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Economically stable Afghanistan a panacea for all ills: CEO

Economically stable Afghanistan a panacea for all ills: CEO

Jul 12, 2015 - 16:52

KABULinfo-icon (Pajhwok): Chief Executive Officer (CEO) Abdullah Abdullah acknowledged on Sunday insecurity was a major hurdle to investment in the country.

Speaking at a ceremony arranged in the honour of Qurban Haqjo, who has been appointed as head of the Afghanistaninfo-icon Investment Support Agency (AISA), Abdullah promised no stone would be left unturned to make the country economically independent.

Abdullah said AISA had been created to encourage investment in Afghanistan and Haqjo’s appointment would make the institution more vibrant and enable it to forge solid cooperation among departments, businessmen, investors and industrialists.

He assured of unity government’s full support in expansion and growth of investments in Afghanistan. Backwardness, poverty, unemployment, drug trafficking, graft, and lack of implementation of laws have caused impediment in the way of investment.

According to the CEO, insecurity was another major reason investments did not expand in the country. Afghanistan’s economy should come out of current situation.

AISA should be given membership of the council of ministers to work closely with relevant ministries, Abdullah suggested.

Humayun Rasa, commerce and industries minister, said without investments national economic growth was impossible and AISA’s had a specific role to play in this regard.

Announcing support for Afghan investors, Rasa said: “currently we have $8.2 million trade deficit balance. This is unacceptable and we should find a way out of it and the only way out is growth of investment in the country.

He said AISA should focus more on research to provide better facilities for businessmen and investors. Haqjo expressed gratitude to the president and CEO for his appointment, promising to work with honesty and sincerity to improve Afghanistan’s war-battered economy.

“Afghanistan’s economy is fragile and there are many challenges in this regard. The only way that can save Afghanistan is stable economic growth,” Haqjo said, adding a plan had been worked out and presented to the president and the CEO to improve the country’s economy and the AISA performance.


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