Government to Discuss Investment Incentives and Crypto Assets

Bratislava, May 2 (TASR) - The state should support investments in the development of electromobility in Trnava and Zilina regions in the next few years with an amount of almost €27 million, with state investment aid to be given to Meta System Slovakia, ZF Slovakia and Wia Slovakia, according to documents scheduled to be discussed by the government on Thursday. Robert Fico's (Smer-SD) cabinet will also deal with the regulation of the crypto-assets market, support for measures in the viticulture and wine-making sector and the restoration of a Slovak National Uprising (SNP) monument near the village of Uhrovec in Trencin region. The market and services related to crypto assets should be better regulated, with Slovakia's central bank (NBS) taking up the role of the supervisory authority for this area, according to a draft law on certain obligations and authorisations in the field of crypto assets to be discussed by the government. Among the three companies for which the cabinet is to discuss support, two are based in Trnava. ZF Slovakia, a manufacturer of automotive components, plans to diversify production at its Trnava plant and launch production of 400- and 800-volt electric motors. The company could receive a state investment incentive of €11.25 million via corporate-tax relief for a project worth more than €132 million. Similarly, another Trnava-based company, Meta System Slovakia, could receive a state incentive to support its investment. It plans to invest more than €126 million in a new plant for on-board chargers for electric vehicles. If the government approves the incentive, the company will receive €9.25 million, also in the form of tax relief. The third company to be discussed by the government is Korea's Wia Slovakia. The company plans to set up a plant for producing drive shafts for electric vehicles in Dolny Hricov near Zilina. The Economy Ministry has proposed state investment aid of €6.36 million for this company, also via tax relief. am/df