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Belarus, Austria mull over $500m investment projects

Economy 31.01.2018 | 16:55
Alena Kupchyna
Alena Kupchyna

VIENNA, 31 January (BelTA) - Belarus and Austria are discussing the possibility of carrying out investment projects worth up to $500 million, Ambassador Extraordinary and Plenipotentiary of Belarus to Austria, Belarus' Permanent Representative to the OSCE Alena Kupchyna noted at the third session of the Belarus-Austria Business Council, BelTA has learned.

The diplomat pointed to an increase in bilateral trade with Austria in 2017 due to the economic growth in Belarus and Austria, economic recovery in Central and Eastern Europe, and active work of both countries' government bodies and business communities. Belarus-Austria trade reached $145.2 million in January-November 2017, up 13.6% year on year.

According to Alena Kupchyna, Austria remains one of the major foreign investors for Belarus, which shows the high level of trust between the Austrian business and Belarus. In 2016, Austria was fourth largest investor in Belarus (trailing only Russia, the UK, and Cyprus). The country invested $177 million in Belarus' economy in January-September 2017.

Austrian investors point to the high effectiveness of investments in Belarusian projects. These factors encourage them to launch more and more projects in Belarus. “We felt that the interest of Austrian investors in Belarus grew to some extent in 2017,” Alena Kupchyna said. Many of the Austrian businessmen present at the meeting have been to Belarus and have got some practical experience in cooperation. The ambassador expressed hope that the meeting will give an additional impetus to those who are yet to discover Belarus for their business and establish cooperation.

The Belarusian delegation at the meeting is led by Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich. Deputy Minister of Foreign Affairs Oleg Kravchenko is among the participants, too.

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