Investment highlights 2017

Check out the most important investment events in the past year.

AeroMobilAeroMobil (Source: TASR)

November 2016

  • The Slovak branch of the German carmaker Volkswagen says it will invest some €5.5 million to expand the production of its plant in Martin (Žilina Region) and create 30 new jobs.
  • Hyunnam SK, the producer of components for the automotive industry, revealed its plans to invest nearly €17 million in expanding its production capacities in Krásno nad Kysucou (Žilina Region).
  • A total of 70 industrial and commercial companies carried out significant investments in Slovakia, amounting to €2.4 billion in 2015. The firms mostly invested into extending their production capacity and making it more efficient, as well as into creating new products and new manufacturing processes, according to the analysis of the consulting company KPMG Slovensko.

December 2016

  • More than half of the companies that participated in the Job Market Rating survey, carried out by the company McRoy, plan to recruit new staffers in the following two months, while nearly one-fifth of them want to keep the current number of employees and only 6.5 percent of firms want to dismiss people.
  • The Prešov-based engineering company Spinea, a producer and developer of high-precision reduction gears, asked the Slovak government for an investment stimulus for its project to extend and innovate its production. They plan to invest almost €66 million in total during the years 2017 and 2021.
  • The Japanese brewery Asahi bought several firms in central and eastern Europe currently owned by SABMiller, including Pivovary Topvar in Slovakia, for €7.3 billion.
  • The company ZF Slovakia, a German producer of silencers, says it will build a new plant in Šahy (Nitra Region), investing some €12.5 million and creating up to 450 new jobs in two phases.

January 2017

  • Slovakia declined four places compared to the previous year in the Variables for Sustainable Growth Index 2016. It ended up 44th of the 180 countries surveyed by the consulting company KPMG.
  • The French company Faurecia started the production of seats for Bratislava-based carmaker Volkswagen in its newly-opened production hall situated in the building owned by the company P3. Altogether, 1,300 people are expected to find jobs there.
  • In total, 29 investment projects worth €930 million were brought to Slovakia in 2016, resulting in the creation of 7,500 jobs, according to the data provided by the Economy Ministry and the Slovak Investment and Trade Development Agency (SARIO).

February 2017

  • The activity on the Slovak market for investment properties broke records in 2016 when the volume of transactions increased by 94 percent to €853 million, according to the commercial property and real estate services adviser CBRE.
  • Plastic Omnium Auto Exteriors, the producer of plastic components for the automotive sector, revealed its plans to invest €50 million into the industrial park near Hlohovec (Trnava Region), creating 500 new jobs in the years 2017-2020.

March 2017

  • The US company Amazon decided to open a new logistics centre in Slovakia, situated close to Sereď (Trnava Region). The centre will employ around 1,000 people in the next three years.
  • The Matador Group expanded its production in Nitra’s borough of Dolné Krškany, opening a new factory for pressing and linking materials made of aluminium alloys for the automobile industry. The project, worth €22.4 million in total, also involved technological investments to the tune of €14 million.
  • Foreign investors have positive perceptions of the economic situation in Slovakia, the most optimistic in eight years. On the other hand, they complain about the lack of qualified labour and think the government should step up its efforts in combating corruption and dishonest practices in procurements, according to a survey carried out by the chambers of commerce in Slovakia.
  • The developer HB Reavis applied for an important investment statute for a €1 billion package of projects in the Mlynské Nivy area, including the new bus station and development within New Lido to speed up the construction.

April 2017

  • The Slovak engineering company AeroMobil unveiled a new model of its flying car at the Top Marques Show car expo in Monaco. The company said it was ready to take pre-orders for the first edition which will be limited to a maximum of 500 units. Its price was set to fall between €1.2 million and €1.5 million, depending on final customer specifications. Before the showcase in Monaco, the inventor of the flying car Štefan Klein had left the project, ascribing his departure as the logical outcome of developments over the last year and a half. The company meanwhile announced that a new investor Patrick Hessel, founder and CEO of the c2i company that produces composition parts for the aviation and automotive industries, is joining the project.
  • The plans of the carmaker Jaguar Land Rover in Slovakia were selected as the best project in the central and eastern European region at an annual investment meeting held in early April in Dubai.
  • The industrial and logistics park Prologis Park Nové Mesto, situated close to Nové Mesto nad Váhom (Trenčín Region), changed hands. Its new owner is Arete Invest, a fund focused on investments in the field of real estate.
  • The Chinese company Yanfeng Automotive Interiors opened a new technological centre to test parts for car interiors in Trenčín.

May 2017

  • The software company Eset obtained the premises of the former military hospital in the locality of Patrónka in western Bratislava, after the Interior Ministry accepted a bid of €26.2 million that the company offered in a late-April auction. Eset plans to build a new R&D campus there.
  • The Japanese company MinebeaMitsumi launched the construction of an engineering and electronic industry plant in Košice. It plans to invest at least €60 million and employ 1,100 people. It will be the company’s most modern and largest producer of mechatronic propulsion systems and electric engines for industrial purposes in Europe.
  • The government approved investment aid of €18.6 million for Trnava-based carmaker PSA Groupe Slovakia, intended for expanding the production of the new B segment model, in the form of tax relief. The company will create 420 new jobs.
  • The European Commission (EC) opened an investigation of whether Slovakia’s plans to provide €125 million to the British carmaker Jaguar Land Rover are in line with the European Union’s rules on regional aid.
  • The Sandberg Capital investment fund and the DanubiaTel company signed a merger to create the largest alternative telecoms operator owned exclusively by Slovaks. The joint operator will offer high-speed internet, TV and voice services for households and data-centre, along with internet, cloud and voice services for corporate clients.
  • The company Ardis announced it will invest €25 million into a new developer project in Zlaté Moravce (Nitra Region). Some 500 people are expected to work there as part of a three-shift operation.

June 2017

  • The Greek company Chipita revealed its plans to build a giant bakery in the village of Kostolné Kračany, near Dunajská Streda (Trnava Region), investing €63 million into the construction of the new plant. More than 600 people may find jobs there.
  • Volkswagen Slovakia said it will produce the body and wheels of the new Lamborghini Urus luxury cars. The vehicle will be assembled in Italy.
  • AeroMobil attracted another private investment. Martin S. Hauge, a well-known European venture capitalist, will invest an undisclosed sum into its development.

July 2017

  • The EC announced that based on its investigation, Slovakia’s decision to grant investment aid worth €49 million to the paper mill Mondi SCP in Ružomberok (Žilina Region) is in line with EU regulations on state aid. The company wants to invest some €310 million into expanding the production line.
  • It was determined that five districts (Gelnica, Bardejov, Medzilaborce, and the Košice surroundings and Snina) should be added to the list of the least developed regions of Slovakia.

August 2017

  • A supplier to the automotive industry, Brose, said it will invest about €50 million into the second construction phase of its Prievidza-based company. Around 500 people are expected to find jobs in the new spaces.
  • South Korean company Seoyon E-Hwa Automotive Slovakia, a supplier to the automotive industry, revealed its plans to open its third plant in the country in Čadca (Žilina Region). It plans to invest €31 million and create 450 new jobs.
  • The developer J&T Real Estate asked for a statute of important investment for a €1.2 billion package of development projects including another phase of Eurovea, New Lido, and new tram tracks to speed up the construction.

September 2017

  • Volkswagen Slovakia kicked off the production of its first Porsche Cayenne vehicles. It is the first Porsche model completely made in Slovakia.
  • The Slovak arm of the Korean carmaker Kia situated near Žilina announced it will launch the production of a new model, the third-generation Kia Cee’d, in 2018. The model will undergo a fundamental modernisation.
  • An agricultural cooperative in Bzovík (Banská Bystrica Region) says it will invest €6 million in construction of one of the biggest dairy farms in central Europe.
  • Czecho-Slovak Arca Capital signed a preliminary purchase contract over acquiring a majority share in the private Austrian bank Wiener Privatbank.
  • Slovakia improved its position in the competitiveness rankings, moving up by six positions in the recent 2017-2018 Global Competitiveness Report published by the World Economic Forum (WEF). The country was ranked 59th.
  • The biggest developer in logistical real estate in Slovakia, Prologis, sold its Park Galanta-Gáň in Slovakia to CNIC Corporation Ltd., owned by the Chinese government. The park is the largest logistics asset, both by area and investment volume, ever sold in the CEE region.
  • The biggest dairy group in Slovakia, Tami, announced the construction of a new cheese-producing plant in Kežmarok (Prešov Region), investmenting a total of €10 million.
  • The Slovak producer of non-alcoholic beverages Water Holding announced the takeover of the former Coca-Cola complex in Lúka (Trenčín Region). Apart from fizzy drinks, it will also move the production of vinegars from Leopoldov to this new site.

October 2017

  • The government approved a hike of the minimum wage in Slovakia from the current €435 to €480 from the beginning of next 2018.
  • Prologis began construction on two logistical facilities at its new Prologis Park Nitra in Slovakia. The expected completion of both buildings is scheduled for the second quarter of 2018.
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