FOREIGN DIRECT INVESTMENTS IN SLOVAKIA

From its beginning, Slovakia has emerged to become one of the most dynamic countries of Central and Eastern Europe. With its reform of taxes, retirement plans, Labour Code and health care it has set the example for neighboring countries. Slovakia has also become a country where the business climate continues to provide opportunities for world-famous companies both in the manufacturing and higher value-added sectors. American companies like U.S. Steel, Johnson Controls, Dell Computer Corporation, Johns Manville and IBM are among the most important employers in the entire Slovak labor market. Also, the proximity of Russian markets to Slovakia provides growth opportunities for large Russian businesses like Yukos.

The Slovak Investment and Trade Development Agency (SARIO) is the agency established by the Government of the Slovak Republic to provide assistance and communication with all commercial entities interested in establishing their businesses in Slovakia.

Slovak Investment and Trade Development Agency is one of the most proactive investment and trade promotion agencies in Central and Eastern Europe that assists the potential investors with the whole realization of their investment projects, helps Slovak export companies to find the suitable partners for their products and services and coordinates the establishing of industrial parks in Slovakia.

Since January 2002 to December 2004 SARIO successfully completed 94 investment projects, directly creating 24,145 new jobs in the total amount of 4,035 mil. USD.

In 2004 SARIO successfully implemented 47 investment projects in the total amount of 2,164 mil. USD.

These investments will consequently result in the creation of 12,000 direct new jobs and 8,000 indirect new jobs.

In total, SARIO helped to create 20,000 new jobs in 2004.

SARIO has actively participated in projects such as Sky Media, PSA Peugeot Citroen, KIA Motors Corporation, Hyundai Mobis, Johns Manville, Whirlpool, Dell Computer Corporation, Johnson Controls,Visteon, Samsung, Getrag Ford Transmisions and many others.

Slovak Investment and Trade Development Agency (SARIO)