English | دری

Afghanistan announces new incentives for investors

in Afghan Business

Afghanistan announces new incentives for investors

investmentBy Ahmadshah Ghanizada-The government of Afghanistan on Sunday announced a new package of incentives in a bid to attract foreign investment in the country as the NATO-led coalition security forces are preparing to withdraw its combat troops from Afghanistan by the end of 2014.

The policies announced by the government of Afghanistan will remain in place for at least two and half years to encourage foreign and local investment to bring in capital to the economy of the country.

The step by the Afghan government also comes amid growing fears that the international aid money could dry up as the international community is winding down its operations in Afghanistan.

Afghan finance minister Hazrat Omar Zakhilwal, who announced the package on Sunday, said, “The goal of this policy is to support investment in different sectors, especially in the industry, construction, agriculture and mining sectors.”

Mr. Zakhilwal further added that the new policies are aimed at attracting investors both from inside and outside the country and preventing capital from leaving the country.

The package of incentives includes provision of land at almost no cost to industrialists, factory owners will be exempted from tax for at least seven years and the farmers will receive low-interest loans for almost ten years.

Besides, the foreign investors will receive one year multiple entry visas, with a hope to attract millions of dollars in investment over the coming years that would leave a positive impact on the economy of the country.

The decision by Afghan government is taken amid growing movement of investments out of the country by wealthy Afghans due to security concerns and there are fears that more investors might leave the country upon the completion of NATO’s mission in Afghanistan.

Currently, the economy of Afghanistan is heavily dependent on foreign donors despite a huge growth in domestic businesses since the 2001 US-led invasion.



Related Articles

Afghanistan addresses natural resource governance challenges at EITI’s Global Conference

A delegation from the Afghan Extractive Industries Transparency Initiative (AEITI) attended the EITI Global Conference in Lima, Peru on February

Afghanistan set to emerge as leading marble producer

Afghanistan is home for a vast variety of marbles, and a wide range of them is currently being extracted from

Afghan Finance Minister heads for Washington for IMF-WB spring meeting

Finance Minister Hazrat Omar Zakhilwal left for Washington on Monday to attend the spring meeting of the World Bank (WB)

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*