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Negative media reports lead to investment cut

Negative media reports lead to investment cut

Oct 01, 2011 - 19:11

KABULinfo-icon (PANinfo-icon): Instability and negative reports about Afghanistaninfo-icon by international media have led to a cut in foreign investment from $37 million (1.7 trillion afghanis) to $23 million in the first six months of 2011, officials said Saturday.

Total investment in the first six months of the current year was $258 million, including $23 million foreign investment, compared to $266 during the corresponding period of 2010, the Afghanistan Investment Support Agency (AISA) official said.

Abdullah Ahmadzai told Pajhwok Afghan News although insecurity had a role in the falling levels of foreign investment, the main cause was negative reporting on the situation by international media outlets.

Previously, foreigners invested in agricultureinfo-icon, public services, reconstructioninfo-icon and industries, but this year they have evinced an interest in public services alone. Investment in other sectors had declined, he said.

Foreign investment in public services increased to $83 million in the first half of 2011 from $72 million, he said, adding in agriculture sector investment fell from $7 million in 2010 to $2 million this year.

In the industrial sector, the investment reduced from $80 million to $50 million. Only id="mce_marker"22 million was put in reconstruction, compared to id="mce_marker"37 million during the period last year, he added.

Last year's total investment in Afghanistan was $500 million. From 2003 to date, $5.6 billion investment has come from13,000 domestic and 6,000 international companies.



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