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Malatinský recommends investment aid for six companies

Investment aid totalling €20.1 million in the form of tax breaks and subsidies for the acquisition of assets should go to six companies, according to a proposal on the provision of investment aid from the Economy Ministry that will be discussed at cabinet session. The companies that have applied for the investment aid include a company called Schindler from Dunajská Streda which is one of the world leaders in production of escalators and lifts and is based in Switzerland, rolling bearings manufacturing companies INA from Kysucké Nové Mesto and Schaeffler Slovakia from Žilina, supplier of medical single-use devices Unomedical from Michalovce, compressor producer Embraco Slovakia from Spišská Nová Ves and shoemaker FLAMEshoes from Bardejov. “The submitted investment projects should create a total of 226 new jobs in eastern Slovakia, 165 in central and the rest in western Slovakia,” Malatinský told the TASR newwire adding that the overall number of new jobs stands at 657. The ministry estimates that these six investments could generate revenues for state budget of more than €120 million. The largest share of all the investments that applied for investment aid are related to expanding existing plants, increasing production, or to substantial modernisation of technological equipment and increasing competitiveness of companies in Slovakia.

Investment aid totalling €20.1 million in the form of tax breaks and subsidies for the acquisition of assets should go to six companies, according to a proposal on the provision of investment aid from the Economy Ministry that will be discussed at cabinet session.

The companies that have applied for the investment aid include a company called Schindler from Dunajská Streda which is one of the world leaders in production of escalators and lifts and is based in Switzerland, rolling bearings manufacturing companies INA from Kysucké Nové Mesto and Schaeffler Slovakia from Žilina, supplier of medical single-use devices Unomedical from Michalovce, compressor producer Embraco Slovakia from Spišská Nová Ves and shoemaker FLAMEshoes from Bardejov.

“The submitted investment projects should create a total of 226 new jobs in eastern Slovakia, 165 in central and the rest in western Slovakia,” Malatinský told the TASR newwire adding that the overall number of new jobs stands at 657.

The ministry estimates that these six investments could generate revenues for state budget of more than €120 million. The largest share of all the investments that applied for investment aid are related to expanding existing plants, increasing production, or to substantial modernisation of technological equipment and increasing competitiveness of companies in Slovakia.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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