Camwood Corporation has just indicated its eligibility to benefit from incentive legislation on private investment in Cameroon that offers local and foreign businesses the opportunity to have various 5-10 year tax exemptions during the installation and operational phases of their companies. Camwood Corporation plans to build a wood processing plant in Cameroon that will create 250 direct jobs for an overall investment of 16 billion FCFA.
For several year now, wood has been Cameroon’s second export product behind oil. However, as Cameroon generally exports its wood after the first round of processing, it is struggling to achieve substantial added value from the sale of this product (6% of GDP) due to inadequate plants able to do the second and third rounds of processing.