SARIO Newsletter November 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 November 2011

  1. 1. NewsletterSlovak Investment and Trade Development Agency November / 2011 Slovak companies on the way to USA More on page 8 1
  2. 2. INVESTMENT NEWSNEWINVESTMENTIN SLOVAKIAThe Slovak Government agreed to provide state assistance invarious forms totalling almost EUR 45.8 million to nine investors.The supported companies are expected to invest more thanEUR 221 million and open over 1,500 new jobs in Slovakia.C A ontinental Matador spel Slovakia wants plant in Namestovo for Rubber intends to to expand its plastics more than EUR 19 million modernize and expand pressing plant in and employ 251 people.production of radial tires Kezmarok for EUR 3.4 Lfor passenger cars at its million and open 59 jobs.plant in Puchov. The project imited Liability Company Behr Slovakia will build Afor EUR 153.34 millionis to create 324 jobs. nother plastics pressing a new installation for manufacturer seated more than EUR 14 million in in Kezmarok, Plastiflex Namestovo and open 254 jobs.S ecop plans to spend EUR Slovakia, plans to grow, as well. S 21.2 million on a new It will expand its production production platform capacities by erecting a new ungwoo Hitech Slovakiafor components, compressor plant for more than EUR 3.3 wants to expand itscases, and assembling of million. The investment stimuli plant in Zilina, producingcompressors in Zlate Moravce. approved reach EUR 1.6 million. auto bodies. The overallThe launch of new technologies investment is estimated at over EUR 13.8 million and Cshould create 222 jobs. ompany Johnson should create 110 jobs. Controls International wants to expand its 2
  3. 3. INVESTMENT NEWSAUTOMAKERS RULET I F he Bratislava-based plant ncreasing output of the irst Peugeot 208 cars have Volkswagen Slovakia has automaker KIA Motors rolled off production launched production Slovakia and opening a new lines of the PSA Peugeotof another model in the New Mobis plant in Slovakia will Citroen Slovakia carmakerSmall Family series, SEAT create at least a thousand in Trnava. After Peugeot 207Mii. The Bratislava-based new jobs next year. and Citroen C3 Picasso, thisplant of the automaker is already the third modelVolkswagen is thus the only manufactured in the plant inplant worldwide producing Slovakia. Its production willfive car brands under one roof. create 800 new jobs fromTogether with production of the middle of next year.all three car brands of theNew Small Family series –Volkswagen, Skoda and Seat,it also manufactures SUVs forVolkswagen, Audi and Porsche. 3
  4. 4. INVESTMENT NEWSACTION PLANAPPROVEDThe governmental strategy Minerva 2.0proposes 26 concrete measures to improvethe educational system, research anddevelopment and innovative business.M inerva’s goal is as early as next year, with the to transform setup of a new grant scheme Slovakia’s economy for young Slovak scientist andinto one based on ideas and an excellence award for topinnovation. The strategy global research teams. A new of European funds, and createwill be implemented technology transfer system a new grant system for appliedprimarily by the Ministries will be implemented to ensure research and development.of Education, Economy, that ideas from laboratories You can find out more at:Interior, Foreign Affairs, the can be quickly transferred to www.vedomostna-Academy of Sciences and the business sector. A system ,the academic community of international incubators will the coordination give a foundation for growth strategia.minerva ,of the Plenipotentiary of young companies with boldfor Knowledge Economy. ideas. In the long run, we will ,Minerva’s implementation conduct a curricular reform,!/plans were approved by the bring major investment MinervaSRCabinet on November 30, into research infrastructure2011. Outcomes will be seen through a more effective use 4
  5. 5. ECONOMY NEWS ECONOMY PROGNOSIS T he World Bank comprises following states: prognosticates 3% GDP Bulgaria, the Czech Republic, growth for Slovakia Estonia, Hungary, Latvia, in 2011 and 1.5% in 2012 in Lithuania, Poland, Romania, its EU10 Regular Economic Slovakia and Slovenia. Report. The EU10 region 5
  6. 6. ECONOMY NEWSMAINTAINED BANK´SRATINGS tandard & Poor‘s Ratings risk“ in „economic resilience,“ Services said that it is „economic imbalances,“ maintaining its Banking and „credit risk in theIndustry Country Risk economy”. Other countriesAssessment (BICRA) on the in BICRA group ‚4‘ includeSlovak Republic at group ‚4‘. Czech Republic, Malaysia,Slovakia has „intermediate Israel, and Qatar. 6
  7. 7. ECONOMY NEWSTOP SHOPPING INBRATISLAVABratislava is one of the top shopping destinationsin Europe, shows a new survey by the EconomistIntelligence Unit and tax-refund giant Global Blue.E xperts assessed the ability price of quality three-course of cities to attract tourists meal, but it received lower shopping abroad in the marks for stores since it hosts aGlobe Shopper City Index. The relatively low number of shopsSlovak capital is atop in terms attractive for foreign visitors.of availability, thanks to the 7
  8. 8. SARIO NEWSSLOVAK COMPANIES ONTHE WAY TO USASlovak firms have „The main objective of will receive a unique access to this project is to create a investors, great mentors andthe option to win mechanism for the promotion assistance in developmentrecognition in the and development of Slovak of their companies.Mecca of IT industry in companies based on innovation „Start Up Development and technology in order tothe U.S. Thanks to the secure their future entry into Program” is an excellent way to create a link between Slovak„Start Up Development the global market. The aim is companies in the technologyProgram“ of the also to facilitate the transfer sector and the experience of know-how, technologySlovak Investment and and capital by attracting which provides an area known for its expertise in SiliconTrade Development high-tech investments to Valley. It opens the door toAgency (SARIO) and Slovakia. “ Robert Simoncic, our small and medium sized SARIO CEO said.the support of the business entrepreneurs in the cradle, right in the centerMinistry of Economy of global economy, „ said The winners, Nicereplay,four innovative Coverpage, WorkInField, Juraj Miskov, the Ministercompanies have a Studentive, emerged from the of Economy of the SR.chance in the first competition. The innovative The project is scheduled to projects were judged by run till the end of 2012 andround to participate the Joint Committee, which it is funded from the statein an internship in included a company Plug & budget. The budget forSilicon Valley. Play from the U.S. The first two this project shall be used to winners will travel to Silicon open the incubator in Silicon Valley in January 2012, two Valley called STIC - Slovak more next spring. The winners Innovation Training Centre. 8
  9. 9. SARIO NEWS5TH SLOVAK MATCHMAKING FAIRSlovak Investment and Trade Development Agency (SARIO)organized in Žilina the 5th Slovak Matchmaking Fair.T he Fair was organized „We support mainly small and and foreign companies from by SARIO under the medium sized companies that 14 countries. In particular, the auspices of the Ministry do not have the capacity to participating subjects operateof Economy of the SR, in export their products. But mostly in electrical engineering,cooperation with the Žilina their products have the quality energy, engineering,Self-governing Region and that would be welcome and automotive industry, woodpartner country The Republic accepted abroad, „ said R. processing and plastics.of Serbia . The Fair is the Šimončič, CEO of SARIO.annual event which aims topromote Slovak companiesand support foreign trade. 5th Slovak Matchmaking Fair attracted in total 139 domestic 9
  10. 10. SARIO NEWSSEMINARS ABOUT SLOVAKBUSINESS ENVIRONMENTT hese events focused on the introduction Seminars were organized in collaboration of new SARIO services for established with members of the Investment investors and provided the opportunity Support Association (ISA).to discuss the challenges of everydaybusiness with reputable professionals. Nitra 15.11.2011 Main topics: Current issues of the Labour Code (Futej & Partners) and Investment Incentives (PricewaterhouseCoopers) Žilina 22.11.2011 Main topics: Current trends at the Labor Market (Lugera & Makler) and the Possibilities of the Real Estate Market (Point Park Properties) 10
  11. 11. UPCOMING EVENTS Business breakfast with Mr. Juraj Miškov 6 December 2011, Program: 8:30 - 10:10 am 8:30 - 9:00 Registration & breakfast Crowne Plaza Bratislava 9:00 - 9:10 Opening speech Hodžovo námestie 2, Róbert Šimončič, SARIO CEO 816 25 Bratislava 9:10 - 9:30 Business breakfast with Juraj Miškov, the Minister of Economy of the SR on: Investment environment and the current business situation in Slovakia 9:30 - 10:00 Questions & Answers 10:00 - 10:10 Closing remarks Róbert Šimončič, SARIO CEO Organizers: 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