SARIO Newsletter- June 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 …

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.

Mission
The mission of SARIO is to promote growth and economic development, and improve the quality of life in Slovakia.

Vision

SARIO works actively to make the Slovak Republic a country with a well developed economy and an educated population with a high quality of life. In order to achieve these goals, SARIO utilises valuable contacts both in Slovakia and abroad.

Strategic Objectives
-Applying an effective framework for the support of foreign investors and increasing the portion of investors with high value-added production.
-Supporting such export activities of Slovak enterprises that would significantly increase the turnover of Slovak foreign trade.
-Qualified and effective administration of EU Structural Funds, which provide support for activities within the framework of Foreign Direct Investment and Foreign Trade (infrastructure development, intensification of international cooperation, and image-building of the Slovak Republic).

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  • 1. NewsletterSlovak Investment and Trade Development Agency June / 2011 new registered projects for Slovakia ! More on page 8 1
  • 2. INVESTMENT NEWSAUO Opening in SlOvAkiAT aiwanese company AU company, which will produce through AU Optronics and Optronics has launched LCD TV sets, should offer around 2,000 indirectly. its first production jobs to 3,300 people. By theoperation in Slovakia. Trencin end of 2013, some 1,300 jobsbranch of the Taiwanese should be created directly 2
  • 3. INVESTMENT NEWSAmAzOn in SlOvAkiA TThe largest e-store he facility in the Slovak the investment is comingamazon.com with capital will employ to a region that we do not 200 people. On its support, namely Bratislava,the help of SARIO will arrival in Slovakia, the U.S. the company won’t beopen its sales support company Amazon.com “had entitled to any form ofcenter in Bratislava by initially planned to open assistance. Therefore, we 100 jobs but, according to are very happy that suchthe end of next year. the latest information, their investor has arrived here number is to exceed 200,” even without any support,” Economy Minister Juraj the minister remarked. Miskov reported. “Since 3
  • 4. INVESTMENT NEWSnew plAnt Of DeltA electrOnicS TSARIO is happy he company confirmed new product mix and have ato announce the its plan to hire 500 higher automation level, the people. The new plant number of new employeesexpansion of Delta is to be as large as the will reach 450-500 afterElectronics in Slovakia. existing one but since the the full operation starts. new factory will focus on a 4
  • 5. INVESTMENT NEWSNEW MODEL OF KIA production firms in the EKOPLASTIKA IS Zvolen Retail Park from 2014. EXPANDINGT he Zilina-based Kia car maker will start production The park was built by the T company CC Development he company Ekoplastikaof a new model in 2012, on 38-hectare premises in based in Slovenska Novawhich could be one of the the northwestern part of Ves near Trnava is planningbest investment projects in the town. CC Development to build a new plant in theSlovakia ever. The new project started constructing civil Roznava industrial park.is expected to open 1,000 engineering networks for The factory will producejobs at the car factory and the Retail Park in summer heating oil from used plastic4,000 among its suppliers. 2009; overall investment to packaging and supply it buy land and constructing particularly to refiners. The infrastructure were EUR 25 3-million-euro investmentIT KOŠICE million. Before the year ends, will open forty jobs. some 500 people may findP roducer of security software Eset is opening jobs in the park; this number could reach 1,000 by 2014.a new branch in eastern GOOGLE INSlovakia where it plansto employ forty people. BRATISLAVA CAR BODY FACTORY GKosice-based branch will oogle Inc. is coming tospecialize in programming of Slovakia to open a newantispam solutions. Another FOR 85 MIL. € business representationIT company Ness Slovenskois preparing the recruitmentof at least 60 employees. T he company Volkswagen (VW) Slovakia is finalizing the preparatory works for the in Bratislava. The aim of Google Slovakia is to support the development ofT-Systems is also looking construction of a new car body electronic trading throughfor new staff and according factory in its Bratislava plant. education and support into personnel agencies The new investment will cost the area of e-marketing,other significant foreign EUR 85 million and create 100 with emphasis on exporters,companies are considering new jobs. The construction entrepreneurs, and small andentering the local market. of the factory is to start the medium-sized businesses. second half of this year. It will cover an area of 19,242 square meters. The start ofRETAIL PARK the production is plannedIN ZVOLEN for the third quarter of 2013. The volume of production isS ome 1,500 people could find work in retail and to reach 580 containers of pressed body parts per day. 5
  • 6. ECONOMIC NEWSStAble rAting A+Fitch Ratings has F itch has simultaneously target of 5.5 percent of affirmed Slovakia‘s short- GDP. The overrun reflectedaffirmed Slovakia‘s term foreign currency a shortfall in tax revenues,long-term foreign and IDR at ‚F1‘ and country ceiling fiscal stimulus measureslocal currency Issuer at ‚AAA‘. The Outlooks for and expenditure caused Slovakia‘s long-term IDRs by the impact of summerDefault Ratings at are stable. Slovakia‘s general floods and increasing state‚A+‘, respectively. government deficit outrun liabilities against railway of 7.9 percent of GDP for companies and hospitals. 2010 represented significant slippage compared with the original budget deficit 6
  • 7. ECONOMIC NEWSCORRUPTION in the pan-European research stores at volumes typical for believe that offering personal its neighbours. A nationwideSURVEY IN EUROPE gifts, coverage of above- representative surveyM ore than 80 percent of standard costs of promotion conducted by the GfK agency managers and executive or bribes in cash are excusable in mid-April of this year in 360staff members perceive if they help win a contract. stores showed that the sharecorruption as widespread of local food products on thein Slovakia compared to the Slovak market is less than 50 percent. The survey wasEU median of 62 percent, LACK OF LOCAL ordered by the Slovak Foodshows a survey by Ernst &Young. More than two- thirds FOOD PRODUCTS Chamber. In Poland, the share Lof managers and executive ocal food products are not of food from local productionofficials in Slovakia addressed represented in Slovakia’s is over 85 percent according to the latest data of the EU Statistical Office Eurostat. In the Czech Republic, the share is less than 72 percent and over 71 percent in Hungary. BETTER BUSINESS ENVIRONMENT WILL REPLACE INVESTMENT INCENTIVES A ccording to the Ministry of Economy investment incentives should be gradually replaced by better business environment. The minister specified that it is possible to replace the investment assistance for example by quality business environment. “A radical improvement of the business environment can represent a benefit for Slovakia, able to easily replace any investment stimuli,” thinks Miskov whose department is currently working on the Singapore project. After implementing 100 measures the project is to contribute to reducing the red-tape load of businesses in Slovakia. In the next year according to the plans of Miskov only tax relief will be granted and by the end of the term will lead to total abolition of investment incentives. 7
  • 8. SARIO NEWSnew regiStereD prOjectSfOr SlOvAkiAThe Slovak Investment and Trade Development Agency(SARIO) currently registers 102 investment projects.T hese projects could plastic components, metal last year that are to create bring investments structures, production of about 2,000 new jobs, as its worth EUR 3.5 billion electrical appliances, food annual report shows. At theand create nearly 24,000 production, a center of end of last year, the agencyjobs. Investors from various shared services, and others. registered 69 investmentareas have expressed SARIO tries to locate projects in the “phase ofinterest in Slovakia. investment projects in active decision-making”,Potential investments particular in eastern with the planned investmentinvolve supplies for the Slovakia, which has the volume of up to EUR 2.9automotive industry as highest unemployment rate. billion and a potential towell as the electrotechnical SARIO Agency completed create over 19,000 jobs.industry, production of twenty investment projects 8
  • 9. SARIO NEWSwe wAnt tO helpSlOvAkiA tO grOwOn June, 24 2011 SARIO will be perceived as a driver As one of the most effectiveorganized at its premises in of growth and innovation and tools we see proactive searchBratislava a press conference. as a gateway for investment of foreign investment include into Slovakia for foreign establishment of SARIO investors and local partners. representative offices inThe conference was attended key regions of the world.by Minister of economy of theSlovak Republic Juraj Miskov, SARIO wants to contributeSARIO CEO Robert Simoncic, to the development of the Investment SupportDeputy CEO and Director of Slovak economy by attracting Association (ISA) has beenthe Foreign Direct Investment new investments and trade established in order toSection Andrea Gulova and promotion, both resulting in support SARIO in fullfilmentISA Executive Committee the number of new jobs and of its strategy. It represents amember Michal Kviecinsky. increased living standards. group of reputable companies Priority will be given to providing a wide range of investments into R&D. services for investors.SARIO launched a newstrategy with a main goal tobuild a modern agency, which (More information on page 10) 9
  • 10. SARIO NEWS What is Investment Wide range of Support ISA services Association ISA? • Legal services; ISA is an association of corporate entities and companies doing • Real Estate Consultancy; • Environmental consultancy; business in Slovakia. • Financial consultancy audit and tax services; • Management ISA represents companiesplAtfOrm of all sectors operating in advisory services; • Quality management; Slovakia, offering a wide range of professional servicesfOr inveStOr for investors enabling smooth • Personnel consultancy and recruitment, executive search; implementation of their • Architecture and design;SUppOrt investment objectives. • Project and Construction The Association serves as the Management; “think- tank“ or “support base“ to satisfy needs • Construction – Engineering, of SARIO, its marketing • IT and Telecom Services; and project activities in • other Professional services Slovakia and abroad. In cooperation with ISA partners, the association Investment Support provides financial and Association was established organizational support on General meeting ISA on for SARIO, with the the 5th May 2011, where support of its investment the founding members have promotion activities to boost signed a memorandum economic development in approved by the ISA Code of all regions of Slovakia. Ethics, as well as intended person authorized to act on behalf of the ISA. ISA objective On establishing a general I SA assists the SARIO Agency and provides professional services based meeting were also approved and appointed members to the bodies of the Association upon effective cooperation and the Board of Directors, of all ISA members. Actively Supervisory Board and support the improvement Executive Committee. of the Slovak business environment and FDI inflow. Create a forum for networking opportunities among investors and Slovak political and business elites. 10
  • 11. 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 11