Illustratice stock photo (source: TASR)
Investment aid is an important tool that reduces disparities across Slovakia with the aim of promoting investments in less developed Slovak regions and increasing the competitiveness of the economy. Support for new and established investors for the realisation of their investment projects in existing or new operations is another key feature.
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On September 16, 2021, the European Commission approved Slovakia’s map for granting regional aid from January 1, 2022 to December 31, 2027 under EU state aid rules.
An official press release states that the Slovak regional aid map is among the first maps approved by the commission under the framework of the revised Regional Aid Guidelines (“RAG”). The revised RAG, adopted by the commission on April 19, 2021 and coming into force on January 1, 2022, enable member states to support the least-favoured European regions to catch up and reduce disparities in economic well-being, income and unemployment – cohesion objectives that are at the heart of the union. Under the revised RAG, regions including 87.97% of the population of Slovakia, will be eligible for regional investment aid.
Maximum aid intensities for large enterprises depend on the GDP per capita of the respective regions:
• Western Slovakia has a maximum aid intensity for large enterprises of 30%;
• Central Slovakia has a maximum aid intensity for large enterprises of 40%;
• Eastern Slovakia has a maximum aid intensity for large enterprises of 50%.
In these areas, the maximum aid intensities may be increased by 10% for investments made by medium-sized enterprises and by 20% for investments made by small enterprises, for their initial investments with eligible costs of up to €50 million.
Classification of districts (source: Courtesy of PWC)
