NEWS IN SLOVAKIA
In times of pandemic, Volkswagen is betting on investment and the subsequent creation of new jobs, that is, the German car manufacturer has confirmed the expansion plan of the production plant located near Bratislava, with an investment of around one billion euros. Volkswagen intends to build a new assembly line and a new body shop. Volkswagen Slovakia is one of the largest employers in the country, the largest taxpayer in the state and the largest exporter. In its 29 years of activity, the company has invested more than 4.5 billion euros in Slovakia.
Another novelty has been that the Government approved an amendment to the Labor Code that will allow employees to choose between food vouchers (paper or electronic) or a remuneration in money, if Parliament also gives the green light, it may enter into force in the Spring 2021. The abolition of food vouchers could hurt catering establishments, whose customers at lunchtime are mainly workers who use food vouchers. There is also the risk of a deterioration in the eating habits of workers who, by opting for the economic contribution, would be induced to eat less regularly. In short, it will be up to citizens to choose one option or another.
The Slovak government has launched a state aid package for companies and employees for both the first wave of the pandemic and the second wave. The aim of the aid program is always to provide financial assistance to mitigate the economic impacts of the most restrictive anti-covid measures that have come into force throughout 2020. Concerning the above, it has shown that the Slovak government cares about the operation of companies, the self-employed and the employees themselves, both for foreigners and for Slovaks themselves.
From Slovakia, any foreign investor is encouraged to invest, because there are business and growth opportunities, there is direct aid to investors and also in times of pandemic the government acts with different aid programs.
Our company Real Deal + offers administrative and specialized services to help foreign investors, on bureaucratic procedures in opening a business and continues to advise them with everything related to accounting, taxation and administrative tasks. Do not hesitate to contact us.
