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AISA highlights challenges facing the private sector

The Afghanistan Investment Support Agency (AISA) head, Mohammad Qurban Haqjo, highlighted the major issues facing the private sector and called on the government to draft comprehensive economic policies in cooperation with private sector. Addressing a press conference in Kabul on

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Investment falls by 29% in Afghanistan

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,

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President Ghani fails to deliver his pre-poll pledges

President Ashraf Ghani’s motto before elections was a comprehensive economic reform strategy for the nation aimed at alleviating poverty and boosting employment. Afghanistan is presently facing an unemployment rate of 40%, which is much higher compared to 25% before the

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Afghani losing its value, commodity rates on the rise

The Afghani currency has been in free fall in the past four months, losing its value by 13% against the US dollars and 9% against the Pakistani Rupees. According to Pajhwok Afghan News (PAN), the rates of food items and

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10% telecom service tax justified as step towards self-sufficiency

Afghan Finance Minister Eklil Hakimi was summoned by the Lower House of the Parliament, or Wolesi Jirga, to justify the 10% telecom service tax that is being collected despite outrage from the general public and the parliamentarians. Minister Hakimi said

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Afghan private sector invests $105mn in 19 factories

Mohammad Qurban Haqjo, head of the Afghanistan Investment Support Agency (AISA), and Hazrat Omar Zakhilwal, senior advisor on economic officials to President Ghani, inaugurated the construction of 19 new industrial factories in capital Kabul on Tuesday. The new factories are

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Donor community pledges to support Afghanistan’s agriculture sector

The officials of the United States and the World Bank have pledged to support Afghanistan’s agriculture sector at a high-level meeting in Washington, said a statement from the Afghan Ministry of Agriculture, Irrigation and Livestock (MAIL). Afghan Minister Assadullah Zamir

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Afghanistan, Pakistan to redouble efforts for greater economic integration

Pakistan’s Minister for Planning, Development and Reforms, Ahsan Iqbal, said Pakistan’s leadership was committed to taking bilateral relationship with Afghanistan to new heights. Iqbal made these remarks at a meeting with Afghanistan’s Ambassador to Pakistan, Janan Mosazai, on Tuesday. The

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Afghan government to focus on economic issues this coming winter

Addressing a group of Afghan investors and traders on Tuesday, President Mohammad Ashraf Ghani said this winter the Afghan government’s main focus would be on the economic issues of the country. President Ghani stressed that his administration’s economic goal is

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Talk less and act more: AISA Chief calls on the Afghan government

The Afghanistan Investment Support Agency (AISA) and the Kabul Green Expo organized the first International Construction and Food Expo from 25-28 August in Kabul. Speaking on the occasion, AISA Chief Mohammad Qurban Haqjo slammed the National Unity Government (NUG) for

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Herat’s industrial park to get new facilities

Herat Governor Mohammad Asif Rahimi laid the foundation stone for three major facilities in the industrial park of the province. The facilities include the biggest wheat storage by Aria Company, a permanent exhibition hall and a new administrative building for

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USAID launches $13.3 million investment climate reform program

The United States Agency for International Development (USAID) announced a new $13.3 million program to make it easier for private sector firms to do business in Afghanistan. The four-year Afghanistan Investment Climate Reform Program will be implemented by the International

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Afghan Commerce Minister plans more investment opportunities for the country

Newly appointed Ministry of Commerce and Industries, Humayon Rasa, presented his 100-day Action Plan to the media. He has listed investment growth as his top priority and plans to attract more investors to Afghanistan by providing an investment-friendly environment. He

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France boosts WFP emergency response in Afghanistan while helping local economy

The Government of France has announced a contribution of €400,000 (US$ 424,000) to the World Food Program (WFP) to assist with emergency response in Afghanistan in 2015. The announcement was formalized at a signing ceremony on Wednesday at the French

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IMF to address Afghanistan’s macroeconomic issues

An International Monetary Fund (IMF) staff mission, led by Mr. Paul Ross, has reached a staff-level agreement with the Afghan authorities on macroeconomic policies and structural reform agenda that could be supported by a nine-month Staff-Monitored Program (SMP). An SMP

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First half year of National Unity Government marked with economic stagnation

Afghanistan’s economy has shown a declining trend ever since the formation of the National Unity Government (NUG). The leaders of the business community have voiced concerns about the dwindling business activities. According to a recent assessment by the Central Statistics

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Delay in government formation threatening the Afghan economy

The Afghan business community leaders have criticized the government for delay in forming the government. President Ashraf Ghani assumed power exactly four months ago and still has not been able to complete the formation of his government. He fired countless

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Afghans not too optimistic about economic situation

Afghans have cited deteriorating economy as their top concern, according to a new Gallup poll. Two in three Afghans see local economic conditions getting worse, as per the poll. The new poll illustrates that the Taliban are not the only

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President Ghani encourages domestic industrial growth

President Ashraf Ghani introduced his much-awaited cabinet nominees to the Parliament on Tuesday and termed economic development, fighting corruption and promoting inclusivity as his cabinet’s priorities. He stressed upon encouraging domestic industrial growth and moving away from relying on donors’

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Afghani currency picks up after NUG announces cabinet nominees

The value of Afghani currency increased immediately against the US dollar after the National Unity Government (NUG) announced its cabinet nominees. Even after the end of the elections the Afghani currency failed to gain momentum. The delay in formation of

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Hand-woven Carpet Sector Primed for Growth in Afghanistan

Hand-woven carpets—as the largest legal export—are a key component of the Afghan economy. There are more than one million people employed by the industry, the second largest employer in the country behind agriculture. One in eight families work directly or

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Ahmad Zia Masood calls for coordination between Energy and Agriculture Ministry

Ahmad Zia Masood, President Ashraf Ghani’s special envoy, called for coordination between the Ministry of Agriculture and Livestock and Energy and Water to help address the country’s economic issues. Addressing a conference in Kabul on Saturday, Masood said the two

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London Conference assures support to Afghanistan to achieve self-reliance

The National Unity Government of the Islamic Republic of Afghanistan met with the international community on 04 December 2014 in London to reaffirm and consolidate partnership. The participants confirmed the Afghan Government reformed program, entitled “Realizing Self-Reliance: Commitments to Reform

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International community must stay committed to Afghan support-UN

 The international community must remain committed to supporting Afghanistan’s development under new President Ashraf Ghani, United Nations Assistant Secretary General Haoliang Xu said. More than two months after Ghani was sworn in, following an election dispute that ended in a

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Afghan state-owned businesses revenue decline by 90%

Afghan Ministry of Finance officials have reported a 90% decline in the revenue of state-owned businesses. State-owned businesses have recorded revenue of 377mn AFN this year compared with 3.4bn AFN last year. This brings up the old question of privatizing

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