Cameroon Focuses on Legal Security to Boost Business Climate

The government of Cameroon, in collaboration with the French Embassy and The Okwelians think tank, recently organized a discussion in Yaoundé to explore ways to enhance the country's business climate. The event, held on the occasion of the Day of Law, brought together jurists, magistrates, public decision-makers, economic actors, and representatives of civil society and the judiciary. The focus was on the theme "Securing to invest: how to make legal security a lever for territorial attractiveness?"

According to Jean De Dieu Momo, Minister Delegate to the Minister of Justice, investors seek a healthy legal environment where commitments are respected and disputes are resolved within reasonable timeframes. He emphasized that legal security is not only a requirement of the rule of law but also a production factor, an instrument of economic confidence, and a competitive advantage for states. This perspective was shared by Achille Bassilekin III, Minister of Small and Medium-sized Enterprises, Social Economy, and Handicrafts.

The participants aimed to engage in a dialogue on the importance of legal security in attracting investment and promoting economic growth. Muriel Piquet-Viaux, representative of the French Ambassador to Cameroon, stressed the need for a change of paradigm in the current globalized and highly competitive economic environment. She emphasized that the rule of law must be adapted to meet the needs of investors and businesses.

The event was held at the headquarters of the Organization for the Harmonization of Business Law in Africa (OHADA). The objective was to bring together various stakeholders to discuss the challenges and opportunities related to legal security in Cameroon. The think tank, The Okwelians, and the French Embassy in Cameroon organized the event to promote a better understanding of the issue.

The business climate in Cameroon has been a subject of concern for investors and economic actors. The government's efforts to improve the legal framework and enhance transparency are seen as crucial steps towards attracting more investment. The discussion in Yaoundé highlighted the need for a coordinated approach to address the challenges related to legal security.

The participants acknowledged that a stable and predictable legal environment is essential for businesses to thrive. They emphasized the importance of an effective judicial system, clear regulations, and efficient dispute resolution mechanisms. The government has been working to implement reforms aimed at improving the business climate and attracting foreign investment.

The event concluded with a call for continued collaboration between stakeholders to address the challenges related to legal security in Cameroon. The government, The Okwelians think tank, and the French Embassy in Cameroon are expected to work together to promote a better understanding of the issue and develop effective solutions to enhance the country's business climate.

Key points

• The government of Cameroon is prioritizing legal security to improve the business climate and attract more investment.