Radičová: Samsung request for state aid does not meet criteria

A request by Samsung Electronics Slovakia for investment assistance of €28 million does not comply with the criteria for such aid, Prime Minister Iveta Radičová said after a government session on Wednesday, February 22.

A request by Samsung Electronics Slovakia for investment assistance of €28 million does not comply with the criteria for such aid, Prime Minister Iveta Radičová said after a government session on Wednesday, February 22.

The government postponed a decision on whether to provide the Galanta-based company with tax relief. According to Radičová, Slovak and EU regulations in this sphere allow such assistance to be provided only if it is designed to create jobs or is provided to regions with a high unemployment rate. Neither is currently the case for the Samsung application. However, Radičová stressed that Samsung's application had not been dismissed and that the government was ready to provide support to the company if “a new programme involving research activities were involved”.

She also added, as quoted by the TASR newswire, that she was curious whether Samsung would continue to require state assistance every time it uses up previously-allocated investment aid. Samsung filed a request with the Economy Ministry for the current assistance in late September 2011. It stated that the money would support the modernisation of production of new LED TV models and preparation work for new types of 3D, SMART and OLED televisions in the existing plant. TV Markíza reported in November that the South Korean company was considering closing down its plants near Trnava and Galanta (Trnava Region) and moving to Romania. The company denied the reports.

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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