BUSINESS SHORTS

Sony demands high incentives

THE JAPANESE firm Sony is asking the Slovak government to pay 42 percent of its planned investment into a plant that would produce LCD TV sets in Nitra, according to a secret document that the government discussed at the end of September.

According to the Pravda daily, the government has already asked the Economy Ministry and the SARIO investment agency to prepare an investment contract with Sony in line with this material.

In percentage terms, Sony would be receiving the highest state support that has ever been provided to a large investor in Slovakia.

Sony is planning to invest Sk2.8 billion in Nitra and employ 3,000 people at the new plant. Around a half of these people should be transferred to Nitra from Sony's current plant in Trnava, which will be closed.

Economy Ministry spokesman Branislav Zvara would not comment on the information.

"I cannot comment on specific numbers. The support for Sony is in line with the rules governing the provision of state aid as well as with EU legislation in the area," he said.

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