SARIO Newsletter May 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.

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

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.

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SARIO Newsletter May 2011

  1. 1. NewsletterSlovak Investment and Trade Development Agency May / 2011 SARIO - the best investment agency in Eastern Europe More on page 8 1
  2. 2. INVESTMENT NEWS AmericAn investors Are sAtisfied A ccording to H.E. to improve. “We would be Theodore Sedgwick, happy to see many more U.S. Ambassador to U.S. firms in Slovakia. We Slovakia, U.S. companies are convinced that your in Slovakia are satisfied country has potential for with quality of the further investments,” he business environment in told the Slovak minister. Slovakia which continues 2
  3. 3. INVESTMENT NEWSnew jobsT A T his year, the number pproximately 500 he European Business of people employed in new jobs should be Center (EBC) Dell in the industrial park in open in Stara Tura Bratislava is openingVrable is expected to rise. in Nove Mesto nad Vahom new jobs as well. TheMost new employees should district. Local company Elster, company offers almostbe hired by the US-based producer of gas meters and 250 jobs in finances, clientcompany ICU Medical. water gauges plans to build support and servicing.“Within four or five years, a new assembly hall on its EBC Dell human sourcesthey plan to hire some 700 premises. Elster said in an manager Silvia Jelenikovapeople,” said Vrable Mayor investment plan, which has specified that also universityTibor Toth, adding, that 100 already been submitted graduates have a greatto 200 will be hired this year. for Environmental Impact chance to succeed, as almostICU‘s overall investment Assessment (EIA) that it 100 opened jobs are suitablein Slovakia will reach wants to expand production for them. The newly openedapproximately 14 million in the near future. The positions should increaseeuro by the end of 2011. construction of the hall will the number of the firm‘s cost approximately EUR 5 employees to over 1,800. million. The construction should start at the end of the summer of this year, and be completed at the start of next year. 3
  4. 4. INVESTMENT NEWSHONEYWELL WILL Minister Juraj Miskov and The firm presently employs Environment Minister Jozsef approximately 3,000 people.ATTRACT OTHERS Nagy. The power plant in Foxconn is Sony‘s successorT wo more investors Malzenice has installed in the Nitra-Sever Industrial are heading to the IPZ capacity of 436 MW and can Park and continues toPresov-Zaborske industrial generate up to 3 billion kWH manufacture LCD televisionspark, Economy Minister of power annually. Germany’s in Sony‘s factory.Juraj Miskov informed at HN oil and gas utility E.ONClub discussion forum. The invested in construction ofminister could not disclose the Malzenice power planttheir names, the volume of EUR 400 million, which, NEW INVESTORS Ninvestments and expected Chairman of E.ON Slovensko’s ew investors are headingnumber of potential new jobs Board of Directors Konrad towards the Juh Industrialyet. Miskov confirmed that Kreuzer says, is group’s Park (South) in Lucenec.their arrival was connected biggest investment in Slovakia The company Bionafta isto the investment of the over the past decade. Thanks planning to generate thereU.S. company Honeywell, to this investment, thirty electricity from renewablewhich plans to build a permanent jobs were created. energy sources in cooperationplant for the production of with the company Mileniumturbochargers for passenger Trading that will launchcars and trucks worth EUR trial operation in June.38.3 million in the park. INCREASE OF Bionafta will invest €4.5 PRODUCTION million and employ some BY 50% 25 people by late 2012.STEAM-GASPOWER PLANT E lectronics company Foxconn in Nitra pledged in its investment plan to EXPANSION OFT he new steam-gas power plant in Malzenice was put raise output of LCD television by 50 percent in 2011 on a THE AREAinto operation on Mondayin attendance of Economy simultaneous employment boost from 3,000 to 3,900. T he production premises of the joint-stock company Koval Systems in Belusa, Puchov district, should be extended by new warehouses and related infrastructure. A total of 114 people could find jobs here. NEW HALL T he international operator and developer of modern logistics parks in Europe Pointpark Properties (P3) launched the construction of a new production hall in Trnava for the U.S. firm Audia Plastics and its subsidiaries Washington Penn and Uniform Colour Company. The overall volume of the investment represents almost EUR 8.5 million. The hall with an area of 15,000 square meters should be completed in September of this year. 4
  5. 5. ECONOMY NEWSrAting confirmed TInternational he affirmation reflects the overall efficiency of publicrating agency recent indications that sector expenditure. The the new government, stable outlook incorporatesMoody‘s Investors in power since July of 2010, the improving prospects forService affirmed intends to adopt measures the Slovakian economy andthe government of to consolidate its fiscal that the favourable external position. These measures demand environment willSlovakia‘s A1 foreign primarily consist of reducing continue to be supportiveand local currency the wage expenditure in of output ratings; the 2011 by 10 percent, cutting waste on procurement ofoutlook on these goods and services, freezingratings remains stable. investments, and increasing 5
  6. 6. ECONOMY NEWSAmong the eliteA Convention on articles of the Convention. Nuclear Safety review No negative statement was meeting, which made in the conclusions.evaluates national reports Compared to other countriesby participating countries, operating nuclear powerconcluded that nuclear power stations, Slovakia is at theplants in Slovakia are among forefront in terms of safetythe world‘s elite in terms and operational indicators,”of safety. “The conclusions the Nuclear Regulatoryof the review meeting have Authority (UJD) announcedconfirmed accordance of after the InternationalSlovakia‘s legislation and Atomic Energy Agency sessionother activities in the field held in April in Vienna.of nuclear safety with the 6
  7. 7. ECONOMY NEWSSLOVAK ECONOMY y/y growth in household DECREASE OF THE consumers from more thanWILL ACCELERATE 9,000 to almost 25,500, UNEMPLOYMENT RATES lovakia’s economic activity according to the regulator. will accelerate in 2012 aftera slight slowdown in 2011, theInternational Monetary Fund T he registered unemployment rate in Slovakia in April dropped 0.19(IMF) forecasts in its outlooks percentage points to 12.94for European economies. percent, Director General ofThe GDP growth figures are the Central Office for Labour,based on the IMF‘s prognosis Social Affairs and Familyreleased in April, which Ivan Juras told journalistsstipulates that Slovakia’s GDP on Thursday. Juras ascribeswill grow 3.8 % this year and the modest decline to an4.2 % next year. The country increase in seasonal works,will thus beat the euro zone‘s stronger demand to registermedian projected at 1.6 % for self-employment and lowerin 2011 and 1.8 % in 2012. number of voluntarily jobless persons caused by higher health insurance premiumMOBILE rates, introduced in early 2011. Rising economic activity, too,COMMUNICATION is an important factor thatIS INCREASING reduced the jobless rate.P enetration of mobile telephony services inSlovakia reached 111.6 % as EXIMABANKA‘Sof late March 2011, whichwas a y/y increase of nearly EXPECTATIONS5 percentage points. As ofMarch 30, three mobiletelephony operators Orange S lovakia’s export activities are expected to grow in the coming period and, therefore,Slovensko, Slovak Telekom Eximbanka anticipates growth(T–Mobile) and Telefonica in its sales. To bolster theSlovakia (O2) recorded 6.026 indicator, the institutionmillion active SIM cards plans to intensify its activities(up 269,000 cards y/y). and marketing of its sales divisions or to reassess its service portfolio. Mario Schrenkel, Eximbanka directorTHE ALTERNATIVE general, told that the bankOPTIONS ARE plans to bolster support of Slovakia’s exports. TheGROWING increase should range betweenA lternative power suppliers are winning an increasingnumber of new clients every the GDP growth and exports improvement in the given year. The value of supportedyear. The Regulatory Office exports is said to increasefor Network Industries (URSO) from last year‘s EUR 3.2 billionreported that nearly 17,200 to EUR 3.38 billion in 2011households and over 4,600 and EUR 5.51 billion in 2015.other customers changedtheir supplier last year.A year ago, almost 7,700homes and 3,000 otherconsumers decided to switchsupplier, which means thatalternative suppliers posted 7
  8. 8. SARIO NEWS THE OFFICIAL PUBLICATION OF THE INDUSTRIAL ASSET MANAGEMENT COUNCIL May 2011 www.siteselection.comsArio - the best investmentAgency in eAstern europeSARIO received 1st place in the ranking “Global Best to Invest 2010”in the region of Eastern Europe by Site Selection magazine.S ite Selection magazine projects announced, capital which I would like to thank has published the invested and jobs created in them all. In the same time ranking “Global Best to 1102 yaM total and per capita. Regions moc.noitcelesetis.www it is a motivation for us toInvest” for the third time. were scored according achieve higher effectivityThis ranking is based on an to their performance in and quality in FDI attractionover 50 years long tradition these categories, and the process and last but notof the new investment EHT corresponding investment LAICIFFO NOITACILBUP FO EHT LAIRTSUDNI TESSA TNEMEGANAM least, it also the recognition LICNUOCprojects New Plant Database promotion agencies were of the effort of the Ministryof Conway Data Inc. This recognized based on overall of Economy of the SR andranking covered six regions: performance. Róbert the Slovak GovernmentEastern Europe, Western Šimončič, SARIO CEO in this to constantly improve theEurope, Asia – Pacific, Africa context said: “I consider the business environment.”and the Middle East, and first place of SARIO agencyLatin America. The “Global in this ranking to be most For more information on the rankingBest to Invest” rankings of all the recognition of “Global Best to Invest“ go to: http:// evaluated according to its employees´ work, for may/2010-global-best-to-invest.cfm 8
  9. 9. SARIO NEWSgrAnd opening celebrAtion ofthe new roof systems fActoryT he Grand Opening 65 people, planning to opening ceremony of the Celebration of the increase this number to plant in Krakovany was also Dutch company Inalfa 120. During his speech, he attended by Marcel Schabos,Roof Systems in Krakovany also expressed his thanks CEO of Inalfa Roof Systems(district Piešťany), a new for a very good cooperation Group, that was foundedplant for the manufacturing with regional and municipal in 1946 in Venray, theof automobile roof systems administration bodies and a Netherlands and in almostwas attended by H.E. Daphne friendly approach and help 65 years of its existence, itBergsma, the Ambassador of of SARIO. Róbert Šimočič, has been profiled as one ofthe Netherlands to Slovakia, the Chief Executive Officer the largest suppliers of roofRobert Šimončič, the CEO of of SARIO said: „SARIO systems for the automotivethe Slovak Investment and agency is pleased to have a industry in the world.Trade Development Agency chance to cooperate with Currently, this company(SARIO), Remo Cicutto, Inalfa Roof Systems at the operates 12 productionthe Mayor of Piešťany and process of implementing plants and 3-technologicalVladimir Mihálik, the Mayor the investment of the global development centers inof Krakovany. According to automotive supplier, since Europe, Asia and America.Jim Bonebright, the Vice the company operates in aPresident of Inalfa Roof key sector and is significantSystems Slovakia s.r.o., the for the development of thecompany currently employs entire Slovak economy.“ The 9
  10. 10. SARIO NEWSproduction expAnsion, new jobsT he representatives of company. Iveta Radičová, satisfy growing demand, SARIO took part at the the Prime Minister of the SR the company has decided opening ceremony of in her speech she appraised to expand its productionBelgian company Bekaert job creation and the fact platform in Sladkovičovoplant expansion. This that Bekaert stresses the by production line of semicompany is one of the largest safety at the workplace and products and create 100 jobs.producers of steel wire employee social programs. Currently Bekaert companyand tire cords for cars and Moreover this company employs in its 2 productiontruck tires. Iveta Radičová, may bring to our economy facilities in SlovakiaPrime Minister of the Slovak higher added value in the (Hlohovec a Sládkovičovo)Republic participated at form of new technologies, over 2,100 people.this event together with research and development.Kristián Takáč, the Deputy Bekaert company has beenMinister of Economy of the established in Slovakia forSR, Anton Szabó, the Mayor over 10 years and in theof Sladkovičovo and the top region it has developed widemanagement of Bekaert customer base. In order to 10
  11. 11. SARIO NEWSsArio presentAtion forindiAn delegAtionA ndrea Gulová, the SR and Juraj Miškov, During the discussion the Deputy CEO of SARIO the Minister of Economy Indian guests were interested presented Slovakia of the SR in India. Andrea in the conditions of enteringas the ideal business and Gulová in her presentation Slovak military industry, airinvestment destination to the introduced current indicators and water transportationrepresentatives of National of Slovak economy – the best as well as our experienceDefense College (NDC) from conditions in the CEE region with transition to EuroIndia during their official from the point of view of and Slovak bank system.visit to the Ministry of the investment environmentDefense of the SR. NDC was quality confirmed by severalrepresented by high ranking renowned institutions,military representatives of forecasted one of thethe Indian army who visited highest growths in the EU,Slovakia following the recent transparent tax system,visit of Ľubormír Galko, membership in Euro zonethe Minister of Defense of and high labor productivity. 11
  12. 12. 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 12