Austria invested $2.8B in Kazakhstan - Vice Minister

ASTANA. KAZINFORM - Vice Minister for Investment and Development Yerlan Khairov claims Austria has invested $2.8 billion in Kazakhstan over the past 10 years.

Kazakhstan and Austria have some 150 joint ventures. Nearly $2.8 billion has been invested from Austria to Kazakhstan over the past 10 years," Vice Minister Khairov said speaking at the Kazakh-Austrian Business Forum in Astana on Wednesday.

He stressed that figure must grow in the future and shared details on what Kazakhstan can offer Austrian businessmen.

"Let's say, a potential investor channels over $13 million into priority sectors, including chemistry, petroleum chemistry, metallurgy, construction materials production, engineering and food production, he or she will be exempt from three types of taxes for the next 8 to 10 years," Mr Khairov noted.

The forum brought together over 200 participants, including 100 representatives of Austria.