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SLOVAKIA Ideal Investment & Business Destination Norwegian – Slovak Business Forum Oslo, Norway 10.6.2010 Norsk - Tysk Handelskammer Norsk - Tysk Handelskammer.

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Presentation on theme: "SLOVAKIA Ideal Investment & Business Destination Norwegian – Slovak Business Forum Oslo, Norway 10.6.2010 Norsk - Tysk Handelskammer Norsk - Tysk Handelskammer."— Presentation transcript:

1 SLOVAKIA Ideal Investment & Business Destination Norwegian – Slovak Business Forum Oslo, Norway Norsk - Tysk Handelskammer Norsk - Tysk Handelskammer

2 Slovakia – Heart of Europe I Establishment: 1st January 1993 I Official name: Slovak Republic I Area (km2): 49,035 I Population: 5,379,000 I Capital: Bratislava I Member of: OECD, WTO, NATO, EU, Schengen area I Official currency: EURO I Official Language: Slovak I Government: Parliamentary democracy I Election term: 4 years I Neighbours: Austria, Czech Republic, Hungary, Poland, Ukraine I Time zone: GMT + 1hour Strategic location with great export potential

3 Journey of Slovakia Independent Slovakia member of OECD European Union member member of NATO Fully member Schengen zone EURO Zone Flat tax 19% %

4 Macroeconomic Overview A1 positive outlook A+ stable outlook A positive outlook 2008 Real GDP growth 6,4 % Labour productivity growth5,8 % Real wages growth3,3% HICP Inflation3,9 % Unemployment 9,6% Average monthly salary (€) ,21 % GDP growth (2009) productivity 1,6% 744 EUR 12,5% 1, 1% 2009 Monthly salary (2009) Real wages growth (4 rd Q 2009) Unemployment (April. 2010) Inflation (JAN. 2010)

5 Source: World Bank Group – Doing Business Report 2010 Employing workers Paying taxes Enforcing contracts Protecting investors Closing business Construction permits Methodology The Doing Business project provides objective measures of business regulations and their enforcement across 183 economies and selected cities at the subnational and regional level. Starting a business Trading across borders 1st rank in CEE in DOING BUSINESS 2010 ! OECD: 3,6% Growth of GDP in 2010 in Slovakia

6 Member of Eurozone € 1st January 2009 Slovakia joined the EURO Zone EURO IMPLEMENTATION IMPACT: Limitation of Foreign Exchange Risk Lowering Transaction Costs Growth in Foreign Trade Increase financial stability

7 Simple and Fair taxes I Dividend tax I Inheritance and Gift Tax I Real Estate Transfer Tax I No limits on the Repatriation of profits 19% flat tax rate I Corporate & Personal Income Tax I Value Added Tax

8 Low labour cost vs high labour productivity Labour productivity 723 € Slovakia 942 € Czech Republic 843 € Poland 792 € Hungary Data for 2008

9 Education in Slovakia Bratislava university region Western Slovakia university region Eastern Slovakia university region Central Slovakia university region Number of universities: 11 Total Number of Students in 08/09: Graduates in 08/09:

10 Infrastructure Vienna (A) Bratislava Bologna Basel Split Vienna Prague Bratislava Poprad Alt major European cities All major European & World cities Prague Cargo Brno (CZ) 120 km Krakow (PL) 180 km

11 SARIO Doing business with us SLOVAK INVESTMENT AND TRADE DEVELOPMENT AGENCY - SARIO

12 SARIO – The right place for your business THE MISSION OF SARIO I To present the business environment in Slovakia I To maximize the inflow of foreign direct investments to Slovakia I To support foreign trade via match-making, as well as via subcontracting activities I Administration of structural funds Founded in 2002 by the Slovak government and put under the direction of the Slovak Ministry of Economy.

13 SARIO – Foreign Trade Section - services  Expositions and trade fairs – Participation in expositions and trade fairs to promote Slovakia and Slovak entrepreneurs and agencies  Organization of business missions and forums abroad and foreign missions  Assistance to SME related to their promotion abroad at exhibitions, workshops  Help and support of Joint Venture projects  Subcontracting activities  On-line database - Project of Slovak exporters and their update offerings – matchmaking services  SIC - SARIO Information centre  Foreign cooperation – Specialists on territories, propagation of slovak products, market analysis, contacts and information sharing SERVICES ARE FREE OF CHARGE

14 SARIO FDI Section  Assistance in implementing investment projects  Analyses of labor market, taxation,legislation, macroeconomics etc.  Advice on issues related to starting a business  Sectorial and regional analyses  Selection and recommendation on ideal location and suitable real estate  Facilitation of communication with national and local authorities, self- government bodies  Consultancy in the area of state aid and assistance with applications for investment incentives  Aftercare services for foreigned investors already operating in the Slovak Republic  Assistance in finding Slovak partners for joint-venture or suppliers SERVICES ARE FREE OF CHARGE SARIO FDI Section - services

15 SARIO STRATEGIC PROJECTS Company name Country of origin Jobs Investment s mil EUR Location SONY Japan150076,3Nitra SAMSUNG South K o rea Galanta SAMSUNG El. LCD South K o rea Voderady KIA Hyundai South K o rea Žilina Peugeot-Citroen France Trnava DELL USA Bratislava Johns Manville Slovakia USA Trnava Whirpool USA Poprad GFT Germany/US A Kechnec AUO Taiwan ,3Trenčín ICU Medical USA70014Vráble Source: SARIO 2010 Creation of jobs in Creation of jobs in

16 Top 5 investors in Slovakia by sector I 1. Automotive I 2. Machinery I 3. Electrotechnical I 4. Chemical I 5. IT services Source: SARIO, National Bank of Slovakia, 2010

17 SIC – SARIO INFORMATION CENTRE At SIC you can find following: Good suppliers - Mechanics - Electro mechanics - Electronics - Plastic and rubber - Wood and furniture - Textile and clothing Investment partners Information about international tenders Partners for joint ventures New subcontractors Slovak subcontracting companies operate in the following industries:

18 Automotive database for VW Slovakia, PSA PEUGEOT CITROEN, KIA and possible investors JAC Motors - China, REVA – India, FIAT – Italy = Electric Cars Goal: I Creation of the Slovak suppliers database in the automotive industry Vision: I Reinforce Research and Development in the field of automotive industry 105 Cars per 1000 Habitants in 2008

19 AUTOMOTIVE - TRNAVAELECTROTECHNICAL -GALANTATOURIST TRADE - TRNAVASLOVAK PLASTIC - NITRAENERGETIC - TRNAVA Humenne Košice Poprad Sladkovicovo Malacky Vrable D.N. Ves Bratislava Lozorno Trnava Žilina Kys. Nové Mesto Trenčín Dubnica n.Váhom Martin Nitra Hlohovec Nové M. n. Vahom Galanta Presov Banská Bystrica Zvolen CLUSTERS DATABASE CLUSTERS DATABASE CLUSTERS OF WESTERN SLOVAKIA CLUSTERS OF MIDDLE AND EASTERN SLOVAKIA IT - KOŠICEIT & COMMUNICATION - ŽILINASLOVAK MACHINERY - DETVABALNEA (SPA) - DUDINCEORAVA TOURIST – DOLNÝ KUBÍNTURIEC TOURIST - MARTINLIPTOV TOURIST - LIPT. MIKULÁŠ Detva Cluster for Robotization and Automatization - Prešov

20 Norwegian – Slovak Business Relations Export from Slovakia to Norway: 77 Slovakian Companies Import in Slovakia from Norway: 49 Slovakian Companies Export from Slovakia to Norway Export from Slovakia to Norway – cars, paper and cellulose wad, cargo wagon, electric transformers and converters, waterproof shoes, carbon electrode, cords and ropes and plane rolling products Export from Norway to Slovakia Export from Norway to Slovakia - ferroalloy, chemical wood cellulose, unenamel paper and cardboard, electric transformers, machinery and its equipment, fluorites. List of 123 Slovak companies looking for cooperation partners in Norway available on

21 Special interregional cooperation between More og Romsdal region in Norway and Presov region in the Eastern Slovakia Opportunities for cooperation: , Presov Business mission of Norwegian companies to the Presov region Machinery (automatization and robotics): Chemosvit, a.s. (www.chemosvit.sk) - subcontract, joint venturewww.chemosvit.sk Spinea s.r.o. (www.spinea.sk) - subcontractwww.spinea.sk VUKOV Extra, a.s. (www.vukovex.sk) - subcontractwww.vukovex.sk PROCONT, spol. s r.o. (www.procont.sk) - subcontractwww.procont.sk Automotive: ZVL Auto, s.r.o. (www.zvlauto.sk) - subcontract, joint venturewww.zvlauto.sk Fragokov – export, v.d. (www.fragokov.sk) – subcontractwww.fragokov.sk Electronics: Elcom s.r.o. (www.elcom.sk) - subcontract, acquisitions of companieswww.elcom.sk Tesla a.s. (www.tesla.sk) - subcontractwww.tesla.sk Pharmacy:IMUNA PHARM, a. s.(www.imuna.sk) – subcontractwww.imuna.sk University of Presov: Research of DNA, - Both regions would like to increase their cooperation in the field of Engineering, Automatization Technology and Robotics, Chemical Industry, Packaging, Pharmaceutical Industry, Renewable Energy and Tourism.

22 Main Investor s from Norway in Slovakia Kongsberg Automotive – Driveline, Vráble NORSK HYDRO - Slovalco, Žiar nad Hronom TIMM - TIMM Slovakia, Trenčín Bratislava Coop Norge, Oslo Domex-Interier- Export, Linstow Airport Bratislava, Verdispar, CEPM, VIZADA (Telenor) Slovakia, Oslo REMA 1000, VERDISPAR, Blomquist Bratislava Bratislava Coop Norge, Oslo Domex-Interier- Export, Linstow Airport Bratislava, Verdispar, CEPM, VIZADA (Telenor) Slovakia, Oslo REMA 1000, VERDISPAR, Blomquist Bratislava

23 The Royal Norwegian visit to Slovakia October 2010 I B2B negotiations between Norwegian and Slovak Companies I Round tables with a specific topics in the field of Renewable Energy and Infrastructure Looking for more cooperation between Norway and Slovakia in the field of Research and Development and Innovation SARIO IN COOPERATION WITH INNOVATION NORWAY

24 4 th Slovak Matchmaking Fair 2010 in partnership with France 9 – 10 November 2010, Venue: Agrokomplex Nitra International Business Networking I Engineering I Automotive Industry I Electrotechnics I Power Industry and Renewable Energy I Chemistry I IT Technologies Programme I Partners presentations I B2B negotiations I Round tables I Special conference

25 Thank you for your attention PhDr. Juraj Haško For more information, you can contact us at: Adress: SARIO Martinčekova Bratislava, SR Tel.: Website: Embassy of the Slovak Republic


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