30. August 2023 at 07:00

Which German companies operating in Slovakia are “hidden champions”?

Slovakia and Germany face the same challenges regarding high energy prices, labour shortages and declining demand, says Peter Kompalla, executive director of AHK Slowakei.

Jana Liptáková

Editorial

Peter Kompalla, executive director of AHK Slowakei Peter Kompalla, executive director of AHK Slowakei (source: Courtesy of AHK Slowakei)
Font size: A - | A +
Comments disabled

Schaeffler Kysuce, Vaillant and Winkelmann are German companies operating in Slovakia that are responding to the technological demand for solutions to support the green and digital transformations. But what Slovakia needs is a transition towards innovation. This cannot be carried out by companies alone; rather, it needs a concerted effort, says Peter Kompalla, executive director of AHK Slowakei.

SkryťTurn off ads
SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

The Slovak Spectator spoke with Kompalla about the challenges facing German companies and investors in Slovakia, the labour shortage and ageing of Slovakia, and what the country needs to do to avoid the so-called middle-income trap.

How do you see the current economic situation here, in terms of the German companies that operate in Slovakia?

In the spring survey by AHK Slowakei, it was confirmed that more than 90 percent of companies are at least satisfied with the current situation. What’s a little more challenging is the outlook, because we expect a difficult economic year for Germany, the most important trading partner of Slovakia, due to inflation, high energy prices and probably declining demand.

SkryťTurn off ads
Germany has its differences with Fico, but election comes first
Related article
Germany has its differences with Fico, but election comes first

What reasons do you see behind the decline in demand?

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription -  Sign in

Subscription provides you with:

  • Immediate access to all locked articles (premium content) on Spectator.sk

  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)

  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you

  • Access to all premium content on Sme.sk and Korzar.sk

Comments disabled
SkryťClose ad