SLOVAKIA lags slightly behind the Czech Republic in direct foreign investments, according to the results of a study carried out by the consulting firm Ernst&Young (EY). The Economy Ministry pointed out, however, that according to the study results, Slovakia placed better than the Czech Republic in the number of new jobs, with over 5,500 new jobs created in the Czech Republic compared to almost 6,300 in Slovakia.

"These facts represent the key aspect of foreign investments in Slovakia,” Minister Tomáš Malatinský said, as quoted by the SITA newswire. “Slovakia remains attractive to foreign investors. Renowned analytical companies confirm this. Therefore, the opposition's allegations that Slovakia is a black hole are misleading, to say the least.”

The minister underscored the need to support established companies that have been operating in Slovakia.

"A lot of investors keep expanding their capacities in Slovakia, reinvesting the profits they have earned in Slovakia, or loans from local financial institutions," added the minister.

These investments are not recorded in statistics on new investments.

"Last year, the government supported with investment aid the expansion of several companies operating in Slovakia. Just these investments were worth more than €300 million and created over 2,000 new jobs," Malatinský added.

Source: SITA

Compiled by Michaela Terenzani from press reports
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.