Spectator on facebook

Spectator on facebook

China wants to restore the Silk Road to Europe

THE NEW project planned by China should restore the business and tourist potential of the Silk Road, which used to connect Europe with the Asian continent in the past.

Deputy PM for Investments Ľubomír Vážny(Source: SME)

The support to the project is part of the memorandum signed by Chinese representatives and the Slovak Deputy PM for Investments Ľubomír Vážny during his late-November visit to Beijing. It focuses on modernisation and reconstruction of the road and railway infrastructure between the continents as well as electronic data transfer. It is a long-term plan with the aim of restoring business exchanges between the participating countries, Vážny said.

“China wants to become involved in the developments of the investment units in infrastructure,” Vážny continued, as quoted by the TASR newswire.

In Slovakia's case, China wants to become established in the field of intermodal transport terminals, especially in Košice and Bratislava. These projects should be used until the broad-gauge railway construction is completed.

Besides this, the Silk Road project should also contribute to the exchange of knowledge in science, research, technologies, or establishing the joint ventures, as reported by TASR.

In addition, Chinese company ZTE Corporation plans to cooperate with Bratislava-based Slovak University of Technology (STU) and Comenius University (UK) on founding the scientific-research service centre for €20 million. The centre should focus on applied research in information and communication technologies (ICT), biotechnologies, bioinformatics, and related sciences.

The new centre, situated in Bratislava, should create about 100 new jobs by 2020, the SITA newswire reported.

“From the point of new technology and research in applied informatics, China is far ahead of us,” Pavel Čicák, dean of the Faculty of Informatics and Information Technologies of STU, told SITA. “If we succeed in taking part of its know-how to Slovakia and together with our experts move forward, it will be a great opportunity for us.”

Analysts praise the cooperation plans with China, saying it may bring further investments to Slovakia in the future. Slovakia, in return, may serve to China as a stepping stone to further investment expansion to the European Union, TASR wrote.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Kuciak did not even have a computer as a child and he grew up to be an analyst

A village boy who angered Marian Kocner. A profile of Ján Kuciak, who recently received the White Crow award in memoriam.

Ján Kuciak

UPDATED: Lajčák considers resignation if the migration compact is rejected

The foreign affairs minister also admitted to some disputes with PM Robert Fico.

Foreign Affairs Minister Miroslav Lajčák

How to cope with waste

Slovakia lags behind in recycling and reducing waste, but examples of other countries, particularly the Netherlands, are helping Slovakia implement strategies to reduce waste.

Roughly 67 percent of communal waste ended up at landfills in Slovakia, while only 23 percent was recycled.

Europe might not be just an innocent victim

While real estate bubbles in the US, Greece and Spain were partial causes of global crisis, irresponsible lending was also rife in places you hear little about.