UAE firms to pump $4bn into Afghanistan

Other News Materials 13 October 2008 13:23 (UTC +04:00)

Azerbaijan, Kabul,13,October / corr Trend A.Hakimi / Kabul province will get new town funded by the United Arab Emirates

Companies from the United Arab Emirates (UAE) will invest $4 billion in Afghanistan and the Arab country's government will build a brand new town in the province of Kabul. Government officials landed in Kabul on Sunday with a 16 member delegation which has been set the task of investigating the investment opportunities in Afghanistan.

The new town will cost UAE's government $200 million. The Afghan ambassador in Dubai, Farid Zikirya, said: "Since Afghanistan had good relations with the UAE before, we are trying to provide opportunities for investment in the country by extending relations between the two countries. The UAE is willing to help our country." UAE's private sector will pump the $4 billion into construction work, power, mineral resources and agriculture in the country, Afghanistan's Investment Support Association said. President Karzai's economic affairs advisor, Omar Zakhewal, said: "President Karzai's last visit abroad and the present opportunities for investment in Afghanistan are among the main reasons for the absorption of Arab traders in the country to invest in different fields. We are trying to improve our relations with these investors."

The UAE has so far invested $300 million in the country, mainly in the communication sector. The lawyer of the UAE king's successor, Muhammad Mubarak Almazroee, said: "Since we both are Muslim countries, it is important for us to work together and to improve our business relations in a sound political environment, and I hope that this will improve

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