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Hungarians investment flourishes in southern Slovakia

LAST YEAR over a thousand Hungarian firms opened branches or moved their headquarters to towns in southern Slovakia.

Lower taxes and the locals' knowledge of Hungarian are the main reasons for the Hungarian firms to move to Slovakia, the daily SME reported.

"Not only the advantageous VAT rate but also Komárno's European atmosphere inspired us to come," said one Hungarian shop owner who moved there from Budapest.

The Hungarian firms are mostly in the fields of furniture sales, consumer sales and animal fodder.

However, thousands of Slovaks have also taken up jobs in the northern part of Hungary, which has reduced the unemployment rate in Komárno down from 20 to 10 percent.

Compiled by Beata Balogová from press reports
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