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Honeywell to invest in Slovakia

ECONOMY Minister Juraj Miškov on March 14 confirmed plans by US-based multinational Honeywell International to invest over €38 million in Slovakia. The investment will create at least 446 new jobs in Prešov, producing turbochargers designed for cars and trucks , the TASR newswire reported.

ECONOMY Minister Juraj Miškov on March 14 confirmed plans by US-based multinational Honeywell International to invest over €38 million in Slovakia. The investment will create at least 446 new jobs in Prešov, producing turbochargers designed for cars and trucks , the TASR newswire reported.

The Economy Ministry intends during an upcoming cabinet session to submit a proposal on providing Honeywell with investment assistance.

“The government will then act on the investor’s request by issuing a decision on the proposal for investment assistance,” the ministry stated, as quoted by TASR.

The ministry said that Honeywell ha d fulfilled all criteria required under Slovak and EU law. The investment aid would take the form of direct financial help through subsidies when procuring material and non-material investment property, through contributions for creating new jobs, and through indirect help, including an income tax allowance on condition that maximum-intensity aid for eastern Slovakia is fulfilled.


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