October 23, 2014

Third CWI Summit on Afghanistan to be held in Dubai

By Sajad - Thu Nov 29 2012, 8:24 pm

The Third Afghanistan Summit (TAS III) working to promote Investment and Economic Development across Afghanistan and fulfill the country’s potential of becoming the hub of the region is due to be held in United Arab Emirates on the 15th and 16th of January, 2013.

The Summit will be attended by key decision makers representing Afghanistan; contractors, consultants, major donors, procurement officers, international, regional and local NGOs, UN agencies, NATO, government officials and international associations.

The initiative is being organized with the objective to allow each Ministry, Military Branch, International Agency and NGO the opportunity to present their current challenges, detail the help and assistance they need, and inform attendees how the international private-sector can help them achieve their goals; a key element, acknowledged by government policy, to the further economic stability of Afghanistan.

The geographic location of Afghanistan provides an ideal platform on which to build, with a wealth of natural resources such as energy supplies, mining and fertile land for agriculture.

Besides Afghanistan houses rich seams of copper, iron, gold, lithium and rare earth deposits worth up to $3 trillion, according to the Afghan government.

In the meantime India and Afghanistan earlier this month decided to intensify their cooperation, especially in the economic sector as they inked four pacts, including one on cooperation in development of coal and mineral resources and Indian aid for implementation of small development projects.

Foreign investment is now one of the key economic strategies to make the country more economically independent.

Presently around 3,000 small and medium plants, according to officials, are operating in the country which producing light items such as biscuits, macaroni, tissue papers, medicines, soaps, washing liquid, drinking water, juice, soft drinks, etc.

That investment is being sought especially in exploiting Afghanistan’s natural resources, which officials valued at 3 trillion dollars. But only a handful of foreign companies have shown interest in investing in its mines and gas fields.Investments have jumped 20 per cent so far in 2012 to 553 million dollars, the Afghanistan Investment Support Agency said.But last month, the commerce and industries minister said most of the investment came from Afghans, with only a few foreign investors interested.

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