Business News

Govt deliberating on subsidies for several investments

Ljubljana, 13 July (STA) - The government is currently examining several requests for subsidies by domestic and foreign investors worth about EUR 30 million. "This shows that the investment cycle is ongoing," Economy Ministry State Secretary Aleš Cantarutti told the STA.

Three requests were submitted under old legislation, which made only foreign investors eligible for subsidies, and four under new legislation that puts domestic and foreign investors on equal footing.

Cantarutti mentioned the planned sawmill by Scottish company BSW Timber, and the Turkish company Yildiz Entegre Adria, which wants to invest in a defunct chipboard manufacturer.

The biggest request currently under consideration is by Novo Mesto-based automotive supplier TPV, which wants to expand production in Brežice in an EUR 80 million project.

The ministry is still waiting for the formal request of Hisense, the Chinese owner of household appliance maker Gorenje, which wants to build a TV factory, according to Cantarutti.

The budget for 2020 includes a EUR 10 million line item for subsidies under the act on the promotion of investments, but extra funding is also available for investments that promote balanced regional development.

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