Research on cameroon
4 billion which will be the world’s largest. $6% of this population will be from sub-Saharan Africa. (Monga, and Lin, 155)Moreover, this can be supported by the fact that in recent times the continent has managed to create 21 million new formal and stable jobs. However, this is still far from the intended economic growth and job arc expected in Africa, and there is need to invest in future progress and growth. This paper will look at the possible future of two Cameroon industries from 2018-2025, some international laws and treaties, and market entry strategies. In the meantime, it has a mining sector that now balances the economic launch the county independently. On the agricultural outlook Agro-Food Trade and Markets Division of the Trade and Agriculture in 2016, the United Nations Sustainable Development goals took effect and launched the countdown toward achieving 169 of its targets by 2030.
Most of the ambitions are agricultural because there is need to end hunger improve nutrition, promote justifiable agriculture, and achieve food security. While it is important to create food security it is paramount to first to end hunger. It has been proved 78% of the world’s poor population is reliant on agriculture and not only for food but also for livelihood. Also, the companies and investors strategies are adding these crops to the other traditional exports of cotton, coffee, and cocoa will help improve and grow the country’s agricultural industry. (Fonsah, and Fonken, 71) The main trend for the country is to focus on production and direct export before the food items are processed. This is meant to progress the overall national balance payment.
However, it is unfortunate that it does not add any value to Cameroon. Besides, the country’s land rent as the concessions is considerably varied. 2% of the group’s turnover which is chiefly sugar, 31. 1% turnover for flour, and poultry sectors. This shows the possible growth expected in the future of the country in agriculture is promising because I have beaten its neighbouring counties like Gabon and Cote d’ Ivoire. Clearly, the numbers show that its subsidiary company in the country Société Sucrière du Cameroon (Sosucam- Cameroon sugar enterprise) represents 341 % in the turnover of the group which is more than the 16. 5 % in Gabon and 19. Petroleum industry Petroleum Cameroon is still one of the biggest oil-producing countries in the continent with an estimate of 250 million barrels.
There have been abundant explorations and the current research shows the potential turn out to be very important. The belief encourages Cameroon, to have the same pond with other big producing companies, this is similar to the example set by Equatorial guinea and Nigeria which are among the top five oil producers in Africa not to mention Chad, Gabon and Congo which are average producers (“International Business Travel And Relocation Directory”, 84) The countries oil reserves are expected to grow significantly by 2025. This is because the oil explorations continue in overall parts of the country. For instance, the pond at Logone Birni near the border of Chad and Nigeria, Rio del Rey of the Atlantic Ocean, and by the coast at the border of Gabon, Nigeria, and Equatorial Guinea.
The venture which integrates recent technological evolutions in the market and allows for modifications of equipment to treat crude oil and particularly the raw products produced in Cameroon. The technical part will facilitate refinery to have a flexible management in production, while the atmospheric distillation will be bottlenecked with an addition of a fragment of preflash. Doubling the capacity is expected to come along with the implementation of a similar unit to the current one. It must reach 610. 000 tons per year. (Margaret, 33) Third, from the social-cultural perspective Cameroon there is lack of good cohesion in the community and some of the local families lack access to basic healthcare and education facilities. What’s more, there is cultural religious diversity and curtailed freedom to be different.
Some of the recommendations that could assist in curing the country’s ailing sociocultural elements are the use of the Cameroonian resources effectively and fairly will ensure equality to bridge the disproportionate gap between the rich and the poor. Additionally to cut down corruption the country should come up with better anti-corruption policies. Further, the country should follow policies that will enable economic growth and alleviate poverty. Although, the police in the country may not have jurisdiction to investigate and prosecute the large corporations the country corporations are subject to international law that protect the investors, citizens of Cameroon, and the local industry. Business tax in Cameroon In Cameroon DIT and SIT is levied on corporate bodies and persons earning an income.
This includes business firms based in Cameroon by, regional and local authorities. The country’s tax is held at its source by the Cameroonian body that pays the remuneration. They apply an overall 15% rate that is applicable to remunerations that are paid overseas in regard to the varied services that Cameroon provides. However, the complications arising from a lack of an understandably fair application and interpretation of the interpretation of the patent law by various courts ought to be reduced by the consignment of prerogative for all patent appeals in a single court(Bouchoux,17) Secondly, the country is subject to Copyright laws that offer an automated shield when an original work of invention or composition fixed and created in physical form as a mode of expression.
However, these laws extent of protection is restricted. The laws endure numerous statutory limitations and exceptions. Additionally, there is expected to be the fair use permits, the particular use of the protected works that are to be evaluated one by one basis to find out if they can be allowed ( Bouchoux, 187) Thirdly, the Trade secret protection, which is an invention of common law, it is a law that should protect the sacredness of secret information that the business uses to gain advantages in the business markets and strategies over their competitors. In regard to the global protection of intellectual property, it is essential for every country to apply for patent protection. There are four basic antitrust laws. Firstly, the Sherman Act1890 which is the most important antitrust law It forbids conspiracy, combination, and contracts between two or more companies exerting an irrational restraint on trade or commerce.
In addition, Section 2 of the act prohibits the attempt of monopolization or monopolization of a company, and conspiracy to monopolize markets for particular products. ( Arnold, 509) Some of the malpractices that this law is set to prosecute and prevent are the agreement to fix prices on certain products. These laws have been used over the years in law courts to deed these commercial acts an unjust and unlawful. There are also a set of rules and guidelines set by the FCPA that necessitates companies within the United States to obey, Firstly, they should keep good records and balanced books that show all transactions f the company. Secondly, develop and sustain a suitable system of internal accounts (Deming, 2) Market entry strategies During the past decade, globalization has amplified the competition among companies and this has, in turn, forcing them to look for foreign markets.
Development of the best market strategy entry is quite complicated and has long-term worries for the company. Thus choosing a good market entry strategy is very essential. The term of international market strategy is normally likened to internationalization strategy, foreign engagement, and international activities. However, there is a possibility that the company’s operations could be affected by instability. Nonetheless, the company takes ownership of other subsidiaries every year to advance their existence in the market and other countries(Johnson, and Turner 64) The company used the economics of scope method to enter the Cameroonian international market. The company partnered with TotalFina Elf, Shell, Texaco, and the government in opening up an oil refinery in Cameroon known as Societe Nationale de Raffinage(SONARA).
The government owns 66% while the rest of the companies share ownership of the company. Besides, Exxon even partnered with and Chevron In the early millennium to build the oil pipeline that was worth 3. In conclusion, during a visit to France in 2013, The Cameroonian head of state Paul Biya was to present the modern economic rules of the country, that is been based on “greater accomplishments policy” the president wooed the French with the new plan of intended vision for Cameroon. It was an opportunity to persuade other leaders and investors why to invest in the future industries of Cameroon at the Mouvement des Entreprises de France (MEDEF) meeting. The president’s aim is to try and reinitiate the French involvement in the economic growth of Cameroon.
Additionally, he discourages but he will also ask French business persons to, “reaffirm their wish to participate in the economic development of Cameroon. Works Cited Monga,, Célestin, and Justin Yifu Lin. Langaa Research and Publishing, 2018, https://books. google. co. ke/books?id=4kyHDAAAQBAJ&pg=PA71&dq=what+crops+does++cameroon+grow. &hl Accessed 7 Mar 2018 Mugoti, Godfrey. S Geological Survey Minerals Yearbook Area Reports: International Review, 2009, Africa andthe Middle East. 3rd ed. , Area Reports, 2011, https://books. google. co. Cengage Learning, 2000, https://books. google. co. ke/books?id=Scu5DQAAQBAJ&printsec=frontcover&dq=Protection+of+Intellectual+Property+Patent+Law,+copyright,+and+trade+secret+protection&hlAccessed 7 Mar 2018 Arnold, Rodger. A. co. ke/books?id=damCWxWkmCsC&pg=PA4&dq=the+Robinson-Patman+Act+that+was+passed+in+1936&hl=sw&sa=X&ved=0ahUKEwjPzd6qyebZAhWCC8AKHZEbDTkQ6AEILTAB#v=onepage&q=the%20Robinson-Patman%20Act%20that%20was%20passed%20in%201936&f=false.
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