World Economy

Afghans Need Clear Strategy to Attract Investors

Afghans Need Clear Strategy to Attract Investors
Afghans Need Clear Strategy to Attract Investors

Businessmen have said that along with the lack of security, the absence of a clear strategy to attract investment is also to blame for the economic recession in Afghanistan. They are firm in the belief that government needs to draw up a solid strategy to attract investors.

Many businessmen have painted a gloomy picture especially in terms of bringing in foreign investment—despite government’s efforts to this effect, Tolonews reported.

Many economic analysts said insecurity, lack of regulations in support of domestic and foreign investors, the lack of infrastructure, and the shortage of electricity and land are among key challenges faced by investors. They say that there is so far no clear framework to attract investment in order to grow the commercial sector in the country.  

“Although, there is interest for investment in the country, so far government does not even have a clear vision for sustaining investments and improving the status of investments in the country,” Azarakhsh Hafizi, a global affairs business expert, said.

 The Afghanistan Chamber of Commerce and Industry believes that government has not done enough to solve the challenges around attracting investors. The spokesman for the ACCI Siyam Psarlai said problems faced by current investors go unresolved.

 “Currently there is no law for industrial parks, and alongside insecurity, the lack of land and electricity for investors are still among the major challenges,” Psarlai said.

Meanwhile, the Minister of Commerce and Industry Musafir Quqandi, said the ministry has implemented plans for investment development in the country. He said, in addition to reviewing the country’s investment law, the ministry has also provided support for domestic products.

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