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©yuriy-chaban-dreamstime.com Electronics Production | March 05, 2012

Samsung waits on Slovak incentive package

Samsung Electronics Slovakia has said it won't leave the country despite the governments decision to delay an investment stimulus, reports the Slovak Spectator.
The Slovak Spectator reports that Prime Minister Iveta Radičová's cabinet decided to delay the incentive package on February 22. A new decision will not be made until a new government is formed after parliamentary elections on March 10.

Samsung Electronics Slovakia has asked for tax relief worth 28 Euro million in order to help its plan to invest 90 Euro million to modify its Galanta plant which produces medium and higher class LCD televisions. The plan would help save 950 jobs the company says.

“We have not refused to provide assistance, but we have several question marks,” said Prime Minister Iveta Radičová , as quoted by the SITA newswire (via the Slovak Spectator). “The first question mark is whether the preservation of the existing jobs is in question and the second is whether Samsung will go on in the same way after every investment stimuli, i.e. after exhausting one it will then apply for another and say that if it is not provided it might leave.”

According to the Slovak Spectator, the country's law currently allows for job incentives only in areas of high unemployment. Galanta plant is located in the Trnava Region, where unemployment is lower than average.

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Source: The Slovak Spectator

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