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Thursday, March 23, 2023

Afghan businessmen in UAE willing to invest in Afghanistan

Afghan businessmen in UAE willing to invest in Afghanistan

The Afghan Business Council in the United Arab Emirates is urging Afghanistan’s de facto government to provide opportunities for Afghan businessmen to invest in their country.

Haji Obaidullah Sadr Khil, chairman of the United Arab Emirates Council, said in a conversation with Khaama Press that 80 percent of businessmen in the UAE conduct business in more than 50 countries.

Sadr Khil added that Afghan businessmen have invested more than $10 billion in the United Arab Emirates and are willing to invest in the country if the caretaker government offers them the opportunity.

“The caretaker government should provide investors with the opportunity to invest in the country, which will create jobs and provide jobs for the people,” he said.

The current Afghan government claims that foreign and Afghan investors will be given various facilities and opportunities to invest in the country.

Abdulsalam Jawad Akhundzada, spokesman for the Ministry of Industry and Trade, said that investors who wish to make large-scale investments in Afghanistan will be offered the opportunity to invest in economic zones where they will be granted licenses and paid for the transfer of land and raw materials.

However, economic analysts believe large-scale investments should be feasible if political stability and security are restored.

Abdul Nasir Rishtia said the interim government should step up international interactions to boost economic growth and investment in the country.

He also said that the fundamental elements of investing in the country are the protection of investors, their property and a corruption-free environment.

“The safety of investors and their properties along with the rule of law and the prevention of corruption are the main factors encouraging investors to invest in the country.”

However, since the Taliban took over Afghanistan in August 2021, most investors have left the country and withdrawn their investments in Afghanistan.

In addition, the current regime has not been recognized by the international community on the one hand, and has been sanctioned on the other. As a result, multiple international organizations have reported that Afghanistan suffers from a severe humanitarian crisis amid security challenges.

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