Spectator on facebook

Spectator on facebook

Investor warns against Slovakia

A GERMAN investor, Alexander Reichhardt, is warning German firms not to invest their money in Slovakia, the daily SME wrote.

In 1997, the owner of the Slovak-German firm Lux Invest from Banská Bystrica decided to import about 1.25 million litres of Romanian wine to Slovakia in response to the preferential import duty of 25 percent, which is approximately 60 percent lower than the regular duty.

However, the Slovak customs bodies imposed an import duty of 87 percent on the businessman, despite his firm's meeting of all the criteria of the preferential duty.

He was forced to pay Sk7.2 million (€176,000) more than he had anticipated.

He has been trying to persuade Slovak customs bodies that they made the wrong decision for three years.

Disappointment drove the businessman to criticize the country and warn potential German investors against coming to Slovakia. He even wrote his close friend, EU commissioner Günter Verheugen, over the issue.

Top stories

Problematic highway stretch, Turany-Hubová, will go via Korbeľka tunnel

This variant is more environmentally friendly compared with the surface variant originally planned.

Landslide during construction of the highway near Šútovo in 2013.

Talent is not always enough - sport is an expensive hobby

Promising young athletes often do not have the chance to bring their talent to the next level due to lack of funds.

Slovakia remains unknown in convention business

Ten MICE events in 2017 should bring almost €6.5 million to Bratislava.

The GLOBSEC security forum is one of the regular MICE events in Slovakia since 2005.

Adient technology centre announces major growth phase

It is looking for product designers, engineers and test technicians.

Designing new components in Adient in Trenčín.