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
QIA and Goldman Sachs plan to expand partnership with $25bn investment target
DOHA/DUBAI: Qatar Investment Authority and Goldman Sachs have signed a preliminary agreement to expand their strategic partnership, targeting $25 billion in investments by the Gulf wealth fund in Goldman-managed vehicles and co-investment opportunities.
Under the memorandum of understanding, QIA will commit to be an anchor investor in several of the US bank’s flagship and innovative strategies, they said in a joint statement. Goldman Sachs will also look to “meaningfully” increase its headcount in Doha, though it did not provide figures.
In a statement, David Solomon, chairman and CEO of Goldman Sachs, said Qatar is on an “exciting path of economic diversification,” citing the expansion of national champions, the development of capital markets and growth in the talent base.
He added: “This creates substantial opportunity to widen the state’s impact, global connectivity, and attractiveness as a multi-faceted investment partner.”
Qatar, one of the world’s leading exporters of liquefied natural gas, is seeking to diversify its economy away from hydrocarbons and attract more foreign investment.
The expanded partnership “provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit,” QIA CEO Mohammed Saif Al-Sowaidi said.
“This agreement builds on our longstanding relationship with Goldman Sachs and provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit,” he said.
Al-Sowaidi added: “Importantly, this partnership extends beyond capital deployment. By committing to expand its presence in Doha as a key strategic hub for asset management, Goldman Sachs is reinforcing Doha’s position as a regional financial center.”
Al-Sowaidi said the partnership would deliver meaningful benefits to the economy through knowledge transfer, job creation and enhanced expertise in alternative investments.
As part of its diversification efforts, Qatar has been expanding its financial sector by drawing in global asset managers and investment banks, many of which have been boosting their presence in Doha to work with entities including QIA.
QIA has about $580 billion in assets under management, according to sovereign-wealth-fund research firm Global SWF.
