Belarus and Austria are developing joint business projects worth more than $700 million, First Deputy Chief of the Council of Ministers Office, the head of the Secretariat of Prime Minister Alexander Zaborovsky told a press conference in the follow up to the Austrian-Russian-Belarusian Business Forum held in Vienna, BelTA reports. "In Belarus there are more than 100 companies with the Austrian investments. The Belarusian-Austrian projects worth more than $700 million are currently in the pipeline,” said Alexander Zaborovsky. According to him, the Austrian investors have offered to invest in the development of the construction industry, and the building materials production using the innovative technology. "Maybe the production will be set up from scratch. It is also possible that Austria will invest in one of the existing construction enterprises in Belarus,” said Alexander Zaborovsky. Another area involves advanced timber processing. Alexander Zaborovsky noted that Austrian companies are already running investment projects in the timber industry of Belarus.