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Slovak Investment News from September 2016

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Economy News
ECONOMY NEWS

THE STEEP GROWTH OF INVESTMENT IN SLOVAKIA
The Slovak Investment and Trade Development Agency (SARIO), together with the Ministry of Economy reported a very successful first half of this year. They agree that the volume of new investment projects in Slovakia grew almost by 188% year-on-year. In the first six months of this year, companies announced investments worth half a billion euros. These are not only new firms but also expansion projecs.

WE HAVE ONE OF THE MOST INNOVATIVE REGIONS AMONG NEW EU COUNTRIES
Bratislava and its surroundings are along with western Slovenia and Budapest the most innovative regions from among the new European Union countries. Slovakia’s overall results are average, showed an innovation analysis in the European Union and its member states that was released by the European Commission.

OVERQUALIFIED EMPLOYEES
A fifth is overqualified - an OECD survey showed that this is the number of employees in Slovakia, who work in positions that require lower education than they achieved. This state is probably caused by a dramatic increase in university degrees over the past twenty years. The labor market is simply not fast enough to respond.

REAL ESTATE PRICE GROWTH
Average apartment prices are growing. Price increase has had the most significant impact on one-room apartments. New buildings on the market are pushing up the prices on the market. Apartment prices have been affected by their current representation in the offer. With the growing number of apartments in new buildings, more expensive than the old apartments, increase in the average price in the location may increase.

NINE IN TEN SLOVAKS LIVE IN THEIR OWN PLACE
Slovaks are not used to living in a rented place. Nine in ten people live in one’s own place. That places Slovakia to top positions in the European Union. Currently very low loans encourage private ownership.

Firms and Finances
FIRMS & FINANCES

PARK LUZIANKY WELCOMES NEW SPANISH INVESTOR
A Spanish investor is heading to Slovakia planning to invest 100 million euros. The company Gestamp wants to erect a new factory in Luzianky that will make extruded steel and aluminum parts for passenger cars. The investment would open 229 new jobs.

GERMAN COMPANY BRINGING 500 JOBS TO PRESOV
German company Etilog GmbH plans to build its factory in Presov. As many as 500 people should work there in the final phase. The firm has already started training the first staffers.

NEW WOOD PROCESSING PLANT IN SOUTHERN SLOVAKIA
A new wood processing plant is likely to be built in the southern Slovak town of Dunajska Streda. The company Woodprof is behind the project. Over 40 jobs should be created.

SEDITA IS EXPANDING ITS PRODUCTION CAPACITY
The Slovak producer of sweets and durable pastry Sedita prepares a significant expansion in its production. The investment sum will reach roughly 75 million euros. The investment should give work to tens of people.

FAURECIA WILL CREATE 1, 300 JOBS IN LOZORNO
As many as 1,300 jobs will be created in the industrial park in Lozorno. The jobs will be created by French company Faurecia which will produce car seats. The operation is planned to be launched as of January of next year.

LEYNARD EUROPE EXPANDS IN PRESOV
The company Leyard Europe is going to expand its production capacity in Presov industrial park Zaborske. It therefore intends to buy more land in the park from the city. The largest producer of giant displays in the world insures its position of the market leader. The company has its seat in the rented premises opposite to the sports hall in Presov. Last year it acquired land in the industrial park from the Presov’s town hall for 290,000 euros. The land is in the neighborhood of the American supplier for automotive Honeywell. It will complete own premises on this land until the end of this year.

PRODUCTION OF KIA MOTORS SLOVAKIA GREW 4.7% IN THE FIRST HALF OF 2016
The carmaker Kia Motors Slovakia produced 177,900 cars in the first half of 2016, which means a 4.7% y/y growth in comparison with the first half of 2015. The carmaker increased its production of engines by more than 11 percent when it made more than 318,000 of them in the first six months of the year.

SYRAREN BEL SLOVENSKO EXPANDS TECHNOLOGY WITH THE STATE AID SUPPORT
The Michalovce based company Syraren Bel Slovensko approved the support of 450,000 euros for expansion of technology and 950,000 euros as an allowance on taxes still in March. The new facility has been working full speed nowadays. The investment has to be perceived for five years, the same as 50 jobs, which they created. They increased the production of natural cheese from more than 5,000 tons to over 8,000 tons. They want to support mainly the local producers.

LOGISTICS PARK GROWS IN NITRA
On the heels of the announcement of the automaker Jaguar Land Rover investment in Slovakia, a logistics park will be built near Nitra where 3,810 people will work when all production halls are fully occupied. The size of the investment is approximately 30 million euros. The logistics park will consist of three halls. They will serve for receiving, storage, and redistribution of components for production in the Jaguar Land Rover factory and for light production in the industrial zone.

SLOVAKTUAL PLANS LARGE INVESTMENT NEAR PRIEVIDZA
One of the biggest Slovak manufacturers of plastic and aluminum windows is preparing a large investment in the industrial area near Prievidza. Company Slovaktual will build a new production hall. In the new plant the company will produce insulating glass for its windows. This investment will give work to 60 people in the region. It will be already the seventh production hall of Slovaktual in the district of Prievidza. The company wants to process there 1.7 million square meters of glass.

NEW HALLS WILL BE BUILT NEXT TO VOLKSWAGEN SLOVAKIA PLANT
Volkswagen Slovakia manufacturing plant located in Bratislava district of Devinska Nova Ves will have new neighbors. Three new halls for storage, sub-assembling and light assembling of car components will be built in its neighborhood. The project was proposed by the joint-stock refuse systems company Slovensky Odpadovy Priemysel.

ENERGYCO WILL COME TO EASTERN SLOVAKIA
The building permits for entry of a new investor, the engineering company Energyco, in the village of Velka Ida in the district Kosice surroundings are being processed in these days. The company Energyco should start its business by the end of the year and create roughly 150 – 200 jobs.

SARIO News
SARIO NEWS

THE STEEP GROWTH OF INVESTMENT GROWTH IN SLOVAKIA IN THE FIRST HALF OF 2016
The Slovak Investment and Trade Development Agency (SARIO) assisted at 19 successful investment projects in the first half of 2016. It is an increase by 36 percent y/y. These projects should bring more than 2,000 direct jobs and thousands of other indirect jobs. The planned total investment from these projects reaches 500 million euros, which means a growth by 188% y/y. According to the SARIO, a significant portion of the investments is heading to the regions with higher unemployment rate, including the regions of Presov, Kosice and Banska Bystrica.

OPPORTUNITIES FOR SLOVAK PRODUCERS OF PACKAGING MATERIALS AND PROVIDERS OF WATER MANAGEMENT SOLUTIONS IN CUBA AND CENTRAL ASIA
On July 28, 2016 the Slovak Investment and Trade Development Agency (SARIO) mediated an informational working meeting of 9 Slovak companies, mainly from the water management and packaging production sectors, with the representatives of the United Nations Industrial Development Organization (UNIDO). They discussed different possibilities of support of projects in Cuba and Central Asia through various programs of this international organization. Read more

CEE BENEFITS & MOTIVATION SURVEY
CPL JOBS conducted CEE Benefits & Motivation Survey where they asked passive and active candidates living in Slovakia, the Czech Republic, Poland and Hungary from all rungs of the career ladder, a series of questions around benefits. Over 5000 individuals took part. The survey  gained a deeper insight into what employees look for from an employer and may offer insights on how to capture the attention of the candidates they need, enhance employee happiness and compare current benefit structures with real candidate expectations. Read more

Events
UPCOMING EVENTS

11 - 12. October 2016
Central & Eastern European Automotive Forum

3. NOVEMBER 2016
The Slovak Matchmaking Fair 2016

Source: SARIO

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