Top 10 business events in 2018

Check out the selection of the most important events that happened in Slovakia’s business sector during the past year.

The new ammonia production plant at Duslo ŠaľaThe new ammonia production plant at Duslo Šaľa(Source: TASR )

1. Companies asking for state investment stimuli will no longer have to create new jobs in production, stemming from the law on regional investment aid adopted by parliament.

Read also:New jobs now not a condition to receiving state aid

2. Slovakia’s government approved the EU-Canada Comprehensive Economic and Trade Agreement (CETA). The agreement facilitates the trading of goods and services by removing custom duties and trade barriers.

Read also:Cabinet okays trade agreement with Canada

3. The favourable pro-growth sentiment among foreign investors in Slovakia persists. Almost half of them plan to expand and look for new employees while the biggest obstacles hampering their businesses in Slovakia remain the shortage of qualified labour and corruption, as stems from the regular business survey carried out by foreign chambers of commerce.

Read also:Investors warn about worsened image of Slovakia

4. Developer HB Reavis kicked off the reconstruction of Bratislava’s main bus station on Mlynské Nivy Street, with a cost estimated at €345 million.

Read also:Construction of new bus station in Bratislava follows plan

5. US real estate investment fund Heitman sold the Aupark Tower office building in Bratislava to the real estate fund of the investment bank Wood & Company. The consultancy company CBRE, which mediated the deal, described the transaction as the biggest on the Slovak office real-estate market in seven years.

Read also:Slovak office real-estate market reports the biggest deal for seven years

6. One Fashion Outlet 1 near the village of Voderady (Trnava Region), the biggest outlet centre in Slovakia, filed for bankruptcy following several financial problems.

Read also:The biggest outlet centre in Slovakia is going bankrupt

7. Duslo Šaľa officially launched a new ammonia production plant, with the investment in the factory, called Ammonia 4, amounting to €310 million. The company received a €58 million tax incentive.

Read also:Agrofert's Duslo Šaľa launches new ammonia production plant with a price tag of €310 million

8. The construction of a gas pipeline link between Slovakia and Poland was ceremonially launched at the gas transport hub in Veľké Kapušany (Košice Region). Built by Slovakia’s Eustream and Poland’s Gaz-System, the 160-kilometre-long gas interconnection, 103 kilometres of which will be in Slovakia, will cost €142 million.

Read also:Construction of Slovak-Polish gas pipeline link launched

9. Slovakia worsened its position in the Global Competitiveness Report 2018 published by the World Economic Forum. It ranked 41st of 140 countries.

Read also:Slovakia drops in competitiveness

10. Carmaker Jaguar Land Rover officially opened its Nitra-based plant.

Read also:The carmaker Jaguar Land Rover ceremonially opens its €1.4 billion brand new facility in Slovakia

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