New law on investment incentives in works

SLOVAKIA'S Economy Ministry is preparing a new Act on Investment Stimuli that should introduce new rules for state aid to both domestic and foreign investors as of January 2007.

Deputy Economy Minister Peter Žiga, speaking at the Central European Investment Conference in Bratislava on September 25, said that while the government would be honouring all past commitments on aid to investors, the new rules would encourage investments with a higher added value, and would be more open to domestic investors than in the past.

Under the new legislation, investors could gain tax holidays of up to 10 years, the deputy minister said.

“Slovakia wants to continue making the investment and business environment across all industrial sectors more attractive, and to support high-tech innovations in the information and computer technologies fields as well as research and development,” he said

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