JEDDAH, 20 February 2005 — Afghan President Hamid Karzai had a clear message for the participants of the annual Jeddah Economic Forum yesterday. Afghanistan is an open opportunity for investment and profit making. Throughout his speech, Karzai emphasized the positive points about Afghanistan and the progress that has been made in rebuilding it from virtually complete ruin of infrastructure and civil services. The title of his session was ‘Rebirth of a nation: Motivating a broken soul.’ “Afghanistan is a nation reborn. Its infrastructure was broken but the spirit of its people was not and this spirit is taking it high,” said Karzai. After years of wars and unrest that destroyed much of its capacity, Afghanistan is an example of a nation rebuilding its capacity, the physical and human, and seeking the assistance of the world community to expand that capacity and nurture it.

In presenting Afghanistan’s potential, Karzai began by pointing out its geographic location as a connecting point for different regions and a meeting point for various civilizations. “It’s our destiny to connect ideas and goods between the regions,” said Karzai. He thanked all the countries that have donated generously including Saudi Arabia and the United States to rebuild Afghanistan’s network of highways and those with its neighbors. “Now goods can be delivered within a week rather than months and in some places within hours rather than a week,” he said. However, he said that the network of roads is important, but equally important is the legal framework and civil service. He counted the achievements made in the last three years since a stable government was formed and the rule of law established. These achievements include reducing 90 percent of the paperwork involved for investing in Afghanistan, putting a favorable tax laws, offering 100 percent foreign ownership of direct investment, introducing a new currency that is going strong and trading freely, and bringing inflation under control in addition to using multi investment guarantees to reduce risk. All these changes were made to attract investors and create a favorable environment for investing.

Going to the next positive potential in Afghanistan, Karzai said Afghanistan’s greatest strength was its people. After suffering through horrific times, they are welcoming a new era of peace and prosperity, said Karzai. Investing in the Afghan people is the key and Karzai talked about the boys and girls schools that are overfilled with students. This he considered as one of their biggest achievements. Another is the recently held election, which raised the confidence of the people in the stability of the country. However, there is still a need for more investment in health and education. “There is a potential for explosive growth and development due to the large young population,” he said. He praised the bustling markets of Afghanistan, which has been increasing at the rate of 20 percent each year. He envisions a market that is driven by the private sector. “Foreign companies can benefit from the potential offered by Afghanistan and our neighbors can benefit from our new market for exports,” said Karzai.

The areas in which he finds that Afghanistan can grow and develop vary from becoming the world leader in the fruit market to exporting natural gas and mineral resources. An agreement for a trans-Afghan pipeline for natural gas was already signed and almost complete and he hopes to have one extended to the Arabian Sea. “The most sustainable solution for growth is not in aid but in self reliance and private investment,” emphasized Karzai. “There are no broken souls in Afghanistan. Come make money, leave some for us and take a great amount back home,” he beckoned investors. Asked about the role of women in the rebirth of Afghanistan, he said after years of suffering in the past women are now already taking strong steps and taking bigger roles in the government.