BRATISLAVA, June 23, (WEBNOVINY)- Economy Minister Juraj Miskov (SaS) plans to cancel the provision of investment incentives during his operation at the ministry. “I will do my best to cancel the provision of investment incentives already this election term,“ said Miskov at a working meeting with representatives of he American Chamber of Commerce in Slovakia (AmCham) on Thursday.
The minister specified that it is possible to replace the investment assistance for example by quality business environment. “A radical improvement of the business environment can represent a benefit for Slovakia, able to easily replace any investment stimuli,” thinks Miskov whose department is currently working on the Singapore project. After implementing 100 measures the project is to contribute to reducing the red-tape load of businesses in Slovakia.
Miskov thinks that investment incentives are deforming the local business environment. However he admits that on the other hand we perceive a wider context of providing the investment assistance and believes that stimuli serve as a kind of auxiliary wheels which the country will no longer need after some time. He believes that Slovakia will become such attractive country for investors that it will not have to provide any investment stimuli. Miskov also said that he perceives stimuli also as reimbursement for the uncompleted highway network.
Miskov introduced changes to the draft law on provision of investment stimuli to AmCham representatives. Parliament should pass it at the upcoming session. AmCham praised in the amendment the measure halving the sum of minimum investment in individual regions. It also gave high marks to the possibility to procure long-term tangible assets also from linked persons, the division of districts to zones according to the average unemployment rate, the possibility to ask for investment stimuli also for another investment project of the same investor and the possibility to draw relief on income tax for ten years instead of the current five.
AmCham has expressed support to legislative changes that will represent continuation of the trend of transparency and effectiveness of the provision of investment stimuli in Slovakia. “I think that changes to providing investment stimuli are perceived positively a at 80 percent. However there are further proposals that would mean a progress in the amendment according to AmCham,” said Miskov.
SITA