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IEA calls on Afghans at home and abroad to invest in new state-run initiative

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First Deputy Prime Minister Mullah Abdul Ghani Baradar said Sunday the Islamic Emirate of Afghanistan (IEA) is working on an economic policy that will help restore the economy and lift the country out of poverty. 

Speaking at an event to launch a new state-run limited liability company, Afghan Invest, Baradar called on Afghans to bring their foreign-based capital back into the country and invest in the new initiative.

According to the IEA, 13 investors have already collectively invested $250 million. 

Baradar said at the launch that Afghanistan is potentially an extremely wealthy country given the enormous, largely untapped, mineral reserves.

“Our country is very rich in terms of mines. Afghan investors if they have capital abroad, must relocate it to their home country, we support you. Trade is vital for a country,” said Baradar. 

He also stressed that the government’s doors are open to all businessmen and that the IEA will support them. He said he hoped that businessmen across all ethnic lines in the country would invest in the new company. 

Acting Minister of Commerce and Industry Nooruddin Azizi, who also attended the launch, said the only way to save Afghanistan from its current crisis was for Afghans to work together. 

“The only solution to our country's economic problems is for Afghans to work together and make sincere efforts,” said Azizi.

Sher Mohammad Abbas Stanikzai, the deputy minister of foreign affairs, said that it was because of the sacrifices of the people’s jihad that neighboring countries like Pakistan and Iran live in peace. He said the world should respect this.

"Not only did we liberate our country, but we also freed the countries in the region from aggressors," said Stanikzai, at the event.

“We have a proud, and free Afghanistan, which we must protect and safeguard,” he added.

Afghan Invest officials said the aim of the company is to establish economic stability and encourage investment in the country. This includes investment across a broad range of sectors such as agriculture, mining, energy production and infrastructure development. 

Cabinet members meanwhile said that with the return to power of the IEA, national sovereignty, national security and national integrity have been restored and that the new authorities will support investors. 

Economic experts believe that the establishment of such ventures can have a positive impact on the country's economy, and that foreign investors could be encouraged to invest in the country.

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Shoemaking industry in Takhar province facing stagnation

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A number of shoemakers in northern Takhar province say that while their handmade shoes are of better quality than imported shoes, but still sales are down.

According to them, there were more than 20 shoe-making shops in the past, but now some have been closed due to the decline in sales.

The shoemakers make most of their shoes from leather. A number of industrialists say that this industry is now facing stagnation.

Abdul Raqib, a shoemaking factor owner, said: “The government should support us. Currently, we import soles. It can be made with good quality in Afghanistan, and we could even compete against Turkish shoes.”

Meraj, another shoemaking factory owner, said: “Shoe sales were higher in the republic era. There were military shoes. Sales have declined now, but we still thank Allah.”

Shoemakers make these shoes with basic tools and by hand, with 5 to 8 people working in each shop.

Javed, a shoemaker, said: “Our sales are not so good. We can make any type of shoe or slipper. We want the government to support us.”

A number of Takhar residents say that domestically produced shoes are of high quality and with lower price compared to imported shoes, so people prefer domestic products to foreign products.

Mir Ata, a resident of Takhar, said: “We are very happy about domestic shoes. People should buy it. They are of good quality.”

However, the officials of Takhar Industry and Commerce Department say that they are committed to support the industrialists.

Abdul Rahman Ghaznawi, provincial director of industry and commerce, said: “People prefer domestic shoes and slippers. Takhar’s products are sold in Kunduz, Baghlan and Badakhshan as well.”

Meanwhile, industrialists say that if the government supports them, they will be able to make the best products and can be more competitive.

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Daily truck clearances at Torkham drop from 400-500 to 5-10

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Pakistan’s Sarhad Chamber of Commerce and Industry (SCCI) has said that daily truck clearances at Torkham crossing have declined from 400-500 to 5-10.

SCCI President Fazal Muqeem Khan said this at the signing ceremony of a memorandum of understanding (MoU) with the Pakistan-Afghanistan Joint Chamber of Commerce and Industry to promote bilateral trade and cooperation.

He said the volume of trade between Pakistan and Afghanistan had fallen from $3 billion to $1 billion annually.

Fazal Muqeem also highlighted the adverse impact of the 2% Infrastructure Development Cess (IDC) imposed by the Khyber-Pakhtunkhwa government on trade and transit.

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Turkish scholars, charity officials assess investment prospects in Afghanistan

Officials pledged to encourage Turkish investors to explore and capitalize on investment opportunities in Afghanistan

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Afghanistan’s Acting Minister of Energy and Water, Mullah Abdul Latif Mansoor, met with a delegation of Turkish scholars and officials from the Adif Charity Foundation on Tuesday to discuss various political, religious, and social issues.

According to the Ministry of Energy and Water, Mullah Mansoor praised Adif’s humanitarian efforts in Afghanistan and highlighted the country’s ample resources for energy production.

He emphasized that Afghanistan currently offers a favorable environment for investment in all sectors, assuring the Turkish delegation of the Islamic Emirate’s commitment to ensuring the safety and security of investors and their assets.

In response, Adif officials pledged to encourage Turkish investors to explore and capitalize on investment opportunities in Afghanistan, signaling a potential boost in economic and developmental cooperation between the two nations.

 

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