Belarus and Austria are studying the possibility of implementing investment projects in the amount of up to $ 500 million, said Ambassador Extraordinary and Plenipotentiary of Belarus to Austria, Permanent Representative of the country to the OSCE Elena Kupchina during the third meeting of the Belarusian-Austrian Business Council, which took place in Vienna on January 31.

The diplomat drew attention to the increase in bilateral trade with Austria in 2017, caused not only by the growth of the Belarusian and Austrian economies, the economic recovery in Central and Eastern Europe, but also active work of public institutions and business communities of the two countries.

Thus, in January-November 2017, the Belarusian-Austrian trade turnover amounted to $ 145.2 million (113.6% against the same period in 2016). Austria still retains the role of one of the largest foreign investors for Belarus. This clearly demonstrates the high level of Austrian business confidence in Belarus. Following the results of 2016, Austria took the 4th place (after Russia, Great Britain and Cyprus) among the largest investors.In January-September 2017, Austrian investments in the economy of Belarus totaled $ 177 million, of which $ 71.9 million was direct investments. As Austrian investors note, the efficiency of the funds invested in Belarusian projects is quite high. These factors contribute to the adoption of decisions on the implementation of new and new projects.

"In 2017, we felt a certain increase in the interest of Austrian companies to invest in Belarus," said Elena Kupchina. Many of the Austrian businessmen present at the Business Council Meeting have already been in Belarus and have practical experience of cooperation. The ambassador expressed the opinion that the meeting will serve as an additional incentive for those who still have to open Belarus for their business and establish cooperation.

In turn, Vice-President of the Federal Economic Chamber of Austria Richard Shenz drew attention to the fact that Austrian enterprises recognize the advantages of cooperation with Belarus and continue to invest in the Belarusian economy. Enterprises of Austria are among the largest investors in the Belarusian economy, Richard Shenz emphasized. "We are pleased with this increase in Austrian investments," the Vice President said.

Austrian business circles highly value stability in Belarus, the vice-president said. This factor is among the most important when choosing a country for investmenting. Richard Shents expressed his confidence that the meeting of the Belarusian-Austrian Business Council, including the presentation of the Belarusian economic potential, will contribute to the further activation of contacts between Belarus and Austria. 

Based on the materials of BelTA