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Cameroon Automotive Holding has already invested FCfa 1.4 billion in its project to assemble Chinese vehicles in Kribi

Cameroon Automotive Holding has already invested FCfa 1.4 billion in its project to assemble Chinese vehicles in Kribi
  • Comments   -   Wednesday, 26 April 2017 18:47

(Business in Cameroon) - Lu Fuqing, one of the directors of Cameroon Automotive Holding, Chinese-American company which aims to construct a Chinese vehicle assembly plant in Douala and Kribi, reveals that this company has already invested the tidy sum of FCfa 1.4 billion in this project.

This investment, we learned has been mainly used for the design of 20 models of vehicles displayed in the Cameroonian capital since last 20 April, in order to allow the population and local authorities to try out "Star of Africa, the Cameroonian and African brand designed and protected for this purpose", confides Lu Fuqing.

For a total cost of FCfa 92 billion, the Chinese vehicle assembly project in Cameroon follows the signing of an agreement on 11 June 2015 in Yaoundé. It benefits from the law of 2013 encouraging private investment in Cameroon, which grants fiscal and customs exonerations to companies for a period of 5 to 10 years, during installation as well as production phases.

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