Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

Economy Minister wants $500 million FDI in '99

Economy Minister Ľudovít Černák said on June 11 he wanted Slovakia to attract $500 million in foreign direct investment in 1999 and twice that amount in 2000. "My personal (FDI) target is $500 million before the end of 1999 and twice that next year," Černák told journalists.

In 1998, according to Economy Ministry data, Slovakia attracted some $170 million in FDI. In per capita terms, Slovakia's FDI inflows in the last several years represented a fraction of those in the neighbouring Czech Republic or Hungary.

The new government of Prime Minister Mikuláš Dzurinda, which came to power after a general election last September, presents FDI as one of the pillars of economic recovery. Earlier this year, the government passed a plan to attract investors using tax incentives, re-training schemes and other tools. Government members held roadshows in western-European countries, touting a turnaround economy with pro-European Union policies.

Černák said several concrete projects were already under discussion, but refused to disclose specific details. Earlier on June 11, the government said in a statement it expected to sign a $90 million investment deal soon to set up a production facility with electronic components producer Molex Incorporated.

Recently, the government approved a law amendment that would, if passed by parliament, lift the ban on privatisation of natural monopolies and so-called strategic enterprises, including telecom, gas distribution and electricity.

Top stories

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.

Cloud computing becomes a standard

External servers are now much more secure than local business ones, according to experts.

Slovak firms have their eyes on the cloud.

Slovaks drink less and less

Behind the decline in alcohol consumption is, for example, the abandoning of the habit of drinking at work – typical especially during communism, according to an expert.

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska