Italian Sif-Inter plans to invest XAF2.5 bln to build a wood processing unit in Cameroon

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Italian Sif-Inter plans to invest XAF2.5 bln to build a wood processing unit in Cameroon

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- Monday, 18 May 2020 14:12

(Business in Cameroon) - On May 13, 2020, in Yaoundé, Italian company Sif-Inter signed an agreement with the Investment Promotion Agency (API). This agreement gives the company the right to benefit from the facilities provided by the law of 2013 (revised in 2017) on investment incentives in Cameroon.

These tax-customs advantages, in the form of exemptions ranging from 5 to 10 years, both during the installation and production phase, are granted to Sif-Inter because of the XAF2.5 billion investment it plans to make in the wood processing industry in Cameroon.

The company plans to build an industrial unit that will transform local wood into finished products. According to the promoters, this unit will create about 300 jobs.

BRM

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