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SARIO Newsletter December 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.

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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SARIO Newsletter December 2011

  1. 1. NewsletterSlovak Investment and Trade Development Agency December / 2011 Slovakia in the spotlight of investors More on page 9 1
  2. 2. INVESTMENT NEWSVW READY TO INVEST AGAINEurope’s No. 1 in terms of car sales, Volkswagen,will land another investment in Slovakia.T he German group decided the investment plan to an EIA open a research and innovation to pump EUR 1.1 billion study. The car manufacturer weld center in Bratislava which and create 1,200 jobs at wants to build a new weld should work on developmentits plant in the Slovak capital. shop for luxurious SUVs in Q1 of car components.The company has submitted 2012. Additionally, VW plans to 2
  3. 3. INVESTMENT NEWSINVESTMENTS IN THEEASTERN SLOVAKIAI talian packaging technology of another unnamed big U.S. generate electricity and heat manufacturer Travelin automotive investor that in its compressor station in is heading towards should create 1,000 jobs. Good Kapusany. Construction worksthe IPZ Presov- Zaborske news for Presov is also the will create 200 jobs. The gasindustrial park. The investor, plan of car seat manufacturer supplier assumes this projecta sub-contractor of the Lear to open 132 new jobs will produce annual capacity atU.S. turbocharger maker within production expansion. 200,000 MWh of electricity.Honeywell, will create 100 Vjobs in the horizon of twoyears. The company has not elke Kapusany willyet applied for investment get the investment ofincentives never the less the the year in the energyMinistry of Economy refrains industry. Gas utility SPPfrom providing state aid to plans to invest nearly EUR 55sub- contractors. Minister million in the eastern SlovakiaMiskov announced also an via its affiliation Eustream.interest for location of Presov The company intends to 3
  4. 4. INVESTMENT NEWSREFINERYThe refinery and petrochemical giantSlovnaft is planning to invest EUR 300million in plastics production.T he company wants production line that will to bolster its make nearly thirty kinds competitiveness in of this thermoplastic.the sale of plastics andimprove ecological aspects ofproduction. The refiner wantsto build a new polyethylene 4
  5. 5. ECONOMY NEWSUNFLATTERINGFORECASTThe National Bank of Slovakia (NBS) hasrevised downward its estimate of Slovakia’seconomic growth for next year.A ccording to the latest that the real development prognosis, the central might be even worse than bank expects gross the official prognosis says.domestic product to grow “We consider the 2.3-percentat 2.3 percent, while in the growth to be realistic accordingprevious prognosis it estimated to data available as ofgrowth of 3.8 percent. The November 17, 2011. Of course,continued deceleration of the we also have an alternativeeconomy should thus continue forecast. If downward risksin 2011. NBS governor Jozef materialize, it will be at 0.5Makuch, however, admits percent,” Makuch said. 5
  6. 6. ECONOMY NEWS SLOVAKIA DROPPED DOWN IN THE RANKING Slovakia slipped from “Slovakia plunged in the ranking for 2012 because the 131st to the 135th other countries managed to place in the latest PwC do more to reform their tax Paying Taxes Rankings systems,” reasoned Country Managing Partner of PwC that compared tax Slovensko Todd Bradshaw. systems in 183 countries. 6
  7. 7. ECONOMY NEWSCRISIS AFFECTSSLOVAKS OPINIONS till more Slovaks believe The EU median in September coordinated with other that the crisis will last was 41 %, according to EU states but the support several years. Thirty- a Eurobarometer survey for this path weakenednine percent of respondents conducted among more than 3 percentage points.offered this opinion in the 26,000 respondents. Almostpoll in September, what was 70 % of Slovaks confirmed10 percentage points more that the crisis afflicted theircompared to April last year. lives. Slovaks prefer solutions 7
  8. 8. SARIO NEWSISRAELI COMPANIES AREINTERESTED IN SLOVAKIAS lovak Investment and During the visit to Israel Aviv attended more than 50 Trade Development SARIO representatives business subjects interested Agency (SARIO) continues focused mainly on meetings mainly in economic conditionsto fulfil its mission to attract with potential investors – in Slovakia, opportunities forforeign investors. Therefore successful Israeli companies as doing business and possiblethe Agency organized at the well as meetings with Israeli government and municipalitiesend of November 2011 an institutions and scientific support. Since Israel isinvestment seminar and a and technological incubator. the leader in research andseries of trade negotiations More than 15 meetings were development, the topic ofin Israel. This business trip held during three days visit. cooperation with technologywas prepared in cooperation centers in the fields of ICT,with the Embassy of the SR software, natural sciences,to Israel and the Israeli-Slovak “Israeli companies have great semiconductors and others wasChamber of Commerce. potential for investment in the forefront of discussions.SARIO was represented by in Slovakia. They have theRobert Simoncic, SARIO capital for which they needCEO, Andrea Gulova, the partners in Slovakia. They areDeputy CEO and the Head interested mainly in investmentof the FDI Section as well as into existing projects in foodSARIO project managers. industry and engineering,” said Robert Simoncic, SARIO CEO. The investment seminar in Tel 8
  9. 9. SARIO NEWSSLOVAKIA IN THE SPOTLIGHTOF INVESTORSS lovak Investment and the potential to create 2,634 high unemployment rate. Trade Development to 4,353 new jobs. Most of Thanks to new foreign Agency (SARIO) has had the completed projects so investment the inhabitantsa successful 2011. According far are directed towards of these regions will be givento SARIO´s statistics the disadvantaged regions. The the opportunity to find jobsinvestment volume in regions of Trnava, Prešov, and consequentially providecomparison with the last year Trenčín, Banská Bystrica and them with social security,“increased 4-fold and 2-fold Žilina will receive majority of said Andrea Gulova, Directorincrease was observed in them. In terms of distribution of the Division of Foreignthe number of new jobs. of the industries the largest Direct Investment of SARIO. volume of investments traditionally goes to the„The aim of the Ministry of automotive, electrical and SARIO´s aim is to be aEconomy of the SR together metal processing industries. modern agency, which will bewith SARIO under new perceived by foreign investorsmanagement is to build name and domestic partners asof Slovakia as business friendly „Thanks to its new strategy a vehicle for growth andcountry and thanks to the SARIO was able to attract to innovation. SARIO wants toquality of business environment Slovakia more foreign investors assist to the development ofto turn it into a gateway for all than in the last period. I am the Slovak economy in theinvestors. Today‘s results are a pleased that this will create maximum extent possible byclear indication for us that we new jobs and help to improve attracting new investmentare on the right track to hit our the living standards of citizens and offering trade support,target.“ said Juraj Miskov, the of Slovakia,“ said Robert which shall bring its resultsMinister of Economy of the SR. Simoncic, SARIO CEO. in creation of new jobs and ultimately increase the living standards in Slovakia.In 2011 SARIO managed to „We are very pleased thatconclude projects totaling we managed to localizeEUR 517.6 million which have projects to the regions with 9
  10. 10. SARIO NEWSSARIO: 2011 STATISTICS 2009 2010 2011 No. of Volume of investment No. of No. of Volume of Volume of concluded concluded New concluded New jobs investment investment New jobs projects mil. EUR mil. SKK projects jobs projects in mil. EUR in mil. EUR (Q1-Q4) (Q1-Q4) (Q1-Q4) 1 6,30 189,79 150 1 0,02 3 4 86,40 1 146 1 5,00 150,63 70 7 35,20 498 6 173,12 534 3 24,50 738,09 1 200 6 40,70 935 6 31,30 920 3 208,63 6 285,19 3 030 6 47,00 915 10 226,77 1 754 8 244,43 7 363,70 4 450 20 122,92 2 351 26 517,59 4354 Volume of No. of Concluded Region investment in New jobs (2011) projects (2011) mil. EUR (2011) Prešov 4 59 701 Košice 1 10 100 Banská Bystrica 3 46 570 - 750 Žilina 3 47,17 607 Trenčín 4 138,30 454 - 624 Nitra 3 31,2 347 Trnava 6 55,9 555 – 925 Bratislava 2 130 300 Investments by sector No of projects Manufacture of wood and 1 product of wood except Manufacture of paper and paper products 2 Manufacture of rubber and plastic products 8 Manufacture of fabricated metal products 5 Manufacture of computer, 2 electronic and optical products Manufacture of electrical equipment 1 Manufacture of motor vehicles, 3 trailers and semitrailers Manufacture of furniture 1 Supply of electricity, gas, steam and cold air 2 SSC & CC 1 10
  11. 11. SARIO NEWS2011: LIST OF CONCLUDED PROjECTS Coutry of Location Region ofNr Company Name Sector Origin in the SR the SR Manufacture of fabricated metal products,1 Funderia Spain Prešov Prešov except machinery and equipment Manufacture of motor vehicles,2 HONEYWELL II. U.S. Prešov Prešov trailers and semitrailers3 Amazon U.S. SSC & CC Bratislava Bratislava Republic Manufacture of computer,4 Topaz Piešťany Trnava of Korea electronic and optical products Czech Manufacture of fabricated metal products,5 Behr Námestovo Žilina Republic except machinery and equipment Great Manufacture of fabricated metal products, Trenčianske6 KMF Trenčin Britain except machinery and equipment Stankovce Swedspan Manufacture of wood and product of7 Sweden Malacky Bratislava Slovakia s.r.o. wood except of paper and paper products8 Biometrix s.r.o. Holland Manufacture of rubber and plastic products Šamorín Trnava Republic9 Daejung Manufacture of rubber and plastic products Ilava Trenčín of Korea Rimavská Banská10 SLOVAKIACONSULT Slovakia Supply of electricity, gas, steam and cold air Sobota Bystrica11 Horecup Slovakia Manufacture of paper and paper products Nitra Nitra12 Magna Slovteca Germany Manufacture of rubber and plastic products Trnava Trnava Banská13 Eilersen Denmark Manufacture of furniture Veľký Krtíš Bystrica14 Fremach Belgium Manufacture of rubber and plastic products Trnava Trnava Manufacture of fabricated metal products,15 Arcelor MTB Slovakia Senica Trnava except machinery and equipment16 Piva Group Italy Manufacture of rubber and plastic products Trenčín Trenčín Republic Manufacture of motor vehicles,17 SUNGWOO Žilina Žilina of Korea trailers and semitrailers Plastiflex Slovakia18 Belgium Manufacture of rubber and plastic products Kežmarok Prešov spol. s r.o. Johnson Controls Manufacture of computer,19 U.S. Námestovo Žilina Námestovo electronic and optical products20 Aspel Slovakia Slovakia Manufacture of rubber and plastic products Kežmarok Prešov21 Celltex Slovakia Manufacture of paper and paper products Rožňava Košice Manufacture of motor vehicles, Banská22 Dometic Sweden Fiľakovo trailers and semitrailers Bystrica23 FLH ENALCO Slovakia Supply of electricity, gas, steam and cold air Palárikovo Nitra Manufacture of fabricated metal products,24 ESNASA Spain Leopoldovo Trnava except machinery and equipment Continental25 Germany Manufacture of rubber and plastic products Púchov Trenčín Matador Rubber Zlaté26 Secop Germany Manufacture of electrical equipment Nitra Moravce 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