MoIC establishes joint stock company

KABUL (TOLOnews): The Ministry of Industry and Commerce (MoIC) said that a committee has been established to regulate the work of businessmen and industrialists returning to the country.

The ministry emphasized that a joint-stock company will be established within the framework of this committee, which aims to attract investors with low capital.

Akhundzada Abdul Salam Jawad, the Commerce and Industry spokesman, said: “The committee for setting up facilities for returning businessmen and craftsmen has been formed, and this committee is for the building of Afghanistan. For those who have small capital and do not have the ability to do big business, MoIC plans to create a joint-stock company for them.” This company will be established under the supervision of this committee in the MoIC.

The spokesman of the Islamic Emirate Zabihullah Mujahid said: “A joint stock company can create a general coordination among Afghan investors in Afghanistan and also give everyone an opportunity to have a share in the company.”

The Afghanistan Chamber of Commerce and Investment (ACCI) called the establishment of joint-stock companies in the country an important step in creating investment opportunities in Afghanistan.

“Stock companies in other countries have given good results. In Afghanistan, we used to have various stock companies and those companies were partners with the former Soviet Union,” said Khan Jan Alokozay, a member of the ACCI’s Board of Directors.

Meanwhile, some economic experts called the establishment of a joint-stock company as a positive step in the integration, combination and prevention of the waste of small amounts of capital to foreign countries, and they emphasized the same treatment for all businessmen who share in this company.

“The establishment of the national investment Joint Stock company in Afghanistan is a good step and a better step in order to integrate and properly combine the small capital that comes from outside the country. In order to prevent their waste and their disappearance, this is a good step of protection for small capital owners,” said Sayed Masoud, an economic expert.

“The establishment of joint stock companies leads to the accumulation of capital, and with the provision of sufficient capital, agricultural mechanism farms are built in industrial areas, which have effective experience with stock companies in the past,” said Azerakhsh Hafezi, an economic expert.

The high-ranking officials of the Islamic Emirate has said that they are considering customs exemptions, distribution of land in industrial parks, and tax exemptions for Afghan businessmen who transfer their capital to the country.