Slovakia may win investment projects worth €300 mln

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Slovakia may this year win foreign-investment projects worth as much as €300 million ($390 million), the government agency for promotion of foreign investment said. The agency known as Sario has “in the pipeline” five projects that may create about 3,000 jobs, Director Robert Simoncic told journalists Friday in Bratislava. To fuel the export-dependent economy, the administration of Robert Fico seeks to lure investors with state aid, euro-region membership and labor costs lower than in the west. Carmakers such as Volkswagen AG and their suppliers have made Slovakia a hub for the car industry, helping support the economy as domestic demand is depressed by unemployment. The five projects are from companies in the automotive, health-care, information-technology and leather industries, Simoncic said.

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