Yaounde, Cameroon Africa. (Cameroon News) – The Director of Planning and Business in the Singapore –based GoodHope Asia Holdings Limited Company, Rizan Jiffrey is leading a business delegation in Cameroon with plans to create a 20 to 30 hectares of oil palms plantation in the country.

The Singapore business delegation on Friday, August 5, 2011 in Douala had a working session with the Director General of Cameroon’s Investment Promotion Agency, Marthe Angeline Minja in the presence of the institution’s Deputy Director General, Sinwin Boma Soh Donatus.

Mr Rizan Jiffrey disclosed that GoodHope Asia Holding Limited besides opening the oil palm plantation, wants to process the oil locally for domestic consumption and exportation. Creating the plantation will take four to five years and the company plans to spend over one billion FCFA in the project.

Cameroon, he said, has huge potentials to become a giant in palm oil production in the African continent, taking into account available suitable land. Despite the huge potential, Cameroon imports palm oil with 35,000 tonnes imported in 2010.

The Director General of the Investment Promotion Agency, Marthe Angeline Minja, promised support to the Singapore investors. One of the main missions of the agency is to attract and promote foreign investments in Cameroon.

Officials of the GoodHope Asia Holding Limited are visiting Cameroon for the second time in two months. The company is world leader in the production and processing of palm oil.

Sources say the company has more than 120,000 hectares of oil palms plantations in Indonesia and Malaysia on which is developed integrated processing for exportation worldwide.