Excellencies, Distinguished Guests, My brothers and sisters, Asalaam-u-alaikum

It gives me great pleasure to be back in Saudi Arabia, so soon after my visit last September. I thank the Kingdom of Saudi Arabia for the kind hospitality, and the organizers of this conference for bringing us together to discuss a topic of considerable significance to this region, and indeed, the entire Muslim Ummah.

It is most appropriate that this conference is being held in Saudi Arabia, the land where both our Holy Prophet (Peace Be Upon Him) and our Holy Faith were born. Although in recent years, various groups have attempted to distort our Islamic beliefs for criminal and political ends, we who are gathered here today remember that the first word revealed to the Prophet (PBUH) was “Iqra” – read – emphasizing the importance that our religion would place on gaining and sharing of knowledge. This conference therefore is not simply an opportunity to discuss economic and social issues, but is in fact a manifestation of our shared religion, and a continuation of a remarkable tradition of consultation and dialogue established by our Holy Prophet.

There is regrettably a misperception – which Muslims across the globe are all too familiar with – that Islam and modernization are incompatible. Yet if we look at our history – indeed, if we return to the “fundamentals” of our faith – we recollect that our Holy Prophet was a merchant, and a most successful one. There was no question at the time about a conflict between material and spiritual progress, and there should be no question about it today. Islam does not measure a man’s spiritual value inversely to his wealth, but rather, evaluates how that wealth is used to benefit the society as a whole. This conference – and the emphasis on not only economic issues, but on social issues as well – is therefore a fitting tribute to the fundamentals of our faith.

“Rebirth of a nation: motivating the broken soul”, is the title given to this session today. Speaking about Afghanistan, it can indeed be seen as a nation reborn. However, I must say I do not agree with the ‘motivating the broken soul’ part of the title. It is true that nearly three decades of war have left our physical infrastructure broken, but the spirit of the Afghan people has never been broken, and it is this same spirit which, each day, lifts our country to greater heights.

Ladies and Gentlemen,

Over several millennia, Afghanistan’s contribution has enriched the history of Asia, and to a degree, the history of the world. From the conquests of Alexander the Great to the Cold War, and to the present day, Afghanistan has often been the centre-stage when great historic changes have come to pass. The ancient Silk Route was perhaps the original Information Highway, which carried knowledge as well as goods from China to the heart of Europe, passing through Afghanistan. And today, Afghanistan is ready once more to play its historic role in bridging countries and civilizations. We connect the big land-masses of Central Asia, South Asia and the Middle East. Like many other great countries of this region, Afghanistan has been a melting pot of civilizations. It is our history, and our destiny, to bring people, goods and ideas together.

Three weeks ago, together with my good friend President Khattami, I inaugurated a new road which connects Afghanistan and Iran, increasing access to markets of the region. This is only the latest in a series of infrastructure projects designed to facilitate trade and enterprise across Afghanistan and the region. Over the last three years – and with support from the United States, Japan, Europe, our neighbours Pakistan, Iran and others including Saudi Arabia and India – we have begun to build a network of highways across Afghanistan. Four years ago, merchants from Central Asia wishing to sell products in the Middle East would have to wait months to transport these goods around Afghanistan – today, these same goods can be delivered within a week. Soon, all Central Asian capitals will be less than 32 hours from the Gulf, thanks to our network of roads.

Of equal importance as the physical infrastructure of a country is the legal and administrative environment in which business must take place. Over the last three years, I have placed tremendous emphasis on the reform of the legal framework as well as the civil service to facilitate investment and trade more readily. To cite but a few examples: we have reduced customs paperwork by 90 percent; enacted favourable tax laws; introduced new investment legislation which allows for 100 percent foreign direct investment; introduced a new currency and brought inflation under control, and created a specialized agency dedicated to helping facilitate foreign and local investment.

In addition, we are using the Multi-Investment Guarantee Agency (MIGA) to reduce the perceived political risks of doing business in Afghanistan. In short, be it the regulatory environment or the physical environment, Afghanistan has transformed in a period of three years from a country which shunned international engagement to one which seeks to enable it, for the benefit of all.

Fundamentally, however, the greatest asset of Afghanistan is not its location, its roads, its regulatory environment, or its wealth of natural resources. Afghanistan’s greatest strength is the Afghan people, and it is this strength which I believe has particular resonance with the theme of the Forum.

The people of Afghanistan have survived some of the most horrific and appalling circumstances the modern world has witnessed. But, while we remember the past, we do not remain frozen in it. The spirit which kept Afghans alive against all odds in the past is today propelling Afghanistan forward to a new era of peace and prosperity. Today, our schools are overflowing with children eager to learn; our residential areas are alive and simmering with activity; and our shopping districts are once again bustling with business. As a result, over the last three years, our economy grew by an average of about 20% per year.

In October, the participation of millions of Afghans from across the country in the presidential election not only showed the confidence of the Afghan people in the political process, but also gave a boost to the stability which is so crucial for economic progress.

As we all know, a healthy, well-educated population is the engine of economic growth. Therefore, we in the Government are aware that we need to continue to invest heavily in health and education. Thirty years ago, we had credible educational institutions throughout the country. We will not wait another thirty years before they are rebuilt.

One-fifth of the Government’s annual expenditure was directed toward education last year, a pattern we intend to continue into the future. Our population is young, dynamic and eager to learn and prosper. Afghanistan does not simply have potential therefore, but rather, an explosive potential for growth and development.

Many national and international corporations have been quick to recognize this opportunity in Afghanistan. Multi-million dollar investments in the telecommunications industry by Siemens and others have been matched by similar commitments in the hospitality industry, by Hyatt and Serena Hotels, and are further reinforced by a revitalized privately-driven financial sector, led by Standard Charterd, Habib Bank, the First Microfinance Bank and several Afghan-owned commercial banks. These companies and others, such as DHL, FedEx, and Coca-Cola are already benefiting from early investments in Afghanistan. Our neighbours are benefiting from the emergence of a demanding market next to them. Pakistan, whose annual exports to Afghanistan were less than 50 million dollars three years ago, today exports close to a billion dollars of goods per year. The labour market in Afghanistan has attracted thousands of people from our neighbouring countries. Wages for both skilled and unskilled labour have more than quadrupled over the last three years.

At the beginning of the 1980’s, Afghanistan was one of the region’s largest fruit exporters. Today, we have started to regain our competitive advantage in this area, and our vision is to become a world leader in the fruit industry. Similarly, Afghanistan’s natural gas, copper, iron, marble, and precious stone industries, among others, remain severely under-utilized. In the natural gas sector, we are working with Turkmenistan, Pakistan and India on the construction of the trans-Afghanistan pipeline, which I believe will be of immense economic benefit to the region.

Ladies and Gentlemen,

The message which I wish to share with you today is that Afghanistan is an open opportunity, and I would invite all of you to consider how you might make this opportunity work for you. Like the industries of Afghanistan, the people of Afghanistan will welcome you warmly. The rich diversity of Afghanistan’s people – their languages and cultures vibrantly testify to our cosmopolitan spirit. The labour market in Afghanistan is vast and full of promise and potential. Those who come to Afghanistan will find themselves with warm, welcoming and willing partners.

So far, we have secured international commitments of $11 billion for reconstruction, and hope to increase that amount substantially over the coming decade. We are grateful for the international aid we have received, and believe that we will continue to require assistance for some time. However, we also recognize that the most sustainable solution lies not in aid, but in self-reliance and private-sector driven investment.

This is an opportunity – for Afghanistan and for you.

There is a saying that, “those who do not know their history are doomed to repeat it.” In the case of Afghanistan, however, we know our history as a country which once facilitated the ready exchange of goods and served to bridge cultures and people. And, we are determined to repeat that history. We are committed to increasing cross-border and regional trade, and to working tirelessly to regain our position as an integral part of the Central and South Asian economies.

In closing, ladies and gentlemen, let me thank the organizers of this forum once again for inviting me here to share my thoughts with you. Let me also share with you my hope that one day soon, you will test our hospitality in Afghanistan, when you come to visit and to assess the opportunities in our country yourselves.

And when you visit Afghanistan, I have no doubt that you will see the truth of my words – that there are no broken souls in my country, but only souls inspired by opportunity and guided by possibility.

So I invite you to come and invest in Afghanistan. Make money, as others have made. Leave some of that money for us, and take the rest home.

Thank you, and may Allah bless us all.