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Corruption hampering investment in Afghanistan: Karzai
Kabul, June 15: Rampant administrative corruption and bribery are hampering efforts by some 3,000 domestic and international firms to invest in Afghanistan, President Hamid Karzai said today.
Kabul, June 15: Rampant administrative corruption and bribery are hampering efforts by some 3,000 domestic and international firms to invest in Afghanistan, President Hamid Karzai said today.
"Three thousand national and international companies have been registered to invest in Afghanistan, but due to the bribery and corruption they have not started their work," Karzai said during a meeting of the administrative reform and civil service commission.
"During my stay in London, one of the world's best known people, who has vowed to invest lots of money in Afghanistan, seriously complained about corruption and bribery in our administration," the President said without naming the prospective investor.
In the three months to April, Afghanistan had registered 3,500 investment proposals, ranging from 20,000 dollars to 180 million, commerce minister Sayed Mustafa Kazemi has said.
While there has been a lot of interest from investors, entrepreneurs have complained of the weak rule of law, excessive bureaucracy and corruption.
Karzai said the administrative reform commission headed by vice-president Amin Arsala had been set up to reform the administration. It held its first public meeting in April.
"We want to create an administration in accordance with international norms and procedures which is useful and honest."
Bureau Report
"During my stay in London, one of the world's best known people, who has vowed to invest lots of money in Afghanistan, seriously complained about corruption and bribery in our administration," the President said without naming the prospective investor.
In the three months to April, Afghanistan had registered 3,500 investment proposals, ranging from 20,000 dollars to 180 million, commerce minister Sayed Mustafa Kazemi has said.
While there has been a lot of interest from investors, entrepreneurs have complained of the weak rule of law, excessive bureaucracy and corruption.
Karzai said the administrative reform commission headed by vice-president Amin Arsala had been set up to reform the administration. It held its first public meeting in April.
"We want to create an administration in accordance with international norms and procedures which is useful and honest."
Bureau Report