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News - Afghanistan

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Around 80 Afghan companies will transfer their company base from Pakistan to Afghanistan amid assurances that the government to help build their competitive edge in the global market, the country's leading investment agency said Tuesday.

The Afghanistan Investment Support Agency (AISA) said it also gave the businesses its guarantees of support.

"We commit to provide for them land, electricity, and other facilities so that they can compete with foreign products," AISA chief Wafiullah Iftikhar told TOLOnews.

Afghanistan needs to move away from its extreme economic dependency on outside sources, namely donor funds. Its domestic products still only supply a very small part of the domestic demand.

The Afghanistan Chamber of Commerce and Industries welcomed the news saying that it is likely to encourage many other investors to base their businesses in Afghanistan.

"It's not only investors coming from Pakistan. There are others who want to transfer their investments from China, Tajikistan, and Dubai to Afghanistan. They need support," said Khan Jan Alokozai, ACCI deputy.

The news comes amid fears of an economic crisis post-2014 when international troops and foreign companies are expected to withdraw from Afghanistan.

Afghanistan currently has a trade deficit of more than 90 percent.

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