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

Historically first ex-ministers were sentenced for the bulletin-board tender

Former construction ministers of the SNS party have received years in prison for the scandal surrounding the infamous bulletin-board tender. The other three defendants, ministry officers, have been acquitted.

L-R: Marian Janušek is ianugurated as replacing Igor Štefanov in post of construction minister, April 2009.

Refurbishment of Trnavské Mýto has started

The facelift of the underpass crossing should be completed by summer. Fate of nearby Istropolis still not known

Reconstruction of Trnavské Mýto underpass started.

Europe will continue fighting dual quality products

The recent Bratislava summit raised some suggestions on solving the problem, but it will be a long process.

Yeme grocery store in Bratislava.

The chairman of the committee tasked to improve tax returns has problems himself

The newly set-up committee meant to prepare a law on the more detailed property disclosures of politicians is headed by ex-minister Martin Glváč from Smer, who is refusing to publish details of his assets.

L-R: Martin Glváč and Andrej Danko