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Suppliers fuming after economy minister rejects stimuli

SUPPLIERS of the Kia automobile manufacturer, which is building its new plant near the northern Slovak town of Žilina, have threatened legal action after being told they will not receive any incentives from the Slovak government.

According to Dušan Dvořák, the spokesman for Kia Motors Slovakia, which supports its suppliers' demand for incentives, the suppliers have already informed the economy and finance ministers of their plans to take the case to the International Center for Settlement of Investment Disputes in Washington DC.

Economy Minister Jirko Malchárek has remained resolute, though.

"As long as I am economy minister, this government will never bow to pressure or threats of international court or arbitration. We evaluated the options for providing assistance to the suppliers and reached a fair decision that Slovakia wouldn't provide any," he said on April 3.

According to Dvořák, one South Korean supplier of Hyundai/Kia, SungWoo Hitech, already left Slovakia after being refused incentives, the SITA news agency wrote.

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

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