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
Shoemaking industry in Takhar province facing stagnation
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.
Business
Daily truck clearances at Torkham drop from 400-500 to 5-10
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.
Business
Turkish scholars, charity officials assess investment prospects in Afghanistan
Officials pledged to encourage Turkish investors to explore and capitalize on investment opportunities in Afghanistan
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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