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New bill to direct investment to poorer regions

A new law on the cabinet agenda August 15 would steer investment to regions with high unemployment.

The draft bill on investment aid, prepared by the Economy Ministry, would also give preference to investments with higher added value.

The law, which would take effect on January 1, 2008, involves investment stimuli for projects in the areas of industrial production, technological centres, strategic service centres and tourism centres.

However, the cabinet will still have the final say in the allocation of investment stimuli.

The draft bill divides the terms for individual forms of investment aid by sector and region, while the principle of providing more aid to projects with higher added value in less developed regions will be preserved.

- SITA

Compiled by Zuzana Vilikovská from press reports
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