RKN Global said on Saturday it would invest 89 million euros (68.8 million pounds) in Slovakia, creating over 1,200 jobs in a new plant making secure IDs and e-cards and screening technologies.
RKN Global, based in Dubai, manufactures a range of security and screening products.
The deal signed by Slovak Prime Minister Robert Fico and RKN Global managing director Marjam Lindsbro on Saturday will provide new jobs in a region where unemployment is nearly 15 percent, above the national average of 10.6 percent.
Fico’s leftist Smer party is well ahead in the polls before a March 5 election and has been keen to show it can cut the jobless rate below 10 percent.
The government, which has sought to add higher value-added investors to go along with the car and electronics plants that fuel Slovakia’s economy, will approve cash and tax incentives of up to 18 million euros at its March 2 session, Fico said.
