Cameroon's land and population

Land area:475,000 square kilometers, located in central and western Africa. There are 6 land neighbors: Nigeria in the northwest, Chad in the northeast, the Central African Republic in the east, Congo (Brazzaville) in the southeast, and Gabon and Equatorial Guinea in the south. The Gulf of Guinea is bordered to the southwest, and the coastal baseline is 360 kilometers long.

Main city:Yaoundé, the capital, is the political center (the estimated population of the Urban area is 2.5 million). The economic center of Douala (estimated population of 3.1 million) is Cameroon's largest city and "economic capital" and a logistics hub in Central Africa.

Population:About 28 million (2023), with an average annual growth rate of 2.6%; the urban population accounts for 58%, and young people aged 15 - 34 account for 35%, bringing increased demand for transportation.

Language: Theofficial languages are French and English, French (70% of the population) and English (30%). There is an ongoing separatist conflict in the English-speaking area.

Religion:Christianity (40%), Islam (20%), traditional religion (40%).

Natural resources:Rich in oil, bauxite, iron ore and other resources, with a forest coverage rate of 42%.

economic development

Macroeconomics: GDP in 2023 will be US$48 billion, with a growth rate of 4.2%, inflation rate of 6.8%, and per capita GDP of US$1,673.

Economic structure: Agriculture accounts for 20% of GDP (coffee, cocoa, palm oil), energy mining (oil production of 80,000 barrels per day), digital economy (4G coverage rate of 45%).

Trade structure: China is the largest source of imports (mechanical and electrical products account for 60%), and the EU is the main export market (crude oil and timber account for 70% of exports).

political environment

Political system: A presidential republic is implemented. President Paul Biya has been in power since 1982 and will complete the seventh term election in 2024. It has significant centralization characteristics, and 10 regions across the country implement vertical management.

Foreign policy: Adhere to multilateralism, have close relations with France, China, and Nigeria, join the African Continental Free Trade Area Agreement in 2023, and are a core member of the Central African Economic and Monetary Community (CEMAC).

Security risks: Continued unrest in the English-speaking region (Northwest/Southwest Region).

national policy development

Development strategy: Vision 2035 focuses on industrialization, agricultural modernization and infrastructure construction, focusing on the development of three major areas: energy, transportation, and digital economy.

Industrial policy: Renewable energy projects enjoy equipment import tariff exemptions, and digital economy enterprises can apply the five-year tax exemption period of the Digital Economy Law.

Special Economic Zones and Industrial Parks

(1) Kribi Deepwater Port Area: Provide a 10-year tax exemption and free capital remittance policy, and increase the throughput to 1.25 million TEUs after the completion of the second phase of the project in 2024.

(2) Douala Free Trade Zone: The income tax on automobile assembly and electronics enterprises is halved.

(3) Agricultural economic zones: Five agricultural economic zones are planned to be built to attract foreign investment to participate in the deep processing of palm oil and cocoa.

(4) Douala Industrial Zone: mainly engaged in agricultural product processing and building materials, with more than 20 Chinese-funded enterprises settled in.

(5) Yaoundé Technology Park: Huawei participated in the construction of a national optical fiber network, with a 4G coverage rate of 45%.

Source: Yangtze River Delta new energy vehicle industry offshore base

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