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Afghanistan investments down by 26pc: AISA

Afghanistan investments down by 26pc: AISA

Oct 31, 2015 - 18:10

KABULinfo-icon (Pajhwok): The Afghanistaninfo-icon Investment Support Agency (AISA) on Saturday said investments have declined in provinces, but increased by a 10 percent in central capital Kabul.

According to AISA, more than $610 million were invested in Afghanistan during the first nine months of 2014, compared to around $450 million during the same period in 2015.

The figures show around 26 percent decrease in investments in the country.

Qurban Haqjo, AISA head, told journalists in Kabul this year the least investments took place in construction, industry, agricultureinfo-icon and services sectors.

He said the construction sector saw a 58 percent decline in investments. Last year investments worth $200 million had taken place against $83 million so far this year, he said. He said the industry sector had also recorded a 25 percent decrease.

The investments in the agriculture sector decreased by 14 percent when compared to last year’s $17 million, he said, adding that the services sector investments stood at $199 million this year against last year’s $220 million.

Haqjo said there was 89 percent decline in investments in Nangarhar, 83 percent in Herat, 82 percent in Kunduz, 59 percent in Khost and 52 percent in Helmand.

But, he said, the investments witnessed an increase in Kabul, linking the decline in provinces to lack of political and economic stability, insecurity, departure of foreign forces, capital flight, lack of infrastructure, long-term loans for investors and administrative corruption.

“Major reasons that hamper economic development are the lack of a clear vision for future by the unity government and political and economic instability,” he said, adding that investors were ready for investments but graft, lack of electricity and security dissuaded them.

He said investments in Kabul showed a 10 percent increase. Last year’s nine months investment in Kabul was $249 million and $273 million in the same period this year.

Investments in the mining sector stood at $65 million last year compared to around $69 million this year, he said.

In the last 14 years around $10 billion have been invested in the country and these investments show a decline from 2011 onwards, according to Haqjo.

He said 82 percent of the investments were domestic while 18 percent of them were foreign.



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