The ninth meeting of the PriSEC Legal Working Group was held on Monday, May 24, 2021, in Sedarat Palace – the Second Vice President of I.R.A. At first, Mr. Yahya Waqar, Financial Advisor to the Second Vice President, was introduced as the Co-chair of the Fifth PriSEC Working Group, replacing Mr. Tavassoli Gharjestani. Then, according to the agenda, the Co-chairs welcomed the members and asked the participants to share their views on the draft private investment law.
Issues such as investment principles, the high board of investment protection, the law enforcement authority, the type of investment, and specific areas of tax credit were discussed.
– The representative of the Afghanistan Chambers Federation said that “the position of the private sector in the draft of private investment law has been ignored and new incentives for the private sector do not appear in this draft.”
– The representative of the Chamber of Agriculture and Livestock Products stated that the private sector should have the right to vote on the investment board.
– Representatives of the Women’s Chamber of Commerce and Industry, the Chamber of Craftsmen and Shopkeepers and the Chamber of Industries and Mines also stressed the importance of the private sector in the Private Investment Law and to add new incentives in this law.
The representative of the Investment Facilitation Unit asked the private sector to send their opinions in written form via email or a Maktoob to IFU to include them in the draft law. She also requested more cooperation from the private sector in the field with IFU.
As a result, it was decided that IFU prepare a sheet that includes private investment law original format, new text, and the reasons for changes listed in three columns, and share the sheet with PriSEC who then will share it with the private sector and other members of this working group. Then, the private sector can present their specific views on the draft.
Attendees of this meeting were esteemed representatives of the First Vice President of I.R.A, the Second Vice President of I.R.A, Ministry of Justice, Ministry of Industry and Commerce, Afghanistan Chambers Federation, Chamber of Craftsmen and Shopkeepers, Investment Facilitation Unit, Chamber of Industries and Mines, Chamber of Commerce and Investment, Chamber of Commerce and Industry, Chamber of Agriculture and Livestock Products, and PriSEC Committee – First Vice President of I.R.A.