KABUL (SW): Qurban Haqjo, head of Afghanistan Investment Support Agency (AISA) has said if the government failed to support Small and Medium Enterprises (SMEs), the economic growth and stability would not be possible.
Speaking at a workshop in Kabul on Wednesday, he regretted that the SME sector in Afghanistan has always been looked down upon. Haqjo added that this sector contributes up to 90 per cent of the country’s export. He added that the government should pave the way for investors to have access to information technology and market.
The AISA chief further saif that work was underway to formulate a strategy for investment growth, which would be mainly focused on the SME sector.
Hamidullah Farooqi, an economist highlighted the significance of the small and medium scale businesses in bringing sustainability to the economy. He noted that worldwide, the SME sectors contribute an average 30 percent to the country’s exports that sustain the economy to a large extent.
Farooqi emphasized that the current situation in Afghanistan demands even more attention to this vital element of the economy. “To remove hurdles hindering growth in the SME sector, the capacity should be built and the way should be paved for the investors to have access to funding.” He said.
A number of economic experts who attended this session asked for amendments to banking laws and measures to best utilize the country’s natural resources.
ENDS
