BUSINESS SHORTS

Foreign direct investment at Sk58 bn in 2006

THE INFLUX of foreign direct investments in Slovakia totalled Sk57.703 billion (€1.7 billion) last year, which is 2.5 times more than in 2005.

Foreign direct investments that year totalled only Sk21.883 billion (€650 million).

The corporate sector contributed as much as Sk58.159 billion (€1.74 billion) to last year's increase. In contrast, the banking sector reported a decline in investment of Sk456 million (€13.6 million), according to the National Bank of Slovakia.

Of the total amount of foreign direct investments in Slovakia, as much as Sk186 billion (€5.55 billion) went to industrial production, Sk91.6 billion (€2.75 billion) was invested in financial services and Sk66 billion (€2 billion went into energy production and distribution.

Italy was the most significant investor in Slovakia in 2006, investing a total of Sk31.724 billion (€950 million). At the end of April 2006, the Italian energy company Enel took control of Slovakia's dominant power producer, Slovenské Elektrárne as its 66-percent majority shareholder.

After Italy came Austria, Korea, Germany, Cyprus and the Czech Republic.

Most funds were invested in Bratislava Region, which received foreign direct investments of Sk42.515 billion (€1.27 billion). Žilina Region was second, followed by the Trenčín, Trnava and Košice regions. Prešov Region had the lowest investment.

The outflow of foreign direct investments from Slovakia totalled Sk9.5 billion (€284 million). Most of it, approximately Sk7 billion (€209 million), went to Luxembourg. Most foreign direct investments from Slovakia were in the fields of real estate, trading activities and financial services.

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