PM Fico Attends Opening of New Hoval Plant, Says Foreign Investment Welcome

Istebne, 26 August (TASR) - Foreign investment is welcome in Slovakia, and every investor can count on assistance from the relevant ministries and specialised state agencies, said Prime Minister Robert Fico (Smer-SD) on Tuesday during the official opening of a new plant for producing heat pumps built by Liechtenstein-based company Hoval in the village of Istebne (Zilina region). The opening ceremony was also attended by other representatives of the Slovak and Liechtenstein governments. "Slovakia is fully oriented towards car manufacturing and supplies for that type of production. When any fluctuation occurs in a country like Germany, Slovakia's economic growth is affected immediately. Diversification into production with high-added value is extremely important for Slovakia," Fico stressed. Built with an investment of around €60 million, the new plant is expected to create 250 new jobs by 2030. The government approved €8 million in tax relief for the company, which aims to produce as many as 32,000 heat pumps annually. jrg/df