by Wadsam | December 31, 2015 2:06 am
The Afghanistan Investment Support Agency (AISA) announced on Wednesday that investment in Afghanistan has declined by 29% in the past 9 months of the current fiscal year and investment has been on a free-fall since 2011.
Addressing a press conference, Head of AISA Mohammad Qurban Haqjo said USD 660mn worth of investment was made in Afghanistan in the first three quarters of last year, while this year the investment stood at USD 600mn.
“While investment situation in other provinces has been disappointing, investment in Kabul has improved from last year,” said Haqjo.
He added that investment in Kabul has increased by 10% this year with USD 273mn worth of investment made in the first three quarter of the current fiscal year, while the figure stood at USD 249mn during the same period last year.
Haqjo cited insecurity, withdrawal of foreign forces, non-implementation of infrastructure projects and corruption as the main reasons behind the poor investment level.
He warned that if the situation persisted, Afghanistan’s economy would face severe challenges.
Source URL: http://wadsam.com/afghan-business-news/investment-falls-by-29-in-afghanistan-232/
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