Business
Kabul hosts major domestic and international expo
In order to increase investment and support for the country’s domestic business sector, the first Imam Abu Hanifa National and International Expo was officially opened in Kabul on Thursday.
Attending the opening were senior Islamic Emirate of Afghanistan (IEA) officials and representatives of domestic and foreign businesses.
The expos will run for seven days, and over 600 local and foreign exhibitors are displaying their products.
In a voice message marking the opening of the event, the IEA’s supreme leader Mawlavi Haibatullah Akhundzada called on investors in Afghanistan to not rely on foreign aid and instead grow the country’s economy.
“The economy of a country is built when its people work together and do not rely on foreign aid,” said Akhundzada in the voice message.
Abdul Salam Hanafi, the second Deputy Prime Minister of the IEA, said security has returned to the country which has created opportunities for investment. He also said the IEA supports the country’s manufacturing sector.
Hanafi added that if national businessmen are asked for bribes by officials in government offices, they have the right to complain and that corrupt staff will be dealt with.
“No one in government can bribe a national businessman. We are ready to prosecute any government official who asks for a bribe from a national businessman according to Islamic principles,” he said.
Nooruddin Azizi, Minister of Industry and Commerce, also said that supporting domestic production is vital for the economy of a country.
“We should all support domestic products not only in words but also in actions,” he said.
The spokesman of the Islamic Emirate pointed out at the event that in holding the expo, Afghanistan has taken a step towards self-sufficiency and the goal of the Islamic Emirate is to grow the country’s economy following the withdrawal of the American military.
He considers the performance of traders, investors and the Chamber of Commerce to be effective in attracting domestic and international investors in Afghanistan.
“At the moment, domestic and foreign investors have a good opportunity to come and invest in different fields in Afghanistan,” said Zabihullah Mujahid.
In addition, Chamber of Commerce and Investment officials expressed hope that the expo can provide an opportunity for Afghan businessmen to communicate with foreign businessmen.
The expo meanwhile was rolled out without foreign aid.
Business
Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.
According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.
The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.
The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.
The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.
Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.
However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
Business
$30 million pharmaceutical investment launched in Herat as new production line opens
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.
The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.
The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.
Business
Afghanistan approves new foreign investment policy in bid to attract international investors
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.
The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.
According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.
The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.
During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.
Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
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