Peter Kompalla, executive director of AHK Slowakei (source: Courtesy of AHK Slowakei)
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.
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.
What reasons do you see behind the decline in demand?
