Business
Construction Work of Iron Melting Factory Kicks off in Kabul, Worth $20 Million
Government officials and businessmen laid the foundation stone for the construction of an Iron melting factory in Kabul on Tuesday which worth $20 million.
Khan Mohammad Wardak, the owner of the manufacturing factory said that the factory will begin operation next year. “We have great capacity and can make major economic activities in the future,” he said.
The Iron melting factory is expected to create job opportunities to at least 2,000 people.
The first Deputy to CEO Khan Mohammad, meanwhile, said that a lot of challenges in front of investors in the country. But he said the government has taken major economic plans in this regard.
Following the matter, the Minister of Commerce and Industries Humayoun Rasa said that that rooms for investment are rising in the country.
“Our need is about 300 thousand tons of goods annually and we are hopeful of preventing 230-250 million equivalent products being imported in the country,” Rasa said.
“We must accept this truth that investment in Afghanistan needs courage and compassion,’ said Nargis Nehan, Acting Minister of Mines and Petroleum.
The Ministry of Commerce and Industry said Thursday it has signed cooperation agreements with ten institutions to support the development of small and medium-sized enterprises.
Nooruddin Azizi, Acting Minister of Commerce and Industry, said: “In the implementation of projects, we must pay special attention to our activities and actions and try to make useful use of the projects according to the requirements and benefit the beneficiaries.”
These ten institutions are to present their projects, the total value of which is around over $1.1 million. The projects will be carried out in Kabul, Baghlan, Ghor, Herat, Logar, Nangarhar, Balkh, Badakhshan and Jawzjan provinces and provide direct jobs for about 1,000.
To date, the ministry has signed MoUs for 72 projects in total, collectively valued at about $53.6 million.
These agreements have been signed with domestic and foreign companies for the establishment of small and medium-sized businesses.
In accordance with the principles and laws of the Islamic Emirate and prioritizing the implementation of projects for immigrants and returnees and internally displaced people, the ministry said 635,865 people will benefit through jobs directly and over 4.3 million will benefit indirectly in 25 provinces once these projects are implemented.
The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.
This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.
Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.
The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.
According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.
The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.
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