IEA approves Inter-Ministerial Investment Committee’s procedures

Deputy Prime Minister for Economic Affairs, Mullah Abdul Ghani Baradar Akhund, approved Tuesday the Inter-Ministerial Investment Committee’s procedures, the office said in a statement.

At the Economic Commission meeting held in Kabul, it was said that: “This committee’s establishment aims to streamline the process of attracting both domestic and foreign investments, foster coordination among relevant ministries and departments in investment planning stages, create an investment-friendly environment, and ensure effective management while offering essential information to potential investors about projects in Afghanistan.”

According to the statement, following a thorough discussion, the plan for constructing Jahan Park in Kabul’s eleventh district by the public-private partnership received initial approval.

The Kabul Municipality was tasked with reopening negotiations with the contracting company to determine the contract period and address other significant concerns. According to this plan, the private sector will invest 960 million AFN in 150 jeribs of land, with 35 percent of the revenue allocated to the Kabul Municipality. The Park is expected to be completed within three years, in compliance with city regulations and equipped with all necessary amenities, the ministry added.

In addition, the meeting saw a decision to promote domestic salt production to meet the country’s needs. The Ministry of Mines and Petroleum was instructed to reduce the royalty on raw materials for domestic salt production and processing factories.