Emirati companies attract 20b afs investment last year

KABUL (Pajhwok): The General Directorate of Emirati Companies has announced successfully attracting and mobilizing more than 20 billion afghnis in both domestic and foreign investment by creating favorable conditions last year.

As part of a program highlighting the annual achievements of government institutions, the Directorate presented its annual report on Tuesday during a press conference at the Government Information and Media Center.

Speaking at the event, Maulvi Ahmad Jan Bilal, Acting Head of the General Directorate of Emirati Companies, stated that in addition to strengthening coordination among Emirati companies and ensuring effective implementation of projects and initiatives, the Directorate actively worked to attract investment. These efforts, he said, significantly contributed to economic growth and job creation.

According to Bilal, approximately 8.4 billion afghanis were deposited into the government’s revenue account over the past year.

Additionally, around 2.77 billion afghanis in outstanding receivables owed to Emirati companies were recovered, and about 611 million afghanis in debts were settled.

He further noted that, based on a decree from the Leader of the Islamic Emirate, over one million jeribs (a traditional land measurement unit) of land were allocated to Emirati companies during the year. These lands are slated for revitalization and use in agricultural and commercial projects.

Among other key achievements, Bilal cited securing World Bank approval for financing the CASA-1000 project, signing a contract to generate 619 megawatts of electricity with a total investment of approximately $591.6 million, and completing the 220-kilovolt Torghundi–Herat power transmission line spanning 85 kilometers. Additionally, a total of 662.8 million kilowatt-hours of electricity was produced from the Naghlu, Surobi, and Mahipar hydropower plants.

He also reported that 70 kilometers of new water supply networks were constructed nationwide, while 35 kilometers of existing, outdated infrastructure were repaired or rehabilitated.

In total, 5,339,092 cubic meters of potable water was distributed to consumers. Furthermore, 17 wells were drilled to improve water access, and 11 water supply projects were designed and initiated.

sa/ma