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Afghanistan open to more investors from Malaysia

By Voon Miaw Ping

KUALA LUMPUR, Oct 1 -- Afghanistan is hoping to tap on Malaysia's expertise and participation in a wide range of economic sectors as the republic take on the road to rebuilding the country after decades of being mired in wars and political turmoil.

Chargé d’affaires of the Afghanistan Embassy in Malaysia, Abdul Mueen Shahid, said Afghanistan regarded Malaysia as a potential partner in its economic aspirations and hoped more investors from Malaysia would consider investing in the landlocked republic, located in south-central Asia. 

Speaking to Bernama International News Service at Afghanistan's 100th anniversary of Independence Day celebration here on Friday, Shahid said agriculture, infrastructure and construction, water and energy, and mining are among the many sectors that Malaysian investors could venture in. 

He added that a latest survey estimated that Afghanistan holds up to US$3 trillion in untapped mineral deposits, which could make it one of the richest mining countries in the world.

"We are rich in minerals, and Malaysia have expertise in mining. We hoped that they (Malaysian companies) will invest in this sector in Afghanistan,” he said. 

Shahid added that Afghanistan's strategic location within south-central Asia is also making it an important transit hub with the potential to play a major role in economic integration in the region. 

“Afghanistan desires to deepen its economic ties with all countries and particularly, we view Malaysia as a potential partner in our economic aspirations.

“We greatly welcome the participation of Malaysian investors from different sectors to Afghanistan,” he said.

He added that as of now, Afghanistan's major import from Malaysia is palm oil, which amounted to about US$70 million in 2018. 

According to a report, Malaysia's investments in Afghanistan in 2017 were valued at US$1.05 million, primarily in Islamic finance and insurance or ‘Takaful’ activities.

-- BERNAMA 

 

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