New Delhi: Afghanistan has offered an enormous investment opportunity to Indian firms by declaring five-year tax exemptions for companies which are ready to invest in the country’s new and emerging sectors, such as gold mining. This proposal was given by Afghanistan’s Minister of Industry and Commerce, Alhaj Nooruddin Azizi, on Monday during an interactive session organised in New Delhi by Assocham.
Furthermore, Azizi told Indian industry representatives that Afghanistan is looking for greater economic cooperation with India in many fields. “There is huge potential available in Afghanistan. Even you will not find a lot of competitors,” he said, encouraging investments in mining, manufacturing and other priority sectors.
The minister has assured that the government of Afghanistan is ready to extend tariff support, facilitate land allocation, and offer favourable conditions to Indian businesses. "The five-year tax exemption will be given to companies that may be interested in investing in new sectors," he added and noted that gold mining is one of the key areas Afghanistan wants to develop with foreign partnerships.
The invitation by the minister comes at a time when Afghanistan is trying to stabilise its economy, attract foreign capital, and tap the vast unexploited natural resources. The offer of extended tax holidays and simplified facilitation is likely to draw interest from Indian firms looking for newer international investment destinations.