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1-min read

Afghanistan woos India Inc; to give preference to Indian companies

Afgahistan also looks forward to investments in transportation, logistics, hotel industry, banking and textiles sectors as well.

Press Trust Of India

Updated:June 24, 2014, 11:28 PM IST
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Afghanistan woos India Inc; to give preference to Indian companies
Afgahistan also looks forward to investments in transportation, logistics, hotel industry, banking and textiles sectors as well.
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Mumbai: Keen on attracting greater funds from India Inc in rebuilding the war-ravaged nation, Afghanistan will accord preferential treatment to Indian investors, a top official said on Tuesday.

"Afghanistan has been a recipient of assistance for capacity building, infrastructure, community based business projects and humanitarian assistance from India. We intend to accord preference to Indian companies to invest in our country," Afghanistan's Ambassador to India Shaida Mohammad Abdali said at a business event here.

He was speaking at an interactive meeting on 'Trade opportunities in Afghanistan', jointly organised by the All-India Association of Industries (AIAI) and the World Trade Centre.

"Afghanistan shall endow preferential treatment at the government, societal and public levels to Indian investments through government support, land ownership, tax incentives, logistical support, liberal visa regime, investment protection and business security," he said.

Stating that Afghanistan and India have enjoyed traditional ties in the spheres of politics, culture and social interaction, he said the need of the hour is to revitalise these relations by stepping up business ties.

Pointing out that sectors like industrial development, construction, export promotion, agriculture and mining, offer areas of fruitful interaction between the two economies in the South Asia, Abdali said Afghanistan holds vast untapped mineral resources which may be tapped by Indian mining companies.

Afgahistan also looks forward to investments in transportation, logistics, hotel industry, banking and textiles sectors as well.

He asked the Indian companies to set up cement factories in his Afghanistan as the country undergoes rebuilding and will require building material like cement in large quantum.

Afghanistan produces nearly 32,000 MW electricity of which the economy utilises a mere 5,000 MW and its economy holds massive potential for cross border trade in renewable and hydro energy, he said.

A draft agreement between India, Iran and Afghanistan for the under-construction Chabha port is in process, which when operational will bring India and Afghanistan in close proximity, Abdali said.

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