EMCC European Monitoring Centre on Change

SARIO (Slovak Investments and Trade Development Agency)

Slovakia
Phase: Anticipation
Type:
  • Access to finance
  • response to COVID-19
  • Support for digitalisation
  • Advice
  • Attracting investors
  • Fostering innovation
  • Matching/Networking
  • Support of companies' growth
  • Support of internationalisation
  • Support of SMEs
  • Territorial coordination
Sidst ændret: 03 August, 2021
Lokalt navn:

Slovenská agentúra pre rozvoj investícií a obchodu

Engelsk navn:

SARIO (Slovak Investments and Trade Development Agency)

Coverage/Eligibility

Domestic and foreign entrepreneurs (legal subjects) interested in investment and trade development.

Main characteristics

SARIO's mission is to design and use all kinds of stimuli to increase the influx of foreign investment while promoting Slovak companies in their effort to transform into high-performance subjects successful in the globalised world market. SARIO manages investment projects, and provides assistance with establishing joint ventures. It usually provides services to well-known foreign investors, potential new investors, domestic SMEs, large companies and start-ups and spin-offs. Negotiations usually take place between SARIO and foreign or domestic investors, regarding existing conditions such as the unemployment rate, the available labour force and infrastructure in the region, the number of planned new jobs, and, in particular, preconditions for receiving state aid to relevant investments. Conditions for the provision of investment aid used to be specified by the Ministry of Economy, according to the actual situation in the economy and respective regions. Presently, eligible projects should cover industrial production, technology centres,  centres for strategic services and tourism. SARIO also provides information on European funds available for entrepreneurs via respective Operational programmes.

Minimum values of the investment in relation to specified regions/zones and the maximum share of investment aid are specified as well. SARIO is also involved in identifying and assisting companies to take advantage of market opportunities, providing governmental support to businesses and diplomatic support in international trade relations. In 2019, it also provided support to Slovak companies active in Industry 4.0. Since April 2020, SARIO provides special information service for entrepreuers about available measures adopted by the government in relation to the COVID-19 crisis, including particular support to SMEs. For instance, access to more convenient bank loans. 

Funding

  • National funds

Involved actors

National government
Funding
Regional/local government
In some cases, they used to be involved in implementation of concrete investment projects, for example selling the land to investors establishing their business units there.
Public employment services
In some cases; for example when retraining of unemployed is essential.
Employer or employee organisations
In some brownfield investments.
Anden
In some cases; for instance, Eximbanka in projects supporting export.

Effectiveness

Foreign direct Investment (FDI) projects managed by SARIO make up a considerable share of total FDI inflow to Slovakia. From 2002 to 2015, SARIO successfully completed 439 investment projects, of which around 70% were implemented without any state investment aid. Through these projects, the country gained €10.64 billion from foreign investments resulting in the creation of 87,000 direct jobs. In 2019, SARIO completed 39 investment projects worth of about €286 million and creating potentially 4,010 new jobs in Slovakia. Among these projects were 21 with higher added value, e.g. R&D, shared services centres. SARIO carries out numerous activities aimed at engaging Slovak companies in the supply chains of major investors. SARIO also supports Slovak companies in the international market and promotes B2B cooperation focused on increasing the success of Slovak export. In 2019, SARIO organised 69 related events in three continents. The agency is at the beginning or in the process of the establishment of many important joint ventures or commercial foreign trade contracts of Slovak companies.

Strengths

Strengths include promotion of Slovakia's competitive investment and business-friendly environment, processing of potential investment projects of domestic and foreign investors and aftercare services offered to established investors and companies. SARIO is also connecting companies with potential business partners (B2B events including provision of information; workshops; conclusion of contracts), provides connection with key institutions, state entities and municipalities, the database of available real estate and industrial parks and, most importantly, SARIO is offering all its services free of charge.

The international reputation of SARIO's services supporting investment was awarded Fastest-growing Investment Promotion Agency in Europe in 2003 and Best European Investment Promotion Agency in High-Tech Award at the World Investment Conference in La Baule, France 2007. Global Best to Invest, the best investment agency in the region of Eastern Europe, Site Selection magazine, in 2010, 2012 and 2013. Investment Award 2017, the best investment agency in the region of Eastern and Central Europe and Turkey.

Weaknesses

No information available.

Eksempler

Volkswagen, KIA, PSA PEUGEOT-CITROEN Slovakia, Jaguar Land Rover, Amazon, Johnson Controls, IBM, Embraco, Samsung, Honeywell, Siemens, Muehlbauer, Porsche and many others.
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