US IT giant IBM considering Slovakia for new investment.

By bne IntelliNews August 27, 2010
US IT group IBM shortlisted Slovakia as one of the possible locations of an investment project in the CEE region, the economy ministry disclosed. It pointed out that the foreign investor had not revealed its specific plans but was just researching the conditions in the country. The company's priorities included favourable business environment with less administrative obstacles as well as a flexible labour market. Possible major locations for the project within the country included Zilina and Kosice with 200 new job positions expected to be created during the first year. Total new employment as a result of the project would increase to 3,000 new jobs over the following three years. Slovakia is one of the five countries in the region included in IBM's shortlist. In related news, the ministry announced that Belgian engineering company LVD S3 decided to invest EUR 6.9mn in the construction of a new plant in the country. The plant would be based in Tornala in the southern part of Slovakia, close to the border with Hungary and would focus on the construction of metal-processing machinery. It should open up 250 new jobs. Construction is scheduled to start in Q3 and commercial operations are scheduled for launch in July 2012. The total production capacity is to be reached in 2013. LVD applied for EUR 3.4mn of state investment aid in the form of support for long-term assets purchases, subsidies for job creation and tax relief. The application should be discussed by the cabinet on Aug 27.

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