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Parliament adopts investment incentives bill

Investment incentives will be directed mainly to regions with high unemployment rates and for investments with a higher added value, according to the draft bill on investment incentives that the Slovak Parliament approved on October 29, the SITA newswire reported.

The bill anticipates a provision of investment incentives for projects in the areas of industrial production and technological, strategic services and tourism centres. The final word on the allocation of investment aid rests with the cabinet.

The bill regulates the terms and limits for the provision of individual forms of investment aid differently according to sector and region. The principle of providing higher investment aid for more advanced projects of bigger added value in less developed regions has been preserved.

The Economy Ministry has estimated that, next year, the government could spend Sk2 billion (€60 million) on investment incentives in the form of direct and indirect support. In 2009, this sum could drop to Sk1.5 billion (€45 million). SITA

Compiled by Zuzana Vilikovská from press reports
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