The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Cabinet approves state aid of SKK 1.4bn for six foreign investors.

Cabinet approves state aid of SKK 1.4bn for six foreign investors. The government confirmed its decision to grant SKK 1.4bn of investment aid for six foreign investors, economy minister Lubomir Jahnatek disclosed. The support was approved under a fast procedure in order to be passed before the end of the year and avoid a cumbersome procedure under new EC rules from the beginning of 2007. Around 50% of the investment incentives would be under the form of tax relief. Car component makers Johnston Controls and Visteon International would receive the larger part of the approved aid of SKK 496mn and SKK 415mn respectively. The cabinet also approved in a confidential document the new investment contract with car maker Kia Motors, which planned to expand its engine production in the country. The document is yet to be approved by the EC but reportedly, it included state aid, amounting to 15% of the total investment cost, which was estimated at SKK 8bn. The government also earmarked SKK 142mn for as state aid for preparatory works on the SKK 15-16bn investment of Korean electronics maker Samsung.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree