German market welcomes Slovaks with their businesses

Companies do not need to establish a local company to expand in Germany.

Poprad-based Tatravagónka is one of the companies with a branch in Germany.Poprad-based Tatravagónka is one of the companies with a branch in Germany. (Source: TASR)

While the automotive sector is the most significant of sectors in Slovak industry, German companies also play an important role. The strongest EU economy is also the most important commercial partner for Slovakia.

The relationship between these two countries enables a mutual exchange of businesses in other areas as well. The interest of companies from Slovakia in moving or opening a branch in Germany is significantly growing now. The Slovak Investment and Trade Development Agency (SARIO) records the continuing interest of Slovaks in the German market, particularly in the subcontracting sector for larger German businesses.

Read also:Companies ride on a successful waveRead more 

“The reason is geographical, linguistic and cultural proximity,” SARIO wrote for The Slovak Spectator.

However, expansion is certainly dependent on the financial conditions that Slovak companies are able to negotiate for work in Germany, said Patrícia Tóthová, managing partner at the ProfiDeCon consulting company, which mediates business in Germany.

“Companies have to count profitability after the reimbursement of their labour cost and cost of subcontractors,” Tóthová told The Slovak Spectator.

Small percentage

The current situation of Slovak businesses on the German market reflects the amount of foreign direct investments (FDI). In 2016, there were about €41.321 million in Slovak FDI in Germany, according to the statistics of the National Bank of Slovakia (NBS).

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

Top stories

News digest: Opening of Bratislava bypass postponed

Interior minister stays, Pavarotti from Slovakia celebrates his 70th birthday and Slovak food producer wins its fourth Great Taste prize.


6 h
Bratislava Mayor Matúš Vallo speaks to foreigners at [fjúžn] festival's "Ask the Mayor" event.

Foreigner’s community has a big voice, but it needs to be more organised

Bratislava Mayor Matúš Vallo addressed the questions and concerns of foreigners in Bratislava during a special Q&A.


23. sep
Reconstruction work on the Monument of Liberation and Victory, unveiled in 1955 in the Dargov mountain pass, which commemorates the liberation of eastern Slovakia from Nazism.

Unusual mousetrap and Dubček's glasses: Slovakia treasures on display in America

Look through event tips, set out on an easy hike and read short culture stories.


11 h
The new Bratislava sculpture is made of coloured bronze, its height is almost five metres, and it weighs two tons.

Donkey, dog, cat and a rooster: Four friends find a new home in Bratislava

A 'Town Musicians of Bremen' statue has been unveiled in the city.


23. sep
Skryť Close ad