Minister Farhang Supports Reduction in Barriers to

On 18 October 2006, H.E. Excellency Dr Mir Muhammad Amin Farhang, Minister of Commerce and Industries, delivered the keynote address at a Business Networking Event sponsored by the Afghanistan Investment Support Agency (AISA) which took place at the Serena Hotel in Kabul. Attended by prominent representatives of business and government, Dr Farhang highlighted the need for the right legal framework and the need to stamp out bureaucracy and corruption in government as key requirements for attracting investment. Acknowledging the constraints to private sector development, Dr Farhang highlighted the need for dialogue with business. As an example of this, he announced that the MoCI would be organizing a major private sector conference in the near future to address solutions to these constraints.

Mr Orjand Helland, Investment Officer from the Multilateral Investment Guarantee Agency (MIGA), presented his organisation’s activity in Afghanistan.

MIGA, a member of the World Bank Group, is a multilateral risk mitigator, promoting foreign direct investment into developing countries by insuring investors, mediating disputes, and sharing information on investment-related issues. MIGA administers the Afghanistan Investment Guarantee Facility (AIGF) which was established in 2004 to provide potential investors with up to USD $60 million of insurance against political risks. The AIGF provides coverage against the risk of transfer restriction, breach of contract, expropriation, and war and civil disturbance.