(Business in Cameroon) - On June 4, 2020, the very first session of the Steering Committee of the competitiveness support facility (DACC- dispositif d’appui à la compétitivité du Cameroun) was held in Yaoundé, the Cameroonian capital. Financed to the tune of XAF6.5 billion by the European Union (EU), this mechanism implemented since the beginning of 2020 aims to improve the competitiveness of Cameroon by strengthening the capacities of its economic operators and promoting an institutional environment more conducive to business. It will that way enable the country to better benefit plainly from the Economic Partnership Agreements (EPAs) with the EU, we learned.
"The aim is to enable the entire ecosystem of the economy to benefit from the support, to be more competitive and improve the business climate, standardization, as well as the energy efficiency for companies," said Isaac Tamba, the Director-General of Economy and Investment Programming at the Ministry of Economy, who is also co-chairman of the DACC Steering Committee.
This mechanism is structured around three components, official sources indicate. These include support for intermediary companies and organizations, improvement of the business climate, and support for public-private dialogue, as well as standardization and energy efficiency in the production sectors.