The Afghan Business Council in the United Arab Emirates (UAE) convened recently to discuss pressing economic issues and strategies for creating employment opportunities for Afghan citizens. On the second day of their meeting, participants delved into various aspects of Afghanistan’s economy, underscoring the importance of such gatherings in addressing the country’s financial challenges.
Haji Obaidullah Sader Khail, head of the Afghan Business Council in the UAE, emphasized the significance of these discussions, stating, “At this conference, the focus was on how to create job opportunities for the Afghan people. Everyone agreed that instead of aid, projects should be established to provide jobs for the people.”
During the two-day event, topics included the banking sector, foreign direct investment in mining and manufacturing, and the international community’s role in alleviating Afghanistan’s current hardships.
Economic analyst Sayed Quraishi commented on the discussions, noting, “The conference discussed Afghanistan’s banking and financial sector, as well as foreign direct investment in the mining, production, and industrial sectors, and the economic challenges that exist, along with how the international community can address Afghanistan’s current challenges.”
Furthermore, the Afghan Chamber of Commerce and Investment called for global organizations to resume their activities in Afghanistan. Khan Jan Alokozay, a board member of the ACCI, remarked, “International institutions, including the World Bank and the Asian Development Bank, have many unfinished projects in Afghanistan, with some reaching up to 90% completion. These projects need to be completed, but they are deteriorating day by day due to a lack of funding. It is a serious need for these organizations to return and restart charity projects, construction projects, and development projects.”
Since the Islamic Emirate assumed power, Afghanistan has faced severe economic hardships due to asset freezes, banking restrictions, and the suspension of development aid, resulting in increased poverty levels across the nation.
