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Corruption-a major challenge ahead of Afghanistan’s economic growth

in Afghan Business

Corruption-a major challenge ahead of Afghanistan’s economic growth

lodinAfghan traders have once again expressed their hopelessness in the continuity of investment in Afghanistan.

They have cited corruption as a major challenge ahead of investments and economic growth in Afghanistan.

According to the traders, Afghanistan’s endemic corruption, bureaucratic management, insecurity and inaction of the government have resulted in the loss of a massive amount of investment in Afghanistan.

“No one would want to lose their capital in Afghanistan. There is no point in investing in the presence of such a high level of corruption,” said Azizullah Lodin, Chief of High Office of Oversight and Anti-Corruption.

However, government officials have tied their hopes of elevating economic growth to the investment sector of the economy.

Afghan Finance Ministry recently proposed a policy draft on how to encourage investment in Afghanistan to the Council of Ministers.

Attracting investment, preventing capital flight, creating more jobs and lessening people’s concerns about the economic slowdown are the main objectives of the policy draft.

The deadline 2014 and the reduction in international aid have made things look gloomy to many Afghans.

Minister Zakhilwal said the draft focuses on the five main sectors: Industries, construction, agriculture, mines and exports.

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