SARIO Newsletter- August 2011


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The Slovak Investment and Trade Development Agency (SARIO) is a government-funded allowance organization that works under the supervision of the Ministry of Economy of the Slovak Republic. SARIO’s primary objective is to improve the standard of living of Slovak citizens by increasing employment and reducing regional disparities.

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SARIO Newsletter- August 2011

  1. 1. NewsletterSlovak Investment and Trade Development Agency July / 2011 Thumbs up for Slovakia More on page 2 1
  2. 2. SArIo NewSThumbs up for slovakiaS Slovak Investment and “We are successful documented by an increased Trade Development in reaching our goal number of trips for potential Agency (SArIo) has had that foreign investors foreign investors to Slovakiaa successful first half of 2011. have begun to perceive organized by projectCompared with the first half SARIO as a modern and managers of the agency.of 2010, SArIo managed transparent agencyto attract more foreign which becomes for them ainvestments to Slovakia gateway for investing in „I believe that by the endaccording to all indicators: Slovakia,” robert Šimončič, of this year SARIO willthe number of projects, Ceo of SArIo said. successfully conclude avolume of the investments number of other projectsand the creation of new jobs. that are currently in Traditionally, most the process of decision- investments went into making. I assume thatDuring the first half of 2011 the automotive industry, this year will be, in termsSArIo executed projects especially there are of attracting foreignwith a total volume of 259.5 suppliers of metal and investments, evaluatedmillion euros which will plastic components, more positively than theprobably create over 1,500 electrical engineering as last one,“ said robertnew jobs in Slovakia. over well as shared services. Šimončič, Ceo of SArIo.the same period last yearSArIo completed 8 projectswith a total value of 35.22 SArIo has this yearmillion euros and which registered significantlyresulted in the creation of higher levels of interest fromapproximately 500 new jobs. international companies and investors, which is also 2
  3. 3. INveSTmeNT NewSaTos in slovakiaOne of Europe’s IT F ollowing the takeover of company Siemens IT Solutions Siemens IT Solutions and and Services in Slovakia,leaders, the French Services, Atos will occupy who will keep his post afterAtos, has arrived all its plants in seven Slovak its transformation to Slovakia. towns with a total of 480 According to his words there employees. “Implementation should not be any major of new processes will affect layoffs. “At the moment we some employees mainly are investing into training working in support and of our employees and their administration.” said Peter preparation for company´s Prónay, Ceo of dissolving new operation,” he added. 3
  4. 4. INveSTmeNT NewSChINA TowN New JoBS with eur 488,800. After the reconstruction, the town willw ithin a year a full-fledged european Chinese Centrewill be established between A utomotive suppliers and food and cosmetic producers will open hundreds rent the objects to two Slovak engineering companies. gBratislava and Senec. The of jobs in Slovakia. “Today e-metal is planningcomplex will be the home we have 650 staffers. This to open 50-60 jobs inof Chinese Cultural Centre, number will grow by 150 Stos this and next year.the exhibition-presentation more,” technical manager at The employment increasearea, as well as administrative ZF Boge elastmetall Slovakia has been triggered byand representative centers miroslav Danis announced. 1-million-euro investments.of hundreds of companies Serio Plast, too, is going to Tfrom the Far east. hire some tens of people. he Austrian company Also, Tubex in Zarnovica gallai & wolff is planning is expanding and will take to build a factory for eur in dozens of employees.BurgmAIer IS 10 million in the district of rimavska Sobota and createexPANDINg K oPS Detva has begun construction of its 253 new jobs. The companye ngineering company assumes that production of new plant in the village of bridge bearings and dilatation Burgmaier Precision Krivan. The investor plans joints will start in the firstSlovakia is planning to build to finish the factory for quarter of next year. Thea new factory in Banska engineering components components produced inBystrica. The firm intends and parts in late 2011. It will the gallai & wolff‘s plant willto invest eur 3.4 million employ seventy people. be used for construction ofin the new facility, which isexpected to provide 148 jobs. road bridges. “ProductionAccording to the investmentplan that has been submitted S ome 110 jobs are to be opened in a new brownfield industrial park in program will depend on road infrastructure constructionfor environmental Impact and reconstruction and Levice. It will be built on the servicing of road bridges.Assessment, construction work site of a former vegetableshould begin in the upcoming With regard to limited and fruit warehouse. The opportunities of the Slovakmonths, while completion construction is planned tois scheduled ten months market, about 96 percent of take 18 months. The town products will be exported,“later. The plant is expected acquired a eur 9.287 millionto cover an area exceeding stated the investor in the subsidy from the eu, which assessed investment plan.5,000 square meters, and should cover 95 percent ofthe production and storage the overall project costs. Thehall itself should be larger municipality should co-financethan 4,500 square meters. the remaining 5 percent 4
  5. 5. INveSTmeNT NewSnew assisTanceLocal and foreign w hat is more, the ministry, which authored the tax holiday period amendment, contributionscompanies will be prolonged for acquisition of tangiblewill be getting from five to ten years. At and intangible assets andstate assistance the same time, the duty creation of new jobs will not to deduct tax loss during be provided to industrialparticularly in the the period of tax allowance manufacturing investors inform of tax credit. has been preserved. The districts with jobless rate modified rules took effect below Slovak median. on August 1, 2011. The state will provide subsidies for acquisition of tangible and intangible assets only in extraordinary cases, for instance, strategic projects. According to the economy 5
  6. 6. eCoNomIC NewSbusinesses in DaTabaseT he state starts making companies and associations basis of this information. its databases on Slovak and societies. “We’d like to “It will be some kind of Slovak businesses public. help businesses to not enter super-register, providing allThe economy ministry has business relations with [other] available information at onelaunched the economic unreliable businesses,” said place and at the same timeregister of Slovak companies minister of economy Juraj providing more – and thatat the website miskov. According to him, the is analytic information,” register should contain all miskov described theThis database of businesses accessible information that system. In the future, otheractive in Slovakia features state possesses on businesses, modules are to be added.offering economic and loans including turnover, addresses,information on companies, number of employees, liensentrepreneurs, exporters and payment disciplineand importers and also concerning state institutions.about budget-subsidized or rating of individual entitiespartly budget-subsidized will then be calculated on the 6
  7. 7. eCoNomIC NewS CoSTLy LoANS CheAPer LIFe S lovaks will pay more for loans. The european Central Bank decided to hike the T he life in the Slovak capital has become cheaper for foreigners, a survey by mercer benchmark interest rate by shows. In a year, Bratislava a quarter of the percentage dropped 20 positions in the point to 1.5 %. european banks chart, from the 37th spot to can expect one more rate hike the 57th. mercer compared this year. Increased interest living costs borne by foreign rates will automatically workers in 214 cities. The reflect in prices of banking drop means that Bratislava products in Slovakia. offers more acceptable prices to foreigners this year. New DIvIDeNDS e conomy minister Juraj miskov (SaS) wants new rules for profit distribution and dividend payout at companies were the state holds some stake. “I assume that we will manage to collect over €100 million in dividends for the state coffers. The Finance Minister did not count on this money,” miskov announced. 7
  8. 8. SArIo NewSchina inTeresTeD in slovakiaOn July 4th 2011 T his trade mission Technology Commission included several was very grateful for allSARIO in cooperation directors of companies the information providedwith the Chamber of from the Chinese Province by SArIo and the ChamberCommerce SINACO of Shandong interested in of Commerce SINACo. he future cooperation with invited the representativeswelcomed the Chinese Slovakia especially in the of SArIo and the Chambertrade mission during area of petrochemical and of Commerce SINACo totheir five days visit pharmaceutical industry. the Shandong Province. Lenka Demovičová, Chinese trade missionto Slovakia. SArIo Project manager expressed interest in the introduced SArIo agency, close future cooperation its services and also as the goal of this initial the Slovak investment meeting was to establish environment. mr. Li contact with institutions in Jiansheng, Deputy Director Slovakia operating in the of Foreign Cooperation field of foreign trade and Division of Shandong foreign direct investment. province and Information 8
  9. 9. e-mail: marketing@sario.skweb: www.sario.skThis Newsletter is not in any way legally binding. SArIo does not bear any responsibility for damagecaused by inappropriate or incorrect interpretation of information hereby stated.Source of the pictures: archive SArIo, stock.xChNg, istockphoto 9