By IANS,
New Delhi: Dispelling security fears, Afghanistan Thursday assured Indian investors a business-friendly environment and said there are 17 key sectors, including mines, cement, steel and agriculture, in which they can invest and reap good returns.
“Please don’t write off Afghanistan. We are willing to pay personal attention to facilitate your investment in our country,” Commerce and Industry Minister Anwar-ul-Haq Ahady said at the Delhi Investment Summit on Afghanistan here.
“We allow 100 percent foreign ownership of enterprises, easy repatriation of profits, treat foreign investors identical to domestic ones, and we allow accelerated depreciation,” said Ahady.
“In many ways our Company Law gives shareholders the same rights that they enjoy in the US.”
Foreign Minister Zalmai Rassoul reminded the participants how investments could play an important role in restoring peace and stability in the region.
It was widely recognised and noticed throughout history that greater wealth creation and prosperity had a direct impact on improving security in a country and in the region, he said, referring to the inter-linked relationship between economic growth and security.
“I believe greater investments results in increased economic national activities in any country including, but not limited to, additional revenues, job creation, income generation opportunities which in turn leads to increased prosperity and service delivery,” Rassoul said.
The day-long summit is organised by the Confederation of Indian Industry in association with the governments of India and Afghanistan.
Ahady said Afghanistan offered very good returns on investment, substantially higher than the investors can get in other countries.
“Even though there are some security risks, I am very firmly of the view that even when you take into account the high level of risk, the return on investing in Afghanistan is much greater than most other parts of the world,” he said.
The minister urged Indian investors to help Afghanistan develop its infrastructure and industries.
“Twenty years of war destroyed the infrastructure supporting these industries and while they have restarted, they often lack the technology, expertise and scale to be truly competitive,” he said.