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IN SHORT BUSINESS

Slovakia's FDI at Sk337 billion in 2003

THE AGGREGATE volume of foreign direct investment (FDI) in Slovakia reached Sk337 billion (€8.4 billion) at the end of last year with Sk274.5 billion (€6.8 billion) invested in the corporate sector and Sk62.8 billion (€801 million) in banks. Last year's FDI influx amounted to Sk32.1 billion (€801 million), the Statistics Office announced.

Germany invested Sk10.7 billion (€266.4 million) and Hungary Sk7.4 billion (€183.8 million) in the Slovak corporate sector. Hungary was the biggest investor in the banking sector with an investment volume of Sk971 million (€15 million) in Slovak banks, the SITA news wire wrote.

From the total FDI influx last year, Sk13 billion (€324.3 million) was directed into industrial production and Sk10.5 billion (€261.1 million) into the public sector, defence, and compulsory social welfare.

The Bratislava region acquired the majority of new FDI in 2003, amounting to 82.4 percent.

Germany had the largest share in total FDI in Slovakia (24.7 percent), followed by the Netherlands (16.9 percent), Austria (13.6 percent), and Italy (8.4 percent).

Investments chiefly headed to branches of industrial production (37.9 percent); financial mediation (22.7 percent); production and distribution of electricity, gas, and water (12 percent); wholesale and retail trade, and repair of motor vehicles, motorcycles, and consumer goods (11.5 percent); and transport and storage (10.1 percent).

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