Underdeveloped districts to benefit from state aid at better conditions

Underdeveloped districts in Slovakia are to receive state investment assistance under more advantageous conditions, according to the Slovak Investment and Trade Development Agency (SARIO). Investors in industrial production and tourism will soon see the minimum threshold for an investment eligible for state aid being slashed to €200,000. At least half of it will need to be covered from the investor's basic capital. Relaxed conditions will also apply to investments into new equipment in production and technology. They will be required to create at least five jobs in tourism or ten jobs in production. The new rules apply to 12 regions from Central and Eastern Slovakia with unemployment rates of over 18%. The list, available on the website of the Labour Office will be updated on a quarterly basis.