Chinese Business Operators Open Doors To Cameroon

By Eddyson Lugangwa Posted 08 November 2006 @ 11:16 am EET     Print     Reprint     E-Mail     Comments

Yaounde (IBTimes.com) - President Biya received in audience three economic operators in Beijing. President Paul Biya had a busy morning in the Chinese capital, Beijing yesterday, a day after the close of the Beijing Summit of the Forum on China-Africa Cooperation.

The first audience began at 10:a.m. Beijing. Those received by the President were the President of the EximBank of China, Li Ruogu, the Senior Branding Manager of Huawei Technologies co. Ltd, Eddie Liou and Zhengfeipen, Founding President of CGC Overseas Construction Co. Ltd (CGCOC).

The President of the EximBank of China, Li Ruogu told the press at the end of the audience that he not only discussed issues of Sino-Cameroon relations but talked of possibilities of investment in Cameroon.

Prior to the audience, close sources said the EximBank of China announced at the sideline of the Beijing Summit that his Bank was ready with a sum of 37 billion FCFA to invest in Cameroon. EximBank of China is one of the financial institutions in China that has been created to fund development projects in Africa. Cameroon had already had 7 billion FCFA loan from the bank.

Immediately after the departure of Li the President opened the doors of his 19th floor suit at St. Regis Hotel to Eddie Liou of the Huawei Technologies Co. Ltd. For close to 30 minutes the senior business official looked into technological cooperation areas between his institutions and Cameroon.

Already, Cameroonians have started testing the capabilities of Huawei through the installation of CT Phones in the towns of Yaounde, Douala and Garoua.

The series of audiences granted by President Biya ended with the Board Chairman of CGC Overseas Construction Co. Ltd (CGCOC), Ji Weimin. For close to 45 minutes, the President and Mr. Ji focused on the provision of potable water in Douala.

Talking to the press at the end of the audience, Ji Weimin was very assuring. He said feasibility studies for the project had been done and that once the contract is signed his company would by able to complete the work in one year.

The president was accompanied during the audiences by some of his entourage that came with him to Beijing. The outcome of the audiences in the days ahead could rather mark a promising way forward for the Beijing Summit of November 4th and 5th which saw the participation of 35 heads of State, one vice president, six prime ministers and five ministers representing their various African countries as part of the 48 high level official from the African continent to China.