Spectator on facebook

Spectator on facebook

FOCUS SHORT

Spanish investor aims for Prešov

THE EAST of Slovakia is continuing to attract foreign investors. A Spanish company now says it wants to employ 400 people in the IPZ Záborské industrial park in Prešov, the Hospodárske Noviny financial daily reported in late June.

THE EAST of Slovakia is continuing to attract foreign investors. A Spanish company now says it wants to employ 400 people in the IPZ Záborské industrial park in Prešov, the Hospodárske Noviny financial daily reported in late June.

“We are negotiating with [a] Spanish investor,” Pavel Hagyari, mayor of Prešov, told the daily.
The company was later identified as Fundería Condals, which produces metal castings for the automotive industry. According to Hagyari, the Spanish firm plans to invest €10 million in Prešov.
Neither the Slovak Investment and Trade Development Agency (SARIO) nor the Slovak Ministry of Economy have yet received any official application for investment aid from the Spanish company, but the daily reports that an application is expected. Based on current legislation the firm could get aid of up to 50 percent of its costs, as it would be investing in a region with a high unemployment rate, currently 17 percent.

The daily speculated that it might be potential cooperation with American firm Honeywell or the cheap local labour force that lies behind the Spanish company’s decision to invest in Prešov. Wages in the region are the lowest in Slovakia, at just over €600 per month.

According to the daily, if negotiations are successful, the investor might start building production premises later this year.

Topic: Foreigners in Slovakia


Top stories

Cloud computing becomes a standard

External servers are now much more secure than local business ones, according to experts.

Slovak firms have their eyes on the cloud.

Slovaks drink less and less

Behind the decline in alcohol consumption is, for example, the abandoning of the habit of drinking at work – typical especially during communism, according to an expert.

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska

Arca Capital enters the banking sector

Czech and Slovak financial group acquires a majority share in Austrian private bank Wiener Privatbank.

Bank, illustrative stock photo