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Parliament adopts investment incentives bill

INVESTMENT incentives will be directed mainly to regions with high unemployment rates and projects with a higher added value, under a bill adopted by the Slovak Parliament on October 29, the SITA newswire reported.

The bill outlines incentives for investors for industrial production and technological projects, strategic service centres and tourism centres. The final word on the allocation of investment aid rests with the cabinet.

The bill regulates the terms and limits for providing individual forms of investment aid, according to the sector and region. The principle of providing more aid to more advanced projects in less developed regions has been preserved. The Economy Ministry estimates 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.

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