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Gašparovič signs law amending Slovakia’s investment assistance methods

Slovakia’s provision of investment aid is slated to include new conditions and limits differentiated in accordance with the economic sector and region, based on an amendment to the Investment Assistance Act signed by President Ivan Gašparovič on July 18, the TASR newswire reported. The amended law aims to foster job creation in areas with high unemployment rates and to increase investments with added value. Eastern Slovakia's Košice and Prešov regions as well as central Slovakia's Zilina and Banska Bystrica regions should be bolstered by the amendment, TASR wrote.

Slovakia’s provision of investment aid is slated to include new conditions and limits differentiated in accordance with the economic sector and region, based on an amendment to the Investment Assistance Act signed by President Ivan Gašparovič on July 18, the TASR newswire reported.

The amended law aims to foster job creation in areas with high unemployment rates and to increase investments with added value. Eastern Slovakia's Košice and Prešov regions as well as central Slovakia's Zilina and Banska Bystrica regions should be bolstered by the amendment, TASR wrote.

"For instance in Bratislava, an investor won't have any chance of receiving investment aid," said Economy Minister Juraj Miškov, as quoted by the TASR newswire.

The minimum amount of investment needed to acquire assistance will be increased and tax relief will become the primary form of investment aid, TASR wrote.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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