Deputy Economic PM’s Address at the Conference on “Afghanistan’s Trade and Economic Relations”

The Deputy Prime Minister for Economic Affairs of the IEA, Mullah Abdul Ghani Baradar Akhund, delivered a keynote address at the conference, Afghanistan’s Trade and Economic Relations here in Serena Hotle, Kabul, the transcript of which is as follow.

I extend a warm welcome to esteemed guests and investors from neighboring, regional, and other countries. I express my heartfelt gratitude for your eagerness to invest in our country. I want to assure you that the Islamic Emirate of Afghanistan is fully committed to facilitating and Supporting investors and business professionals in every possible manner.

 

The re-establishment of the Islamic Emirate has heralded a notable turnaround in our economic landscape, which was previously grappling with significant challenges.

We have witnessed a decline in the prices of essential commodities and non-essential goods. Our banking sector has made considerable strides, accompanied by a surge in imports, national income, and exports.

Domestic food production has seen a marked increase, and large-scale projects are now underway.

Industries, trade, and transit have all experienced significant development. Comprehensive security across the nation, the abundant wealth of natural resources, a government that welcomes investment, a youthful, skilled, and cost-effective workforce, seamless access to international markets via regional connections, a conducive’ investment

climate, and straightforward investment regulations collectively establish a robust foundation for both domestic and foreign investments in Afghanistan.

 

The conducive investment environment in Afghanistan beckons not only Afghan nationals but also foreign investors. A compelling illustration of this is the recent agreement signed just a few days ago, which saw Asian and European investors collaborating alongside Afghan counterparts in the development of the

Ghorian iron ore mine in Herat. Beyond sectors such as electricity, mining, agriculture, transportation, infrastructure, communications, technology, and healthcare, Afghanistan presents a compelling demand for investment across a multitude of other domains.

We have diligently created opportunities for foreign investors to participate and invest in these various sectors.

We have made significant strides in meeting industrial electricity requirements, and ongoing endeavors are geared towards’ further enhancing electricity production capacities. Afghanistan boasts substantial untapped potential in harnessing renewable energy sources such as hydropower, wind, and solar, presenting a promising investment opportunity in this sector.

Additionally, we have established industrial parks, reduced taxes on raw materials, and initiated the reconstruction of highways to stimulate business development. In the near future, a pivotal development in transit is on the horizon, as Afghanistan will be connected to Iran’s Chabahar port through a railway network, marking a momentous leap forward in our transit capabilities.

The Islamic Emirate has instituted an inter-ministerial committee tasked with facilitating all essential support for both domestic and foreign investors’ seeking opportunities in Afghanistan. Presently, foreign investors arriving In Afghanistan are no longer required to navigate various institutions and bureaucratic hurdles; instead, they engage directly with this committee, receiving comprehensive and timely information. This represents a pivotal stride towards expediting the advancement of their ventures.

We are in the process of establishing an Economic Advisory Board comprised of seasoned experts in the field of economics, with the primary objective of fostering economic growth and development in Afghanistan.

Concurrently, efforts are underway to formulate a comprehensive national economic strategy for our nation, aimed at addressing prevailing challenges within the economic sphere. This strategy will chart a vision for the next five years, targeting poverty reduction, positioning Afghanistan as a pivotal hub for regional trade, fostering consensus in confronting obstacles on the path to our national objectives, and catalyzing the growth and advancement of the private sector within the country.

 

In conclusion, I extend a reiterated Invitation to both domestic and foreign investors to capitalize on the abundant investment prospects within Afghanistan. The Islamic Emirate stands committed to furnishing all requisite amenities and offering unwavering support to both local and international investors in their endeavors.