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| Afghanistan |
| Sharp drop in investment in Afghanistan in '07 |
| 2008-01-29 |
| The Afghanistan Investment Support Agency (AISA) Monday said that investment in the war-torn country had dropped by more than half during the previous year. A statement released from AISA's main office here said the reason behind the sharp fall was the worsening security situation in 2007. The year was reckoned as the bloodiest as the emboldened Taliban captured or attacked many districts in the south and came close to the central capital by carrying out several fatal suicide bombings on local and foreign troops. According to figures by AISA, the private investment, both local and foreign, had dropped to USD 500 million during 2007. In 2006, the trend was rising and the investment was recorded at USD one billion. However, the sole reason responsible for the plunge is the worsening security situation, which kept investors from injecting money into the markets of the war-shattered country. Besides suicide bombings and attacks on private and government installations, several foreigners were also kidnapped by the militants during the previous year. Other small factors responsible for the drop in investment are the criminal gangs and the bureaucratic hurdles, said the statement. Criminal gangs abducted businessmen for ransom, which shattered the confidence of the investors, it added. However, the picture is not as gloomy as the agency said, where investment would again rise in the next year as several foreign and local entrepreneurs have shown interest in using their money in Afghanistan. |
| Posted by:Seafarious |
| #2 And this in the age of stupid money. When the greedheads don't see a chance to make a buck in bassackwardsistan, you know things are going down hill... |
| Posted by: M. Murcek 2008-01-29 14:48 |
| #1 Afghanistan should take this as a barometer on whether they are emerging from the dark ages or plunging back into disaster. Formally embracing Islam in the constitution can not have helped. |
| Posted by: Darrell 2008-01-29 09:23 |