BUSINESS IN SHORT

State changes investment aid rules

THE RULES that Slovakia will use when providing investment assistance to firms will change based on an amendment to the Act on Investment Assistance signed by President Ivan Gašparovič on July 18.

THE RULES that Slovakia will use when providing investment assistance to firms will change based on an amendment to the Act on Investment Assistance signed by President Ivan Gašparovič on July 18.

The conditions and limits for receiving investment assistance from the state will vary among Slovakia’s eight regions so that the state assistance supports more job creation in regions with high unemployment and focuses more on investments with higher added value, the TASR newswire reported.



Economy Minister Juraj Miškov, who proposed the changes, said that assistance will be aimed particularly at eastern Slovakia and to the Žilina and the Banská Bystrica Regions, stating that, “an investor will have no chance of getting investment assistance in Bratislava,” as quoted by TASR.



The amendment also reduces by half the minimum level of investment required to seek state financial support. The ministry believes this will broaden the range of firms that are eligible.



The state’s investment support will typically be provided only in the form of tax relief.

“We don’t want to give investors money,” Miškov said. “After all, we don’t have much of it in the budget.”

The maximum period for receiving assistance was also increased from five years to ten years.


Get daily Slovak news directly to your inbox

Top stories

Here's what the across-the-board coronavirus testing should look like

The Defence Ministry introduced the basic steps of the planned testing.

Bratislava is testing special trolleybus

Public transport should become greener in the capital.

Bratislava borroved the hybrid trolleybus from the Czech city of České Budějovice for a week.

Teachers trust conspiracy media, they think the government is not handling the pandemic well

One-third of teachers think the coronavirus vaccination is a preparation for implanting chips, recent poll shows.

The school in Trenčianske Stankovce.

Ombudswoman, summer festival and a scientist. The awards for sustainable development have been granted

The Pontis Foundation awarded organisations, institutions and individuals for the second time.