Economic

Mines Extraction Guarantees Afghanistan’s Economic Growth

Sunday March 16, 2014
Kabul (BNA) The only alternative that could ensure Afghanistan’s economic sustainability and financial capacity is to invest on mines extraction and natural resources of the country: this was stated by Minister of Mines and Petroleum Mohammad Akbar Barakzai in Washington.
“Afghanistan today receives $ 146 million per annum from mines of the country, the government intends to increase the amount to billions of dollars until the year 2020,” Minister of Mines and Petroleum Mohammad Akbar Barakzai said. The US geological department has submitted survey conducted on mines of Afghanistan to the Afghan government officials. The survey has conducted with the help of highly latest and modern technology. In 2010, the US scientists had estimated Afghanistan’s natural resources to one trillion dollars. But the Afghan officials have said that the natural resources of the country is much higher the figure announced by the US scientists. Economic analysts have urged investments on Afghanistan’s mines and natural resources can lead the country into a hub of economic activities and socioeconomic development.
“Afghanistan is rich of natural resources, however, there some investments in mines sector, but security threats have overshadowed investors’ confidence to come forward and invest money in this field,” economic analyst Mohammad Akaram said. “Each corner of Afghanistan is rich of natural resources and mines, first we have to survey those areas where mines exist and it needs international investments.” Based on the statements of officials of Ministry of Mines and Petroleum (MoMP), in recent years there have been some investments on copper, iron and lithium. But these investments weren’t adequate as compare to the scale of mines existed in the country, saying that the investors hesitate to investment in this sector because of security challenges, so the country extremely requires focusing on the security situations to attract global investments. In the meantime, the citizens believe that investments on mine sector help the country to get self-reliance and boot economic growth.
“Investment on mines of Afghanistan could nourish regional economic activities, so international investors should come forward and invest in this sector and get advantage,” local resident Mirwais said. This comes at a time that already India and China have invested millions of dollars on mien sector in Afghanistan and more investments are expected in the coming years.  

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