THE CHALLENGES OF APPLYING THE LAWS GOVERNING INVESTMENTS IN CAMEROON: AN APPRAISAL OF THE HURDLES OF FOREIGN DIRECT INVESTMENTS ON SMALL AND MEDIUM-SIZED ENTERPRISES
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Abstract
The constant proliferation of different types challenges plaguing investments in general and foreign direct investments in particular in the world over have led to deteriorating and devastating effects to human kind and the business environment in such a way that if nothing is done to avert it, it will only lead to egregious anomalies and why not the complete obliteration of some investments. In the contemporary world today, Foreign direct investments which are supposed to be promoted and protected so as to ensure and enhance development in Cameroon, are instead the kick-starters of the numerous nightmares and wanton atrocities such embezzlement, corruption and looting of funds etc thereby causing pain, injury, and suffering to the population. These challenges are multi-facetted and spring from different directions to wit; the investor, the investing state and the local population. The issue is worsened when the investor gangs with some few stake holders of the state as against the state and the entire population leaving us in a state of literal ecstasy to ponder whether it still falls under the very objectives of foreign direct investments. It must be emphasized that, the general observation with investments is that ‘‘there can never be a successful investment without challenges, FDI business inclusive’’. FDIs are generally enforced by a number regulation and supervisory bodies both in Cameroon and abroad given that investing partner must also ensure that his investments are save. To this respect however, several national laws as well as international legal instruments aimed at arriving at a solution have been envisaged. But it is rather unfortunate that, the so many legal instruments arrived at are not apt enough to curb and curtail the challenges to the implementation investment laws. If nothing is done to this present status quo, no long lasting solution will ever be attained. This paper focuses on challenges faced in the implementation of FDIs laws in the sector of SMEs as well as arriving at some seasoned recommendations to curtail these challenges. To attain this objective, the secondary method of data collection and the qualitative method of data analysis were employed.
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