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CORRECTION: $Agency Presents Public Call for Promotion of FDI$

Ljubljana, 20 May (STA) - Please note that individual payments by the FDI promotion agency JAPTI will not be capped at EUR 600,000 as was stated in the final paragraph of Thursday's copy. Instead, the maximum contribution will be calculated for each individual application.

Agency Presents Public Call for Promotion of FDI

The Public Agency for Entrepreneurship and Foreign Investments (JAPTI) has drafted a public call for the promotion of foreign direct investments (FDI) in 2010 and 2011. Individual projects eligible for state aid will be capped at EUR 50m.

According to the head of JAPTI's growth and development programme, Simona Novak, Slovenia wants to attract investment projects with added value and create 500 jobs annually within three years following the investment period.

The call is intended for investments in manufacturing, the service sector, and research and development (R&D) projects, Novak said at a press conference on Thursday in Ljubljana.

She added that eligible for funds would be Slovenian companies in which a foreign investor has at least a 10% stake.

Companies have to conclude the investments within three years following the signing of the contract, and create new jobs in three years at the latest after the investments kick in.

Manufacturing companies will be able to apply if they invest at least EUR 1m in their projects, and have to generate at least 25 new jobs.

Services and R&D companies will have to invest at least EUR 500,000 and create at least ten and five new jobs, respectively, according to Novak.

She added that large companies will have to kee the new jobs within their regions for at least five years, while SMEs have to keep new jobs for at least three years.

A total of EUR 14.5m has been earmarked in the national budget for the project, of which EUR 6m will be provided this year. The maximum incentive a company can get from the state will be calculated for each application individually, Novak said.

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