India pushes Afghanistan’s economic rejuvination (Factfile)

June 28th, 2012 - 9:25 pm ICT by IANS  

* India June 28 hosted the first regional investment summit in New Delhi to promote Afghanistan’s economic rejuvenation and stability by encouraging private sector investment from across the region. External Affairs Minister S.M. Krishna called for “replacing generals with CEOs”.

* The conclave was organised by the Confederation of Indian Industry and was supported by the governments of India and Afghanistan.

* Over 80 Afghan companies, 130 Indian companies and 70 international companies from 33 countries, including Pakistan, China, Iran and the Gulf countries participated in the summit.

* The Afghan delegation included five senior ministers, including Foreign Minister Zalmai Rassoul, Commerce and Industry Minister Anwar-ul-Haq Ahady, Finance Minister Hazrat Omar Zakhilwal, Mines Minister Wahidullah Shahrani and Agriculture Minister Mohd. Asef Rahimi.

* The recommendations of the day-long investment conclave will be submitted as a framework at the Tokyo Conference July 8 where international donors will pledge funds for Afghanistan after international troops leave the violence-torn country in 2014.

* The key recommendations of the summit included providing the private sector investment protection and risk mitigation, providing incentives for investing in Afghanistan and the creation of an international fund for SMEs.

* The key sectors identified for investment include natural resources, manufacturing, infrastructure, agriculture, IT, telecommunications

* India dispelled security fears and showcased Afghanistan as low-tariff high-returns destination, what Minister Krishna described as a “narrative of opportunity to counter the anxiety of withdrawal, uncertainty, instability and foreign interference”.

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