MOIC Announces Signing of 22 Agreements With Domestic Institutions

The Ministry of Industry and Commerce (MOIC) has signed 22 memoranda of agreement with a total value of $3.5 million dollars with the aim of supporting and spreading small and big businesses in the country.

These memoranda have been signed with domestic institutions and will be implemented in 14 provinces.

The spokesman of the Ministry of Industry and Commerce, Akhundzada Abdul Salam Jawad, said that more than 6,000 people will directly benefit from these projects.

The spokesman said: “In this meeting, agreements were signed with 22 institutions worth more than $3.5 million dollars for the growth and development of small and medium-sized businesses, and it is planned that projects will be implemented in different sectors in 14 provinces, and about 6,000 people will benefit directly.”

Meanwhile, the Afghanistan Chamber of Commerce and Investment (ACCI) said that for the growth of small and large businesses in the country, it is necessary for the Islamic Emirate to provide more facilities in the tax and transit sectors.

Mirwais Hotak, head of the board of directors at ACCI, said: “We welcome all movements that lead to the growth of the private sector and the development and growth of the country’s economy and we support it within the limits of our capabilities. Supporting small businesses, which are important in our country, can be effective in creating jobs and preventing poverty and unemployment.”

Some economic analysts called the small businesses an important part of the country’s economy and emphasized more support in this sector.

“Increasing the trade balance, creating job opportunities and increasing the country’s exports are dependent on the growth and support of small and medium businesses.

Therefore, the providing government facilities for small and medium enterprises can be very important and vital,” said Abdul Zohor Mudaber, an economic analyst.

According to the statistics of MOIC, during the past two years, 63 memorandums have been signed between the ministry and domestic institutions worth $54.5 million, which have provided employment for more than 641,000 people in 25 provinces.