Business
Private sector welcomes peace move which could bring enormous investment opportunities
Peace in Afghanistan would provide enormous opportunities for local and international businesses to invest in the country, in turn boosting the economy and aiding in its overall development.
Afghan business owners and leaders in the private sector have said the war has created major obstacles for investors in the country over the past 19 years.
Following President Ashraf Ghani’s decree, issued on Monday afternoon, to release the remaining 400 prisoners so as to pave the way for peace talks, the Afghanistan Chamber of Commerce and Investment (ACCI) urged all warring parties to seize the opportunity to bring about peace so as to improve the country’s dismal economic climate.
“We welcome the Loya Jirga’s decision to release Taliban prisoners, which could have a positive impact on the country’s economic growth,” said Khanjan Alokozai, an ACCI member said.
Officials at the Afghanistan Chamber of Mines and Industries seconded this and said peace in Afghanistan would not only increase investment opportunities but also create much-needed jobs.
“With the release of the prisoners, our hope is that dialogue between Afghans will begin, as this will increase investment in the country,” said Sakhi Ahmad Paiman, deputy director of the Chamber of Mines and Industries.
Ghani’s decree comes a day after the consultative Loya Jirga voted in favor of releasing the hardcore Taliban insurgents, as per the Doha agreement between the US and Taliban in February – which was one condition that needed to be fulfilled before intra-Afghan peace talks could start.
Meanwhile, economic experts are also optimistic about the opportunity for peace and for what is hoped will be the resultant economic growth in the country.
Hakimullah Siddiqui, an economist, said: “Both sides of the war must seize the opportunity to stabilize and grow the country economically, in order to increase economic opportunities.”
Other economists said peace would open up vast opportunities for investments in all sectors, including mining, agriculture, services, energy, and manufacturing.
Talks are expected to officially begin on Sunday, in Doha, Qatar, between government and the Taliban.
The Afghan government’s negotiating team is expected to leave Kabul on Wednesday.
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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