Business
Afghan Traders Warn of Investment Withdrawal If Gov’t Fails to Ensure Security
A number of Afghan traders on Saturday warned of pulling out their investment from the country if the government failed to provide security and ensure their safety.
“We have invested in our country and we still not sure of being safe,” said an Afghan trader, Omar.
“Since last two months we have imported products worth about $20,000, but still we have not managed to have at least $1000 sells, because of bad security situation. We can’t continue to our business in this situation,” Another Afghan trader, Masih said.
Following the matter, an Afghan trader, Zabiullah Quraishi said if the government do not heed to the issue, the businessmen would have no choice but to pull out and invest in abroad where he/she can be at least safe.
Afghanistan Chamber of Commerce and Industries (ACCI); however, said that corruption, security and social challenges have made the situation tough for the investors in the country.
“There is no guarantee for a person who invest in Afghanistan, everyone works at his own risk and there is no security assurance,” said ACCI Deputy, Khan Jan Alkozay.
The ACCI expressed concerns on escalation of conflict and the issues in front of Afghan investors, and warned that if the situation continues as it is, the country will fell in deep investment crisis.
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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