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BREAKING NEWS

Incentives rules approved

THE SLOVAK Cabinet has approved new rules for providing state incentives to investors. The cabinet hopes that clear rules will attract help more investors to Slovakia.

"Investors will finally know what incentives they are entitled to from the Slovak government," said Juraj Kotian, the chief analyst with Slovenská sporiteľňa bank.

According to the new rules, Slovakia will be divided into three zones. The zones will stipulate the total value of incentives that investors will be entitled to. Higher incentives will be approved for investors who place their investments into areas with a higher jobless rate.

The cabinet also agreed that investments above Sk10 billion (€256 million) will be evaluated as strategic provided that they create at least 1,000 new jobs. Strategic investors will be able to negotiate for individual assistance.

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