List of author's articles, page 3
The fastest but not the highest
LAST year the prices of new apartments in Slovakia grew faster than in any of the other Visegrad Four (V4) countries. But despite the fast growth, new apartment prices in Slovakia have yet to reach the highest levels in the V4 region, which also includes the Czech Republic, Hungary, and Poland.
A tricky shot from the rough
GOLF in Slovakia has a very weak tradition. Slovakia has several quality golf courses and several projects to develop new golf resorts are currently in the pipeline. However, it could be a very long time yet before the country makes its mark on the map of popular European golfing destinations.
EU made Slovakia visible in British eyes
BRITISH capital flowed into Central Europe after the fall of the Iron Curtain, but it only trickled into Slovakia until the country joined the European Union in 2004. However, Britain’s volume of investment in Slovakia remains moderate compared to other European countries.
Roughing it in England
BRITAIN was one of the first European Union members to open its labour market to the countries that joined the EU in 2004. Since then, it has attracted the second largest number of Slovaks who have left home for work abroad.
Investors creating a mixed grille
SLOVAKIA, the Czech Republic, and Hungary are currently undergoing large investments in their meat production sectors, a process which is set to continue for some time. Among the Visegrad Four countries only Poland is unlikely to see considerable changes in the industry: the reason being that large-scale consolidation has already taken place there.
Slovaks investing in Romania
A FAVOURABLE tax environment and cheap qualified labour have frequently been the main reasons for foreign capital to head to Slovakia. However, these same attractions are now luring Slovak capital to Romania.
Home might be best
UP to 2,000 Bulgarians and Romanians work in Slovakia, where the average salary, despite being among the lowest in the European Union, is higher than in their home countries.But Slovakia shouldn’t expect a large influx of labour. Like Slovakia, which joined the EU in 2004, the Bulgarian and Romanian economies have improved since the countries joined the EU in 2007, leading an increasing number of workers to stay home or come back from abroad. Those Romanians and Bulgarians who do leave tend to go to western EU countries that are closer and where the pay is better.
Bulgaria is not just a holiday resort
ALTHOUGH trade between Bulgaria and Slovakia is increasing, certain opportunities for closer business relations between the two countries remain unexplored. Cars, machine production, energy, infrastructure, and food are prospective industries for cooperation.
Proximity matters
AUSTRIA is the only western European country bordering Slovakia. The two countries also shared a common past for several hundred years when both were part of the Austro-Hungarian Empire. And now, their geographical and cultural proximity has created a solid base for business cooperation and above-average relations.
Vienna is like a second home
VIENNA and Bratislava are less than 60 kilometres apart, making them the closest capitals in Europe. Such a short distance provides a lot of opportunity for cooperation, which creates economic benefits, a wealth of cross-border contacts, and a better neighbourhood.
Strong SMEs can help Slovaks diversify industry
EVEN though only a handful of large Italian companies have invested in Slovakia, they've ensured their position in the commercial world by going into strategic fields such as energy production and banking. The Italian power company Enel owns a majority stake in Slovakia's single energy producer and the Intesa and UniCredit banks own two major Slovak banks.
Restaurants protect authenticity
THE ORIGIN of Italian cuisine can be traced to the times of ancient Rome and Greece. It is one of the best known and most popular cuisines in the world, including in Slovakia.
Asian investors eager for information
SLOVAKIA has relatively active foreign trade with some small, rich southeast Asian countries, but less investment flows from them. Asian investors agree that this is because Slovakia does not advertise itself enough.In many of these countries, Slovakia does not even have trade-economic departments in its embassies, or a commercial attaché. Commercial and trade representations aren’t opening in the Slovak embassies in Thailand and Taiwan for another year or two.
A hard nut to crack
PRIME Minister Robert Fico declared during his official visit to China last year that his government would do its best to decrease Slovakia’s foreign trade deficit with China.But while some Slovak businesses have found their niche in China, many more are still searching for a stable position. As well as strong competition in the Chinese market, companies face a non-transparent business environment, trade barriers and bureaucracy, according to the Slovak Embassy in Beijing.
Building on old links
INDIA and the former Czechoslovakia used to enjoy strong economic links. But after the 1993 separation of the Czech Republic and Slovakia, trade and business links faded.Economic relations between India and Slovakia are now gradually being renewed with the signing of several inter-governmental agreements and the organising of formal business missions. However, there is still plenty of room for further practical cooperation between Slovak and Indian businessmen.
Swiss money is on its way
one exception being a Slovak financial group which recently bought a Swiss private bank. But the so-called Swiss Financial Mechanism is expected to provide a new impulse for cooperation between the two countries. This is money which Switzerland will use to support mainly the new EU member countries in exchange for access to the enlarged EU single market.
The cost of euro adoption: one good meal
ONE OF the world’s leading clubs of industrialised countries recently delivered an optimistic message to those who feared that Slovakia’s switch to the euro might place a major financial burden on the shoulders of the most vulnerable in Slovakia. The impacts of the cash changeover scheduled in 2009 will be manageable for society and its effects are likely to be small in aggregate, though it might lead to significant price increases in a number of sectors, most notably tourism and recreational activities, the Organisation for Economic Cooperation and Development (OECD) said.
Norway boosts ties with EEA Grants
JOINING the European Union in 2004 brought Slovakia into the European Economic Area (EEA) as well. Membership in the EEA opened new opportunities for grants from three EEA countries not in the EU -
Worth the investment
SWEDISH companies active in Slovakia believe the country has been worth their investment, according to a representative from the Swedish Trade Council.
Business is in steel, cars and IT
STEEL, cars, and information technologies: these are areas in which U.S. investment is concentrated in Slovakia. Major U.S. companies operating here say they appreciate the country’s business environment, but add that it should continue increasing its competitiveness.
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