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Slovakia, a place to do business
Slovakia – Growing Heart of Europe Strategic location  with  great export potential Source:  SARIO, 2010 <ul><li>Establish...
Member of the Eurozone <ul><li>€ </li></ul><ul><li>1st  January  2009 </li></ul><ul><li>Slovakia joined the EURO Zone </li...
Macroeconomic Overview GDP growth GDP Prediction for 2011 EC  3 % OECD 3 . 6% National Bank of SR  3 . 4 % IMF 4 . 5 % MF ...
2010: Highest GDP Growth   in the Eurozone   (in %)  Source: Eurostat , February 2011
Source: www.standardandpoors.   com , www.moodys.com ,  www.fitchratings.com ,  www.jcr.co.jp ,  www.r-i.co.jp ,  www.oecd...
Source: World Bank Group – Doing Business Report 20 1 1 Registering  property Paying taxes Enforcing contracts Protecting ...
Lower Labour Cost  & Higher Labour Productivity  7 69  € Slovakia 9 76  € 23  951  CZK Czech Republic 806  € 3  224 ,9 8  ...
Simple and Fair Taxes Corporate Income Tax Personal Income Tax  Value Added Tax - VAT Dividend tax  Inheritance and Gift T...
Top 5 Investors by Country ( SARIO  finalized projects) 1 3 5 2 4 Germany South  Korea Austria France Italy Source: SARIO ...
Major German  Companies in Slovakia SARIO helped  to realize  55 investment projects   in volume of 870 mil. EUR creating ...
Top 5  E xport  D estinations 20 % 9% 6% 13% 7% Germany Czech  R epublic France Poland Italy Source: SARIO ,  2010
TOP Sectors of Slovak Economy Automotive 1 st  in world car production in 2010 Electronics Leading Slovak Exporter – drive...
Key  S ector: Automotive Car  P roduction in Slovakia Source: SARIO 201 1 , Slovak Automotive Industry Association ZAP,VW,...
Key Sector: Electronics Source:  SARIO, 2010 <ul><li>Assembly of Bravia models for the European market doubled in 2008 to ...
Key Sector: ICT / SSC s   Over 48 SSCs & CCs … employing  > 25 800 +  professionals <ul><li>Unique  clustering of shared s...
Key Facts Why to Consider  Slovakia for R&D Source: Statistical Office of the Slovak Republic, 2011 <ul><li>Highly qualifi...
FDI and Technology Transfer <ul><li>No. 5 in t he extent of bringing new technology to host country </li></ul><ul><li>1 = ...
Success Story: Ultra light-weight  carbon fibre  C2i, s.r.o. Dunajská Streda <ul><li>Company is developing and manufacturi...
Material Research in Slovakia  <ul><li>T he most successful applied research institute within SAS </li></ul><ul><li>Alumin...
Developing Sector in Slovakia: Biotechnology The most biotechnology organizations and research institutions are located in...
More Success Stories:  Corporate R &D  Centres
Success Stories  & FDI  I nflow to Slovakia  Source: National Bank of Slovakia 2010,  SARIO, 2010 Country of Origin Invest...
Great Brands Gather in Slovakia Source: SARIO ,  2011
SARIO Who We Are government funded  organization  under the direction of the  Ministry of Economy of the Slovak Republic M...
SARI O Services <ul><li>From providing   </li></ul><ul><ul><li>General services & information to all subjects interested i...
ISA is an association of corporate entities and companies doing business in Slovakia Investment Support Association,  ISA ...
Golf opportunities  Beautiful mountains Aqua parks Wellness Small Country  of  Great Opportunities Source: SARIO ,  2010 S...
Thank you for your attention! <ul><li>For more information, you can contact us at: </li></ul><ul><li>Slovak Investment and...
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  1. 1. Slovakia, a place to do business
  2. 2. Slovakia – Growing Heart of Europe Strategic location with great export potential Source: SARIO, 2010 <ul><li>Establishment: 1st January 1993 </li></ul><ul><li>Official name: Slovak Republic </li></ul><ul><li>Area (km2): 49,035 </li></ul><ul><li>Population: 5,379,000 </li></ul><ul><li>Capital: Bratislava </li></ul><ul><li>Member of: OECD, WTO, NATO, EU, Schengen area </li></ul><ul><li>Official currency: EURO </li></ul><ul><li>Official Language: Slovak </li></ul><ul><li>Government: Parliamentary democracy </li></ul><ul><li>Election term: 4 years </li></ul><ul><li>Neighbours: Austria, Czech Republic, Hungary, Poland, Ukraine </li></ul><ul><li>Time zone : GMT + 1hour </li></ul>
  3. 3. Member of the Eurozone <ul><li>€ </li></ul><ul><li>1st January 2009 </li></ul><ul><li>Slovakia joined the EURO Zone </li></ul><ul><li>EURO IMPLEMENTATION IMPACT: </li></ul><ul><li>Limitation of Foreign Exchange Risk </li></ul><ul><li>Lowering Transaction Costs </li></ul><ul><li>Growth in Foreign Trade </li></ul><ul><li>Increase d F inancial S tability </li></ul>Source: SARIO, 2010
  4. 4. Macroeconomic Overview GDP growth GDP Prediction for 2011 EC 3 % OECD 3 . 6% National Bank of SR 3 . 4 % IMF 4 . 5 % MF SR 3 . 4 % GDP Prediction for 2012 OECD 4 .4 % Source: International Monetary Fund, Eurostat, Slovak Statistics Office, Central office of Labour, social affairs and family 2008 2009 2010 2011 1Q Real GDP growth 6 . 4% - 4 . 7% 4% 3.5% Labour productivity growth 3 . 8% 2 . 7 % 2.2% - HICP Inflation 4.6 % 0 . 9% 0.7% 3.4% Unemployment 7.7 % 1 1.4 % 14.4% 13 . 9% Average monthly gross salary (€) 723 744,5 769 746
  5. 5. 2010: Highest GDP Growth in the Eurozone (in %) Source: Eurostat , February 2011
  6. 6. Source: www.standardandpoors. com , www.moodys.com , www.fitchratings.com , www.jcr.co.jp , www.r-i.co.jp , www.oecd.org Ratings & Outlook COUNTRY RATINGS (Sovereign foreign currency ratings) SLOVAKIA CZECH REPUBLIC HUNGARY POLAND BULGARIA ROMANIA A+ positive A A- stable BBB- n egative A- stable BBB stable BB+ stable A1 stable A1 stable Baa 3 negative A2 Stable Baa3 positive Baa3 stable A+ stable A+ p ositive BBB - stabl e A- Stable BBB- negative BB+ stable A + stable A stable BBB+ negative A- Stable BBB stable BBB- stable A stable A stable BBB stable A - stable OECD Country risk 0 0 0 2 4 4
  7. 7. Source: World Bank Group – Doing Business Report 20 1 1 Registering property Paying taxes Enforcing contracts Protecting investors Closing business Construction permits Methodology The Doing Business project provides objective measures of business regulations and their enforcement across 183 economies and selected cities at the subnational and regional level. Starting a business Trading across borders 1st Rank in CEE in DOING BUSINESS 201 1 ! Getting credit
  8. 8. Lower Labour Cost & Higher Labour Productivity 7 69 € Slovakia 9 76 € 23 951 CZK Czech Republic 806 € 3 224 ,9 8 PLN Poland 7 60 € 202 576 HUF Hungary Data for 20 10 Source: National Statistical offices of Czech R epublic, Hungary, Poland, Slovakia, Bulgaria, Romania exchange rate (as of 23 March 201 1 ) GDP (in PPS) per hour worked as compared to EU15 (100) Source: Eurostat 20 1 1 Gross monthly salary 472 € 1936 RON Romania 328 € 642 BGN Bulgaria Slovakia reaches the highest labor productivity
  9. 9. Simple and Fair Taxes Corporate Income Tax Personal Income Tax Value Added Tax - VAT Dividend tax Inheritance and Gift Tax Real Estate Transfer Tax R epatriation of profits 19% Flat Tax Rate Source: SARIO 2011 19% 0% 100% 20 %
  10. 10. Top 5 Investors by Country ( SARIO finalized projects) 1 3 5 2 4 Germany South Korea Austria France Italy Source: SARIO , 2010
  11. 11. Major German Companies in Slovakia SARIO helped to realize 55 investment projects in volume of 870 mil. EUR creating over 10 000 new jobs !
  12. 12. Top 5 E xport D estinations 20 % 9% 6% 13% 7% Germany Czech R epublic France Poland Italy Source: SARIO , 2010
  13. 13. TOP Sectors of Slovak Economy Automotive 1 st in world car production in 2010 Electronics Leading Slovak Exporter – driver of economic and technological growth SSC/ICT SR is becoming a hive of SSC and ICTs
  14. 14. Key S ector: Automotive Car P roduction in Slovakia Source: SARIO 201 1 , Slovak Automotive Industry Association ZAP,VW, KIA, PSA-Peugeot 1 st Place in 20 10 10 3 /1000 inhabitants in World Car Production/1000 inhabitants Full Capacity of 3 automobile companies 1,000,000 cars/year
  15. 15. Key Sector: Electronics Source: SARIO, 2010 <ul><li>Assembly of Bravia models for the European market doubled in 2008 to 4mil. </li></ul><ul><li>3D TV from April 2010 </li></ul><ul><li>Production of LCD 10 mil pcs. </li></ul><ul><li>Assembly of LCD </li></ul><ul><li>Logistic center </li></ul><ul><li>Europe service center </li></ul><ul><li>3D TV from February 2010 </li></ul><ul><li>Production of LCD moduls </li></ul><ul><li>Only 1 in Europe </li></ul><ul><li>Headquarter for Europe </li></ul><ul><li>3000 new jobs </li></ul><ul><li>Investment 191,3 mil Eur </li></ul>
  16. 16. Key Sector: ICT / SSC s Over 48 SSCs & CCs … employing > 25 800 + professionals <ul><li>Unique clustering of shared services and IT support creates a fast-paced, enthusiastic IT environment </li></ul><ul><li>Advanced wireless technologies – Flash-OFDM, WiMAX, HSDPA – covering large majority of the population </li></ul><ul><li>High population density and low deployment costs making development and experiments easier than ever </li></ul>
  17. 17. Key Facts Why to Consider Slovakia for R&D Source: Statistical Office of the Slovak Republic, 2011 <ul><li>Highly qualified human resources at affordable costs </li></ul><ul><li>Presence of production plant operation in high-tech and medium high-tech industries </li></ul><ul><li>Presence of foreign R&D centres and technology clusters </li></ul><ul><li>Broad domestic R&D and innovation network </li></ul><ul><li>Established cooperation between industries and domestic universities </li></ul><ul><li>R&D incentives </li></ul>„ The main reason why we decided to establish R&D in Slovakia is the fact that Slovakia is still considered to be a Best – Cost – Country; secondly, the region of Banska Bystrica we chose offers well educated and qualified young engineers and furthermore our plant in Zvolen is in the closet proximity to the Technical University of Zvolen“ Gerhard Baucke – Plant Manager, Continental Automotive Systems Slovakia
  18. 18. FDI and Technology Transfer <ul><li>No. 5 in t he extent of bringing new technology to host country </li></ul><ul><li>1 = not at all; 7 = FDI is a key source of new technology </li></ul>Source: The Global Competitiveness Report 2010-2011, World Economic Forum, 2010
  19. 19. Success Story: Ultra light-weight carbon fibre C2i, s.r.o. Dunajská Streda <ul><li>Company is developing and manufacturing ultra light-weight carbon-fibre structures from premium automotive, satellite communication, defense and electric cars sector </li></ul><ul><li>Complete service from design to prototype to series production of advanced composites components </li></ul><ul><li>Cooperation with Airbus, Eurocopetr, FACC, Porsche, Audi, BMW, Bentley. </li></ul>Source: www.c2i.sk
  20. 20. Material Research in Slovakia <ul><li>T he most successful applied research institute within SAS </li></ul><ul><li>Aluminium foam – the unique technology used through cooperation with Austrian company Alulight International GmbH in Ferrari, Audi and many other manufacturers.. </li></ul>Source: www.sav.sk
  21. 21. Developing Sector in Slovakia: Biotechnology The most biotechnology organizations and research institutions are located in Bratislava region. Three universities are active in the field of biotechnology and several Slovak Academy of Sciences institutes are doing research on biotechnology. Associations: Slovbiotech - Slovak Association for Industrial Biotechnology – www.slovbiotech.sk SAFS – Slovak Association of Research Based Pharmaceutical Companies – www.safs.sk
  22. 22. More Success Stories: Corporate R &D Centres
  23. 23. Success Stories & FDI I nflow to Slovakia Source: National Bank of Slovakia 2010, SARIO, 2010 Country of Origin Investor USA US Steel , Emerson, DELL EMEA Centre of Excellence, Whirlpool, IBM International Services Centre, HP European IT Operation Centre, Johnson Controls R&D Centre, AT&T, Accenture Technology Solutions, Getrag Ford (Deutschland) China LENOVO Taiwan AU Optronics , ESON, Foxconn, Delta Electronics Germany Siemens, Volkswagen, T-Systems Japan Sony, Panasonic, Yazaki, Mitsui Sumitomo Korea Samsung, KIA Motors, Hyundai Mobis France PSA Peugeot Citroen , Alcatel R&D
  24. 24. Great Brands Gather in Slovakia Source: SARIO , 2011
  25. 25. SARIO Who We Are government funded organization under the direction of the Ministry of Economy of the Slovak Republic MISSION EXECUTED THROUGH 3 CORE SECTIONS Foreign Direct Investment s Foreign Trade Structural Funds of the EU
  26. 26. SARI O Services <ul><li>From providing </li></ul><ul><ul><li>General services & information to all subjects interested in FDI in Slovakia </li></ul></ul><ul><ul><li>Tailor-made solutions for potential investors exploring Slovakia such as Best Location for Your Investment/Expansions </li></ul></ul><ul><li>Through </li></ul><ul><ul><li>Assisting in applying for STATE AID for investments into: </li></ul></ul><ul><ul><ul><li>INDUSTRY </li></ul></ul></ul><ul><ul><ul><li>SHARED SERVICE CENTERS </li></ul></ul></ul><ul><ul><ul><li>R&D CENTERS </li></ul></ul></ul><ul><ul><ul><li>TOURISM </li></ul></ul></ul><ul><ul><li>Support foreign trade via match-making & subcontracting activities </li></ul></ul><ul><li>To </li></ul><ul><ul><li>AFTERCARE services - for established foreign companies </li></ul></ul>F ree of Charge Services
  27. 27. ISA is an association of corporate entities and companies doing business in Slovakia Investment Support Association, ISA ISA represents companies of all sectors operating in Slovakia, offering a wide range of professional services for investors  enabling smooth implementation of t heir investment objectives
  28. 28. Golf opportunities Beautiful mountains Aqua parks Wellness Small Country of Great Opportunities Source: SARIO , 2010 Spa resorts A place where history meets future Delicious Slovak Food Rafting Skiing opportunities Visit the mysterious caves Charming Castles
  29. 29. Thank you for your attention! <ul><li>For more information, you can contact us at: </li></ul><ul><li>Slovak Investment and Trade Development Agency </li></ul><ul><li>Address Martincekova 17 </li></ul><ul><li>821 01 Bratislava </li></ul><ul><li>Slovak Republic </li></ul><ul><li>Tel +421 2 58260 100 </li></ul><ul><li>Email [email_address] ; [email_address] </li></ul>

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