Background information

Domestic and foreign entrepreneurs (legal subjects) interested in investment and trade development. The mission of the Slovak Investment and Trade Development Agency is to accelerate the investment, export, and innovative potential of Slovakia with the aim of creating a technology centre attractive to foreign investors, experts, and potential business partners.

Develop export potential in globally competitive industries and territories, support expansion of established companies, and foreign investments, and increase employment in sectors with high added value and in all regions in accordance with the strategy and economic policy of the Government of the Slovak Republic.

Content of measure

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 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.

Use of measure

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.

Foreign direct Investment (FDI) projects managed by SARIO make up a considerable share of total FDI inflow to Slovakia. In 2021, SARIO completed 29 investment projects worth of about €0.5 billion, which will create more than 3,200 jobs despite the decline competitiveness in comparison with foreign countries. As of 31 December 2021, the SARIO agency registered 74 investment projects in progress, in a total volume of almost €17 billion and with the potential to create more than 44,000 new jobs.

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.

Target groups

Workers	Businesses	Citizens
Applies to all workers	Applies to all businesses	Applies to all citizens

Actors and funding

Actors	Funding
National government Local / regional government Public employment service	National funds

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	Unknown	Unknown
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• Unknown
• Main level of involvement: Unknown

Involvement

Unknown

Views and reactions

Unknown

Sources

• 01 January 2001: SARIO webpage (www.sario.sk)
• 01 January 2015: SARIO (2015), Annual reports (Vyrocná sprava): 2013-2015 (www.sario.sk)
• 01 January 2019: SARIO (2019), Annual report (Vyrocná sprava): 2019 (www.sario.sk)
• 19 March 2020: SARIO (2020), Opatrenia COVID-19 (www.sario.sk)
• 03 January 2022: SARIO PROFILE (sario.sk)