BUSINESS SHORTS

Lebanese and Hong Kong companies to invest in Slovakia

COMPANIES from Lebanon and Hong Kong plan to invest in Slovakia. The Slovak Trade Development Agency (SARIO) said that the potential investors are a Lebanese firm, Laceco International, and a Hong Kong firm, Luda Development Limited, the SITA newswire reported.

COMPANIES from Lebanon and Hong Kong plan to invest in Slovakia. The Slovak Trade Development Agency (SARIO) said that the potential investors are a Lebanese firm, Laceco International, and a Hong Kong firm, Luda Development Limited, the SITA newswire reported.

The planned Lebanese investment is €70 million and two hundred jobs should be created and SARIO said the company from Hong Kong plans to invest €10 million with a perspective of creating fifty new jobs, SITA wrote.

Laceco International’s Vice President, Fayez Makkouk, said at a meeting with representatives of SARIO and the Economy Ministry that the investment is in the services area.

“We do not rule out investments into the banking or health care sectors,” Makkouk added, as quoted by SITA.

According to Raymond Law, representative of Luda Development Limited, the company decided to invest in Slovakia due to the country’s strategic geographical location in the centre of Europe, language closeness with neighbouring countries, and membership in the European Union and the eurozone. Luda Development is active in health care, mining raw materials and import of minerals waters.

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