The Slovak Investment and Trade Development Agency (SARIO) is a government-funded allowance organization that works under the supervision of the Ministry of Economy of the Slovak Republic. SARIO’s primary objective is to improve the standard of living of Slovak citizens by increasing employment and reducing regional disparities. Mission: The mission of SARIO is to promote growth and economic development, and improve the quality of life in Slovakia. Vision: SARIO works actively to make the Slovak Republic a country with a well developed economy and an educated population with a high quality of life. In order to achieve these goals, SARIO utilises valuable contacts both in Slovakia and abroad.

1. Newsletter
Slovak Investment and Trade Development Agency
May / 2011
SARIO - the best investment
agency in Eastern Europe
More on page 8
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2. INVESTMENT NEWS
AmericAn investors
Are sAtisfied
A
ccording to H.E. to improve. “We would be
Theodore Sedgwick, happy to see many more
U.S. Ambassador to U.S. firms in Slovakia. We
Slovakia, U.S. companies are convinced that your
in Slovakia are satisfied country has potential for
with quality of the further investments,” he
business environment in told the Slovak minister.
Slovakia which continues
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3. INVESTMENT NEWS
new jobs
T A T
his year, the number pproximately 500 he European Business
of people employed in new jobs should be Center (EBC) Dell in
the industrial park in open in Stara Tura Bratislava is opening
Vrable is expected to rise. in Nove Mesto nad Vahom new jobs as well. The
Most new employees should district. Local company Elster, company offers almost
be hired by the US-based producer of gas meters and 250 jobs in finances, client
company ICU Medical. water gauges plans to build support and servicing.
“Within four or five years, a new assembly hall on its EBC Dell human sources
they plan to hire some 700 premises. Elster said in an manager Silvia Jelenikova
people,” said Vrable Mayor investment plan, which has specified that also university
Tibor Toth, adding, that 100 already been submitted graduates have a great
to 200 will be hired this year. for Environmental Impact chance to succeed, as almost
ICU‘s overall investment Assessment (EIA) that it 100 opened jobs are suitable
in Slovakia will reach wants to expand production for them. The newly opened
approximately 14 million in the near future. The positions should increase
euro by the end of 2011. construction of the hall will the number of the firm‘s
cost approximately EUR 5 employees to over 1,800.
million. The construction
should start at the end
of the summer of this
year, and be completed at
the start of next year.
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4. INVESTMENT NEWS
HONEYWELL WILL Minister Juraj Miskov and The firm presently employs
Environment Minister Jozsef approximately 3,000 people.
ATTRACT OTHERS Nagy. The power plant in Foxconn is Sony‘s successor
T wo more investors Malzenice has installed in the Nitra-Sever Industrial
are heading to the IPZ capacity of 436 MW and can Park and continues to
Presov-Zaborske industrial generate up to 3 billion kWH manufacture LCD televisions
park, Economy Minister of power annually. Germany’s in Sony‘s factory.
Juraj Miskov informed at HN oil and gas utility E.ON
Club discussion forum. The invested in construction of
minister could not disclose the Malzenice power plant
their names, the volume of EUR 400 million, which, NEW INVESTORS
N
investments and expected Chairman of E.ON Slovensko’s ew investors are heading
number of potential new jobs Board of Directors Konrad towards the Juh Industrial
yet. Miskov confirmed that Kreuzer says, is group’s Park (South) in Lucenec.
their arrival was connected biggest investment in Slovakia The company Bionafta is
to the investment of the over the past decade. Thanks planning to generate there
U.S. company Honeywell, to this investment, thirty electricity from renewable
which plans to build a permanent jobs were created. energy sources in cooperation
plant for the production of with the company Milenium
turbochargers for passenger Trading that will launch
cars and trucks worth EUR trial operation in June.
38.3 million in the park.
INCREASE OF Bionafta will invest €4.5
PRODUCTION million and employ some
BY 50% 25 people by late 2012.
STEAM-GAS
POWER PLANT E lectronics company
Foxconn in Nitra pledged
in its investment plan to EXPANSION OF
T he new steam-gas power
plant in Malzenice was put
raise output of LCD television
by 50 percent in 2011 on a
THE AREA
into operation on Monday
in attendance of Economy
simultaneous employment
boost from 3,000 to 3,900. T he production premises
of the joint-stock
company Koval Systems
in Belusa, Puchov district,
should be extended by new
warehouses and related
infrastructure. A total of 114
people could find jobs here.
NEW HALL
T he international operator
and developer of modern
logistics parks in Europe
Pointpark Properties (P3)
launched the construction
of a new production hall in
Trnava for the U.S. firm Audia
Plastics and its subsidiaries
Washington Penn and Uniform
Colour Company. The overall
volume of the investment
represents almost EUR 8.5
million. The hall with an
area of 15,000 square meters
should be completed in
September of this year.
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5. ECONOMY NEWS
rAting confirmed
T
International he affirmation reflects the overall efficiency of public
rating agency recent indications that sector expenditure. The
the new government, stable outlook incorporates
Moody‘s Investors in power since July of 2010, the improving prospects for
Service affirmed intends to adopt measures the Slovakian economy and
the government of to consolidate its fiscal that the favourable external
position. These measures demand environment will
Slovakia‘s A1 foreign primarily consist of reducing continue to be supportive
and local currency the wage expenditure in of output growth.
bond ratings; the 2011 by 10 percent, cutting
waste on procurement of
outlook on these goods and services, freezing
ratings remains stable. investments, and increasing
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6. ECONOMY NEWS
Among the elite
A
Convention on articles of the Convention.
Nuclear Safety review No negative statement was
meeting, which made in the conclusions.
evaluates national reports Compared to other countries
by participating countries, operating nuclear power
concluded that nuclear power stations, Slovakia is at the
plants in Slovakia are among forefront in terms of safety
the world‘s elite in terms and operational indicators,”
of safety. “The conclusions the Nuclear Regulatory
of the review meeting have Authority (UJD) announced
confirmed accordance of after the International
Slovakia‘s legislation and Atomic Energy Agency session
other activities in the field held in April in Vienna.
of nuclear safety with the
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7. ECONOMY NEWS
SLOVAK ECONOMY y/y growth in household DECREASE OF THE
consumers from more than
WILL ACCELERATE 9,000 to almost 25,500, UNEMPLOYMENT
RATE
S lovakia’s economic activity according to the regulator.
will accelerate in 2012 after
a slight slowdown in 2011, the
International Monetary Fund
T he registered
unemployment rate in
Slovakia in April dropped 0.19
(IMF) forecasts in its outlooks percentage points to 12.94
for European economies. percent, Director General of
The GDP growth figures are the Central Office for Labour,
based on the IMF‘s prognosis Social Affairs and Family
released in April, which Ivan Juras told journalists
stipulates that Slovakia’s GDP on Thursday. Juras ascribes
will grow 3.8 % this year and the modest decline to an
4.2 % next year. The country increase in seasonal works,
will thus beat the euro zone‘s stronger demand to register
median projected at 1.6 % for self-employment and lower
in 2011 and 1.8 % in 2012. number of voluntarily jobless
persons caused by higher
health insurance premium
MOBILE rates, introduced in early 2011.
Rising economic activity, too,
COMMUNICATION is an important factor that
IS INCREASING reduced the jobless rate.
P enetration of mobile
telephony services in
Slovakia reached 111.6 % as EXIMABANKA‘S
of late March 2011, which
was a y/y increase of nearly
EXPECTATIONS
5 percentage points. As of
March 30, three mobile
telephony operators Orange
S lovakia’s export activities
are expected to grow in the
coming period and, therefore,
Slovensko, Slovak Telekom Eximbanka anticipates growth
(T–Mobile) and Telefonica in its sales. To bolster the
Slovakia (O2) recorded 6.026 indicator, the institution
million active SIM cards plans to intensify its activities
(up 269,000 cards y/y). and marketing of its sales
divisions or to reassess its
service portfolio. Mario
Schrenkel, Eximbanka director
THE ALTERNATIVE general, told that the bank
OPTIONS ARE plans to bolster support
of Slovakia’s exports. The
GROWING increase should range between
A lternative power suppliers
are winning an increasing
number of new clients every
the GDP growth and exports
improvement in the given
year. The value of supported
year. The Regulatory Office exports is said to increase
for Network Industries (URSO) from last year‘s EUR 3.2 billion
reported that nearly 17,200 to EUR 3.38 billion in 2011
households and over 4,600 and EUR 5.51 billion in 2015.
other customers changed
their supplier last year.
A year ago, almost 7,700
homes and 3,000 other
consumers decided to switch
supplier, which means that
alternative suppliers posted
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8. SARIO NEWS
THE OFFICIAL PUBLICATION OF THE INDUSTRIAL ASSET MANAGEMENT COUNCIL
May 2011 www.siteselection.com
sArio - the best investment
Agency in eAstern europe
SARIO received 1st place in the ranking “Global Best to Invest 2010”
in the region of Eastern Europe by Site Selection magazine.
S
ite Selection magazine projects announced, capital which I would like to thank
has published the invested and jobs created in them all. In the same time
ranking “Global Best to 1102 yaM total and per capita. Regions
moc.noitcelesetis.www it is a motivation for us to
Invest” for the third time. were scored according achieve higher effectivity
This ranking is based on an to their performance in and quality in FDI attraction
over 50 years long tradition these categories, and the process and last but not
of the new investment EHT
corresponding investment
LAICIFFO NOITACILBUP FO EHT LAIRTSUDNI TESSA TNEMEGANAM
least, it also the recognition
LICNUOC
projects New Plant Database promotion agencies were of the effort of the Ministry
of Conway Data Inc. This recognized based on overall of Economy of the SR and
ranking covered six regions: performance. Róbert the Slovak Government
Eastern Europe, Western Šimončič, SARIO CEO in this to constantly improve the
Europe, Asia – Pacific, Africa context said: “I consider the business environment.”
and the Middle East, and first place of SARIO agency
Latin America. The “Global in this ranking to be most For more information on the ranking
Best to Invest” rankings of all the recognition of “Global Best to Invest“ go to: http://
www.siteselection.com/issues/2011/
were evaluated according to its employees´ work, for may/2010-global-best-to-invest.cfm
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9. SARIO NEWS
grAnd opening celebrAtion of
the new roof systems fActory
T
he Grand Opening 65 people, planning to opening ceremony of the
Celebration of the increase this number to plant in Krakovany was also
Dutch company Inalfa 120. During his speech, he attended by Marcel Schabos,
Roof Systems in Krakovany also expressed his thanks CEO of Inalfa Roof Systems
(district Piešťany), a new for a very good cooperation Group, that was founded
plant for the manufacturing with regional and municipal in 1946 in Venray, the
of automobile roof systems administration bodies and a Netherlands and in almost
was attended by H.E. Daphne friendly approach and help 65 years of its existence, it
Bergsma, the Ambassador of of SARIO. Róbert Šimočič, has been profiled as one of
the Netherlands to Slovakia, the Chief Executive Officer the largest suppliers of roof
Robert Šimončič, the CEO of of SARIO said: „SARIO systems for the automotive
the Slovak Investment and agency is pleased to have a industry in the world.
Trade Development Agency chance to cooperate with Currently, this company
(SARIO), Remo Cicutto, Inalfa Roof Systems at the operates 12 production
the Mayor of Piešťany and process of implementing plants and 3-technological
Vladimir Mihálik, the Mayor the investment of the global development centers in
of Krakovany. According to automotive supplier, since Europe, Asia and America.
Jim Bonebright, the Vice the company operates in a
President of Inalfa Roof key sector and is significant
Systems Slovakia s.r.o., the for the development of the
company currently employs entire Slovak economy.“ The
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10. SARIO NEWS
production expAnsion, new jobs
T
he representatives of company. Iveta Radičová, satisfy growing demand,
SARIO took part at the the Prime Minister of the SR the company has decided
opening ceremony of in her speech she appraised to expand its production
Belgian company Bekaert job creation and the fact platform in Sladkovičovo
plant expansion. This that Bekaert stresses the by production line of semi
company is one of the largest safety at the workplace and products and create 100 jobs.
producers of steel wire employee social programs. Currently Bekaert company
and tire cords for cars and Moreover this company employs in its 2 production
truck tires. Iveta Radičová, may bring to our economy facilities in Slovakia
Prime Minister of the Slovak higher added value in the (Hlohovec a Sládkovičovo)
Republic participated at form of new technologies, over 2,100 people.
this event together with research and development.
Kristián Takáč, the Deputy Bekaert company has been
Minister of Economy of the established in Slovakia for
SR, Anton Szabó, the Mayor over 10 years and in the
of Sladkovičovo and the top region it has developed wide
management of Bekaert customer base. In order to
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11. SARIO NEWS
sArio presentAtion for
indiAn delegAtion
A
ndrea Gulová, the SR and Juraj Miškov, During the discussion the
Deputy CEO of SARIO the Minister of Economy Indian guests were interested
presented Slovakia of the SR in India. Andrea in the conditions of entering
as the ideal business and Gulová in her presentation Slovak military industry, air
investment destination to the introduced current indicators and water transportation
representatives of National of Slovak economy – the best as well as our experience
Defense College (NDC) from conditions in the CEE region with transition to Euro
India during their official from the point of view of and Slovak bank system.
visit to the Ministry of the investment environment
Defense of the SR. NDC was quality confirmed by several
represented by high ranking renowned institutions,
military representatives of forecasted one of the
the Indian army who visited highest growths in the EU,
Slovakia following the recent transparent tax system,
visit of Ľubormír Galko, membership in Euro zone
the Minister of Defense of and high labor productivity.
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12. E-mail: marketing@sario.sk
Web: www.sario.sk
This Newsletter is not in any way legally binding. SARIO does not bear any responsibility for damage
caused by inappropriate or incorrect interpretation of information hereby stated.
Source of the pictures: archive SARIO, stock.XCHNG, istockphoto
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