Chinese mining company to invest in Afghanistan

KABUL (TOLOnews): Fan China Afghan Mining Processing and Trading Company (FAMPTC) will invest $350 million in various sectors including power generation, construction of a cement factory, and health in Afghanistan, said the media office of the deputy PM.
Mawlawi Abdul Kabir, the acting prime minister, in a meeting with the head of the Chinese company pledged that the Islamic Emirate protects the lives and property of domestic and foreign traders.
“In this meeting, the Chinese delegation pledged to invest more than 350 million dollars in Afghanistan in the first step and encourage other Chinese companies to invest in the country. They were also assured by the Emirate that anyone who invested in Afghanistan will be provided with the necessary facilities,” said Mohammad Hassan Haqyar, head of the media directorate of the political deputy of the PM.
Meanwhile, a spokesman for Islamic Emirate said that the current government has provided investment opportunities in various areas for foreign and domestic traders.
According to Zabiullah Mujahid, spokesman for Islamic Emirate many investors have shown interest in investing in Afghanistan’s mining, oil, and agriculture sectors.
“We have a wide area for investment in various fields such as mining, oil, road construction, agriculture, and other sections in Afghanistan. So far, a large number of investors have come, and many of them are still in dialogue with the Islamic Emirate,” said Zabiullah Mujahid.
“We have attracted investments of around ten billion dollars and controlling the inflation rate and keeping the prices of products and goods low, and increasing exports, are other achievements of the Islamic Emirate,” said Abdul Latif Nazari, deputy of the Ministry of the Economy. But the Afghanistan Chamber of Commerce and Investment considers political issues, visa issuance, and banking problems to be big obstacles to the investment process in the country.
“When the work starts, there are some international problems in transferring money, in transferring dollars, and other issues, Until these issues are resolved, I think that the process of foreign investment in Afghanistan is a bit difficult,” said Khanjan Alokozai, a member of the ACCI.
According to recent concerns of the United Nations regarding the increase in poverty, unemployment, and migration among Afghan citizens, the Acting Minister of Commerce of the Islamic Emirate said in his latest statements that until an industrial revolution occurs in Afghanistan, it will be difficult to achieve economic development in the country.