Economy ministry prepares new law on investment stimuli

Slovakia will have a new law on providing investment stimuli, wrote SITA last week. The law on regional investment help has been prepared by the Economy Ministry. "Thus, we are reacting to modern trends such as global development, automatisation, robotisation, building supply chains and increased added value for the industry, which is related to these phenomena. The new law should allow more operative reactions to changes on the labour market and options for investors," said Economy Minister Peter Žiga last week. As he also said, small and middle-sized businesses should have an advantage, investments in low-employment regions should be prioritized and in general, projects related to a company's R&D should be supported. According to Žiga, a draft bill could be subject to approval in Parliament this September.