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Afghan businessman announces plan to invest $10 billion over next 5 years

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(Last Updated On: January 13, 2024)

Dubai-based Afghan businessman Mirwais Azizi has announced that he plans to invest $10 billion in energy and transportation sectors in Afghanistan over the next five years.

In the energy sector, the aim is to produce 5,000 to 6,000 megawatts of electricity, while in the transportation sector the focus will be on building railway networks that help promote trade and economic activity, Azizi said on his X account.

“I anticipate that close to one hundred thousand new jobs will be created and millions of other Afghans will benefit indirectly from these projects,” he said.

Azizi added that technical teams from his company will soon visit Kabul in a bid to further explore the areas, exchange views with the relevant authorities and pave way for the implementation stage.

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Acting commerce minister meets Russian deputy PM

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(Last Updated On: May 17, 2024)

Nooruddin Azizi, Acting Minister of Industry and Commerce, met with Russia’s Deputy Prime Minister Alexei Overchuk to discuss trade and investment, it was announced on Friday.

Sergey Pavlov, General Director of Russian Railways, and Dmitry Zverev, Deputy Minister of Transport of Russia, were also present in the meeting, the Ministry of Industry and Commerce said in a statement.

According to the statement, the two sides discussed increasing the volume of trade, preferential tariff for Afghan goods, Russian investment in mines and water dams in Afghanistan, and Afghanistan’s role in the International North–South Transport Corridor.

They also discussed about reducing the cost of transportation through the Russian railway, removing the export tax on basic materials, arranging the trip of the delegation to the ports of Astrakhan and Makhachkala, and holding a trade connectivity conference and an expo of Afghan products in Moscow.

Azizi met with the Russian deputy PM on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.

He also met with representatives of a number of Tatarstan and Russia companies and encouraged them to invest in Afghanistan.

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Azizi meets with head of Tatarstan on sidelines of Kazan Forum

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(Last Updated On: May 16, 2024)

The Ministry of Commerce and Industry said Thursday acting minister Nooruddin Azizi met with the leader of Russia’s autonomous republic of Tatarstan, Rustam Nurgaliyevich Minnikhanov, on the sidelines of a meeting in Kazan.

According to the ministry, Azizi met with Minnikhanov on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.

The two officials discussed bilateral trade relations, the establishment of the Russian Trade House in Afghanistan, the visit of Minnikhanov to Kabul, investment in electricity production, water transfer, mining, cultural and economic cooperation and other matters.

This annual meeting is held by Russia and the 14th round of this meeting was also held in the same country last year.

The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of Organisation of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.

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Afghanistan’s imports and exports totaled $10.3 billion last year

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(Last Updated On: May 15, 2024)

The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.

According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.

Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.

Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.

Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.

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