5 December 2017

Cameroon: Mines, Industry and Technological Development - Fcfa 10 Billion Proposed

The objective is to realize the Industrialisation Master Plan of the government.

A projected budget of FCFA 10,409 billion has been submitted by the Minister of Mines, Industry and Technological Development, Ernest Gbwaboubou, for scrutiny by the Finance and Budget Committee of the National Assembly.

Of the total sum, FCFA 4 billion 826 million will serve as public investment budget. The proposed amount according to the Minister will seek to realize four major programmes within the sector.

The defined four programmes include, the development of mines and geological resources, diversification and improvement of the competitiveness of industrial sectors, the development of technological inventions, innovations and institutional support to the mining and technological development sub-sector.

He stated that the proposed amount is destined to carry out the Industrialisation Master Plan of the government which is in line with the objectives of the Agenda 2063 of the African Union.

Besides working with the National Anti-Corruption Commission in the fight against corruption in the sector, other actions will be securing mining and geological sites while identifying more sites at risk and creating an updated map on geo-risks and geo-disasters.

Minister Gbwaboubou stated that the principal function of his ministery is to promote local processing of raw materials and to develop minerals in a bid to improve home industries, step up competitive mechanisms in international markets and the overall development of the country.

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