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Chinese mining firm to invest $350 million in Afghanistan

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(Last Updated On: July 7, 2023)

Fan China Afghan Mining Processing and Trading Company (FAMPTC) will invest $350 million over the next few months in various sectors including power generation, construction of a cement factory and in health in Afghanistan, the company announced on Thursday.

FAMPTC officials announced their plans in a meeting with Mawlawi Abdul Kabir, political deputy and acting prime minister of the Islamic Emirate of Afghanistan (IEA).

The company’s officials said that they had professional and specialized people to work on the projects and operational plans in place which will soon be implemented in Afghanistan, according to a statement released by the prime minister’s office.

The acting prime minister called on foreign and local investors to take the opportunity to invest in Afghanistan as conditions are more favorable than ever.

He said that the IEA assures investors that they and their assets will be safe.

Fan China Afghan Mining Processing and Trading Company (FAMPTC), is a joint venture between China’s Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) and Afghanistan’s Watan Group, according to state news agency Bakhtar.

In January, IEA signed a contract with CAPEIC to extract oil from the Amu Darya basin and develop an oil reserve in the country’s northern Sar-e Pul province.

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Afghanistan can become important industrial center in region: Hanafi

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(Last Updated On: May 13, 2024)

Deputy Prime Minister for Administrative Affairs Abdul Salam Hanafi says Afghanistan has the potential to become one of the most important industrial centers in the region.

Speaking at the opening ceremony of the national and international expo on the occasion of Industry Week, Hanafi said that the growth of industry lays the foundation for the growth of other economic sectors and that the Islamic Emirate fully supports domestic production in the country.

“Afghanistan has important and rich factors for industrial production, which can become one of the important industrial centers in the region. The growth of industry will be the basis for the growth of other economic sectors, especially agriculture,” said Hanafi.

Acting Minister of Industry and Commerce, Nooruddin Azizi, added that the IEA has programs in the fields of industry development and support for the private sector that will make Afghanistan self-sufficient.

Azizi stated that Afghanistan’s industrial sector is currently progressing and the quality of export goods has also improved.

Some investors said at the ceremony that after the return of the IEA, the country’s exports have increased and the number of manufacturing companies has also increased.

This expo is open to visitors for seven days, and industrial products are showcased in 450 booths.
Women in business also attended the meeting.

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Afghanistan, Pakistan agree on new travel mechanism for truckers

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(Last Updated On: May 12, 2024)

Afghanistan and Pakistan have agreed on the issuance of a temporary admission document for transporters of commercial goods, Afghanistan’s Ministry of Transport and Aviation announced on Sunday.

The ministry said in an announcement that truck drivers and their assistants carrying commercial goods from Afghanistan and Pakistan must have this document with them at the crossings.

Based on the announcement, the document will be issued to Afghans at the Pakistani embassy in Kabul and its consulate in Kandahar.

For Pakistanis, the document is distributed at the office of the Afghanistan transport attaché in Peshawar and Quetta.

The Ministry of Transportation and Aviation asked owners and drivers of trucks to submit the required documents to their respective transportation companies by June 1.

The ministry warned that after June 1, trucks cannot travel between the two countries without having the temporary admission document.

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Pakistan: Consultations underway on preferential trade agreement with Afghanistan

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(Last Updated On: May 11, 2024)

Pakistani officials have announced that consultations are underway with stakeholders on preferential trade agreements with Afghanistan and Azerbaijan.

According to Dawn newspaper, the issue was announced on Friday in a meeting on trade chaired by Pakistan’s Prime Minister Shahbaz Sharif.

In the meeting, the strict monitoring of Afghan Transit Trade was also emphasized.

Pakistani officials have not provided further details on preferential trade with Afghanistan and Azerbaijan.

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