In order to implement this new development policy indicated by Paul Biya, President of the Republic of Cameroon, the Ministry of the Economy indicates that 1371.5 billion CFA francs are needed to carry out this plan.
Three major areas articulate the three-year integrated import-substitution plan 2024-2026, namely: improving access to research, training and financing; improving the production, processing and marketing of agricultural products; and the securing and development of hydro-agricultural, pastoral and fishery areas with the added bonus of 1,278 million hectares of land for the cultivation of rice, corn, soya, etc.
While Paul Biya’s country is struggling to establish a real import-substitution policy, the National Institute of Statistics indicates that imports at the end of 2023 have cost more than 1,400 billion CFA francs, a deficit of the trade balance of 545.5 billion CFA francs.
