KABUL: Afghanistan’s Taliban-led administration has set up a consortium of companies, including some in Russia, Iran and Pakistan, to create a investment plan focusing on power, mining and infrastructure, the acting commerce minister said on Wednesday.
The consortium included 14 Afghan businessmen and his ministry had signed a memorandum of understanding with the foreign companies who would send delegates to Kabul to look into projects worth up to $1 billion, Nooruddin Azizi told Reuters.
Afghanistan’s economy has been severely hampered since the Taliban took over in 2021, sparking the international community to cut most development funding and enforce sanctions on the banking sector.
A series of attacks waged by Daesh against foreign targets has also worried some investors.
Azizi said the administration was focused on launching several longterm business plans including the consortium and special economic zones, and that it was working on ensuring security.
“Lots of discussions on security have taken place in cabinet meetings also, commissions have been established and ... the hiding places (of militants) have been destroyed,” he said.
“The Islamic Emirate will ensure security and will support the private sector in the security field,” he said, referring to the Taliban administration.
As well as mining and power projects, he said the consortium was eyeing the possibility of building a second tunnel through the Salang pass that connects Afghanistan’s north to the rest of the country, and a project to divert water from northern Panjshir province to the capital as well as re-building the main highway connecting Kabul to western Herat province.
The minister said the Taliban administration was planning to focus on building special economic zones it hoped would attract foreign investment.
His ministry has helped develop a plan to convert foreign bases into the zones, and a board was being set up with representatives of different ministries. He declined to elaborate while the details were finalized with other ministries and senior leadership.
Shipments of oil, gas and wheat under a major deal with Russia last year had begun arriving in Afghanistan by road and rail through Central Asia, he said, after the payments were made via banking channels despite sanctions that have limited many international payments.
He did not elaborate on which banks had facilitated the payment.
Taliban sets up investment consortium with firms from Russia, Iran
https://arab.news/bf4kv
Taliban sets up investment consortium with firms from Russia, Iran
- Afghanistan's economy has been severely hampered since the Taliban took over in 2021
- Azizi said the administration was focused on launching several longterm business plans including the consortium and special economic zones
Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference
RIYADH: Saudi Arabia’s National Development Fund has unveiled the lineup of strategic partners for the Development Finance Conference MOMENTUM 2025, as the Kingdom accelerates efforts to build a more integrated development-finance ecosystem.
The conference, scheduled for Dec. 9–11 at the King Abdulaziz International Conference Center in Riyadh, will bring together policymakers, lenders and global development institutions as the Kingdom seeks to expand financing channels for key sectors.
Saudi National Bank and Arab National Bank are named Main Partners, while Riyad Bank will serve as Banking Partner, NDF said in a press release.
Bank AlJazira and Saudi Awwal Bank join as Enabling Partners, and public-sector participants include Invest Saudi, the Made in Saudi Program, and the Saudi Conventions and Exhibitions General Authority.
Riyadh Municipality also joins the list as the host city partner, while Saudi Post is the logistics partner for the conference.
“Collectively, these partnerships advance the conference’s vision of fostering collaboration among public and private sectors, contributing to Saudi Vision 2030 objectives,” the release said.
Organized by NDF, this year’s conference is convened under the theme “Leading Development Transformation.”
MOMENTUM 2025 reflects the NDF’s central role as a principal enabler of development in the Kingdom and as a strategic driver of the national development finance system through its 12 affiliated development funds and banks.
“Through this conference, NDF aims to align efforts, amplify impact, enhance coordination and integration, and build meaningful partnerships with leaders across the public and private sectors. Together, these efforts are intended to ensure sustainable growth and empower strategic sectors to deliver on national and global development goals,” the release added.
The program will feature more than 100 speakers from over 120 local and international entities, further underscoring the conference’s role as a national forum supporting the leadership’s vision of building a dynamic financing ecosystem that empowers key sectors.
Several princes, ministers, senior officials, CEOs, global leaders, development experts, and economists are scheduled to attend the conference.
The event will spotlight the contribution of the private sector and small and medium-sized enterprises in elevating the Kingdom’s economic growth, generating jobs, and boosting competitiveness.
