cameroon – Industry: Cameroon Automotive Holding has already invested 1.4 billion FCFA in its project to assemble vehicles in Kribi

Written by Deckson N.

Lu Fuqing, one of the managers of the Cameroon Automotive Holding, a China-Cameroonian company that aims to build Chinese car assembly units in Douala and Kribi, reveals that the company has already invested a total of 1.4 billion Swiss francs CFA in this project.

The investment, it was learned, was mainly used to design the 20 models of vehicles exhibited in the Cameroonian capital since April 20, in order to allow local populations and authorities to test “Star of Africa, the Cameroonian brand And African designed and protected for this purpose, “says Lu Fuqing.

With a total cost of 92 billion CFA francs, the project to assemble Chinese vehicles in Cameroon follows an agreement signed on June 11, 2015 in Yaounde. It benefits from the 2013 law providing incentives for private investment in Cameroon, which grants tax and customs exemptions to companies over a period of 5 to 10 years, both during the installation and production phases.

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Deckson N.

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