Slovakia is attracting new investments that could create up to 2,000 jobs. Several companies are discussing expanding operations in Slovakia, including Continental Matador which could invest in a new plant in Puchov creating around 300 jobs. Other upcoming investments include a 100 job expansion in Stropkov and a 50 job project in Krajne. The Slovak economy is also performing well, rising several spots to #33 on the Forbes best countries for business ranking. SARIO is working to attract more foreign investment, having successful meetings in Indonesia to strengthen economic ties between the two countries.

1. Newsletter
Slovak Investment and Trade Development Agency
October / 2011
American IT dream
for Slovak companies
More on page 7
1

2. INVESTMENT NEwS
ATTRACTIVE SLOVAKIA
Six investments that could create up to 2,000 new jobs in the engineering,
automotive and electronics industry are within Slovakia’s reach.
O
n condition market, while some already Puchov. Its investment could
of anonymity a well operate plants in Slovakia be one of the largest out
informed source and want to expand. of the six new projects and
stated that “details are being Based on the findings of could create jobs for about
fine-tuned in talks with the HN daily, among the three hundred Slovaks.
most of the companies”. companies that plan to
Some of these companies grow is the rubber goods
would be new at the Slovak maker Continental Matador
2

3. INVESTMENT NEwS
NEW
JOBS
N
early 100 jobs are
to be created in
Stropkov as of January.
Two investors will employ
people in the reconstructed
industrial zone, third investor
is under discussion. One
company manufactures
electric meters and plans to
employ about 60 people. The
second investor produces
plastics goods and is
supposed to create 25 jobs.
T
he company PR Krajne
is building a plant
for construction
components from recycled
textile in the municipality of
Krajne in western Slovakia.
The trial operation is to
begin in early 2012. The
EUR 7.7-million project
will create 50 new jobs.
T
he company Michatek
plans to invest app.
EUR 3.15 million in its
second production plant.
The project is expected to
increase the number of
employees from the current
130 to 200. Production in
the first plant in Michalovce
was launched in 2005.
3

4. ECONOMy NEwS
HIGHER INCOME,
HIGHER TAXES
Wealthy people may
A
flat tax may be replaced for people with monthly
by a progressive tax salary over EUR 2,750 and
see their taxes rise. system; the more a 22% tax for corporations
people earn, the higher with the annual profit over
taxes they pay. Right-wing EUR 33 million. Robert Kicina
coalition parties KDH and from the Slovak Business
SDKU-DS joined the strongest Alliance warns that this may
opposition party SMER-SD miss the target. He believes
in this initiative. Leader of that higher taxes for the
SMER-SD Robert Fico would wealthy may send a very bad
like to introduce a 25% tax signal to foreign investors.
4

5. ECONOMy NEwS
INVESTMENTS
Juraj Miskov
H
is ministry sent Banska Bystrica, Zilina, Presov
seven proposals and Kosice regions applied
(SaS), Minister of for investment for nearly EUR 27 million.
Economy wants to incentive provision to the These projects are expected
help investors. interdepartmental review. to create 1,096 new jobs at
Companies in the Nitra, the latest within five years.
5

6. ECONOMy NEwS
SLOVAKIA AUTOMOTIVE POPULARITY
RULES NEWS OF BRATISLAVA
STAGNATES
R A
enowned economic new paint shop for
magazine Forbes has car bodies of the New
L
published this year Small Family series ondon remains the most
ranking „Best country for was opened in the Bratislava favorite city among
business.“ Slovakia was plant of the carmaker managers. Prague is
ranked no. 33 worldwide, Volkswagen. The company no longer as popular as it
which means that compared invested in this facility EUR used to be, while Bratislava
to the last year we have 100 mil. South Korean car stagnates, being the 32nd
improved our position maker Kia, operating a plant best place for doing business,
about five places. Slovakia near Zilina, launched in according to a Cushman
left behind its neighbors mid October production of & wakefield survey that
the Czech Republic, new model Kia Venga. Kia’s compared dozens of cities
Poland and Hungary. major investment this year in the Europe. The Slovak
is a new EUR 100 million capital stagnates because it
plant that will manufacture still does not have enough
engines. Peugeot is planning attractive conditions
to pump EUR 120 million into in terms of rental rates
production technology by the and quality of offices.
spring 2012. New car models
and production plants will
create thousands of new jobs.
6

7. SARIO NEwS
AMERICAN IT dREAM
FOR SLOVAK COMPANIES
Slovak Investment and innovative and technology- the U.S. By having these
oriented companies aiming renowned experts in the
Trade Development to support their future jury, SARIO wants to ensure
Agency (SARIO) entry to the global market. maximum transparency
launched a project Besides this we would like in the selection process.
to enable the transfer of
called “Start up know-how, technology and
Development capital by attracting high-tech The project is financed from
the state budget. The amount
Program”. investments to Slovakia“, said
of EUR 40,000 has been
Robert Šimončič, CEO SARIO.
allocated for the program to
It aims to help Slovak be used by the end of this
companies to succeed at The focus group which may year including the opening
the international IT market. apply varies from already of the Slovak incubator in
Eight companies that will established innovative Silicon Valley, U.S. called STIC
succeed in the competition and technology-oriented – Slovak Training Innovation
will go for an internship companies but the door is Centre. The first two selected
to Silicon Valley, U.S. open also for newcomers companies are going to
and college students as join the program in Silicon
well. The candidates will Valley in January 2012, two
“The main objective of be selected by the Joint following ones next spring.
this project is to create a Committee where will be The project is scheduled
mechanism for the promotion present also representatives till the end of 2012.
and development of Slovak of Plug&Play centre from
7

8. SARIO NEwS
SLOVAKIA BUILT
RELATIONSHIP IN ASIA
SARIO continues in its mission to attract foreign
investors and to strengthen foreign trade.
That’s why Andrea Gulová, “Signing of our mutual The Slovak Republic
Deputy CEO SARIO and the cooperation agreements wants to “return to the
Head of the FDI Section is the evidence that Slovak tradition” while following
participated at the official entrepreneurs have the up on everything positive
visit of the President of potential to succeed in that manufacturing and
the Slovak Republic Ivan developing countries. trade mark “Made in
Gasparovic in Indonesia. Interesting is mainly the Czechoslovakia” once
This trip to South-East Asia export of investment products, meant in Indonesia.
was very successful, Slovakia industrial equipment and
and Indonesia signed 10 assistance in building power
cooperation agreements. plants and infrastructure”,
said Andrea Gulova.
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9. UPCOMING EVENTS
5th Slovak
5. Slovenská
Matchmaking Fair
kooperačná burza
22nd November 2011, Holiday Inn, Žilina,
22. november 2011, Holiday Inn, Žilina Slovakia
Auspices: The Ministry of Economy of the Slovak Republic
Záštita: MH SR
Partner region: Žilina Region, represented by
Partnerský región: Žilinský región v zastúpení VÚC Žilina
Self-governing Region Žilina
SARIO has the pleasure to invite you to an
Dovoľujeme si Vás pozvať na 5. Slovenskú
international matchmaking event,
kooperačnú burzu, medzinárodné which
offers a unique opportunity to meet
kooperačné podujatie, zamerané na under
one roof the representatives of companies
bilaterálne rokovania medzi podnikateľskými
from Slovakia and other countries active in
subjektmi.
your industry sector in order to find new
suppliers through bilateral negotiations and
Súčasťou programu sú sprievodné podujatia
your new business partners.
vo forme odborných panelových diskusií
a prezentácie partnerskej krajiny a
partnerského regiónu.
Focusing on presentation of:
- bilateral negotiations between local and
Cieľom podujatia je prezentovať možnosti:
- subkontraktačných ponúk
foreign business subjects
- partnerstva
subcontracting offers
- tendrov
partnership
- voľných výrobných kapacít
tenders
- joint-venture
available production capacities
- získania kooperačných partnerov
joint-venture proposals
Sektorová orientácia podujatia: strojársky,
This event is designed for the professionals
automobilový, elektrotechnický,
from engineering, automotive,
electrotechnics, chemical, wood,
chemický, drevársky priemysel, energy
and IT.
energetika a IT.
9

10. E-mail: marketing@sario.sk
web: www.sario.sk
This Newsletter is not in any way legally binding. SARIO does not bear any responsibility for damage
caused by inappropriate or incorrect interpretation of information hereby stated.
Source of the pictures: archive SARIO, stock.XCHNG, istockphoto