KABUL (SW): Officials at the Afghanistan investment support Agency (AISA) report of a 30 percent reduction in investment and business in the ongoing fiscal year.
Mohammad Qurban Haq Jo, head of AISA stated that most slumps in investment took place in mining industry, construction sector, transport and agriculture. He
He further stressed that investment rate in Afghanistan started experiencing a downward trend since the new government was formed following a long and complicated election process. He believed the unemployment spike has forced a lot of young people to leave the country.
Abdul Rahim Faiza, Deputy Head of the Afghanistan Industrialists Association (AIA) said on the occasion that confusion about the market situation and lack of government’s support to the industry has pushed many units to the edge of bankruptcy abyss.
He believed that trade deficit has been the main driving force behind the long running economic downturn in Afghanistan.
AIA Deputy Head said that high custom fees and lack of industrial base have been a great deterrent to the industrialists. He added more loan should be granted to the industries in Afghanistan in order to stimulate growth in this sector.
ENDS
