Afghanistan's economic future depends on private sector: U.S.

AVA- For too long, our common efforts have focused on building the state with donor resources, rather than putting private capital to work,” said Hugo Llorens, the acting U.S. ambassador to Afghanistan. “But the reality is that Afghanistan’s economic future depends on the private sector, it depends on business.”

Llorens in a statement Monday continued that no government can create prosperity, but “governments can facilitate increased trade and investment, which is indispensable to creating good jobs for tens of thousands of Afghans.”

Describing Afghanistan as a “wealthy nation”, the top U.S. diplomat noted that the country is richly endowed with mineral resources of every kind. Afghanistan, he said, has great wealth in energy resources including oil, gas coal, hydroelectric, sun and wind.

“Afghanistan was a trade leader for centuries, and I believe Afghans can reclaim that role once again,” he said.

According to Llorens, Afghanistan’s economy is growing, “but still too slowly to create sufficient jobs.”

Llorens reiterated his country’s commitment to work with the Afghan government to move the economy forward, including supporting Afghan small and large businesses, access to markets, and job creation.

“Based on sound economic policy and growth in the agricultural and extractive sectors, Afghans can revitalize their historical Silk Road link between Asia and the West,” he said. “I firmly believe the only way to generate long-term sustainable growth in Afghanistan is through less bureaucracy, less corruption and more private sector investment.”