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Norwegian – Slovak Business Forum Oslo, Norway 10.6.2010 Norsk - Tysk Handelskammer SLOVAKIA Ideal Investment & Business Destination Slovakia – Heart of Europe I Establishment: 1st January 1993 I Official name: Slovak Republic I Area (km2): 49,035 I Population: 5,379,000 I Capital: Bratislava I Member of: OECD, WTO, NATO, EU, Schengen area Strategic location I Official currency: EURO with I Official Language: Slovak great export potential I Government: Parliamentary democracy I Election term: 4 years I Neighbours: Austria, Czech Republic, Hungary, Poland, Ukraine I Time zone: GMT + 1hour Journey of Slovakia Independent Flat tax 19% European Union Slovakia EURO Zone 1.1.2004 member 1.1.1993 1.5.2004 1.1.2009 19% 14.12.2000 29.3.2004 21.12.2007 member member Fully member of OECD of NATO Schengen zone Macroeconomic Overview 2009 2008 GDP growth (2009) Real GDP growth 6,4 % -3,21% Labour productivity growth 5,8 % Real wages growth (4rd Q 2009) Real wages growth 3,3% 1,6% HICP Inflation 3,9 % productivity Monthly salary (2009) Unemployment 9,6% 744 EUR Average monthly salary (€) 723 Unemployment (April. 2010) A1 positive outlook 12,5% Inflation (JAN. 2010) A+ stable outlook 1,1% A positive outlook 1st rank in CEE in DOING BUSINESS 2010 ! OECD: 3,6% Growth of GDP in 2010 in Slovakia 74 Methodology 80 72 70 60 53 55 Starting a business 50 42 44 47 40 30 Construction permits 20 10 0 Employing workers a y ia nd ia ia ic ar ni ak an ar bl la ve ng pu lg ov m Po o Paying taxes Bu Hu Re Ro Sl Sl h ec Cz Enforcing contracts Protecting investors The Doing Business project provides objective measures of business regulations and their enforcement across 183 Closing business economies and selected cities at the subnational and regional level. Trading across borders Source: World Bank Group – Doing Business Report 2010 Member of Eurozone € 1st January 2009 Slovakia joined the EURO Zone EURO IMPLEMENTATION IMPACT: Limitation of Foreign Exchange Risk Lowering Transaction Costs Growth in Foreign Trade Increase financial stability Simple and Fair taxes 19% flat tax rate I Corporate & Personal Income Tax I Value Added Tax I Dividend tax I Inheritance and Gift Tax I Real Estate Transfer Tax I No limits on the Repatriation of profits Low labour cost vs high labour productivity Labour productivity 942 € Czech Republic 843 € Poland 792 € Hungary 723 € Slovakia Data for 2008 Education in Slovakia 0,01% 6,75% Eastern Slovakia 15,68% university region Western Slovakia university region Central Slovakia 40,39% university region 37,17% No education Bratislava Number of universities: 11 Elementary school university region Total Number of Students in 08/09: 208 072 Secondary General School Graduates in 08/09: 58 447 Secondary Vocational School University education Infrastructure Krakow (PL) 180 km Prague Brno (CZ) 120 km Bratislava Bologna Basel Cargo Split Vienna Prague Bratislava Poprad Alt major European cities Vienna (A) All major European & World cities SLOVAK INVESTMENT AND TRADE DEVELOPMENT AGENCY - SARIO SARIO Doing business with us SARIO – The right place for your business Founded in 2002 by the Slovak government and put under the direction of the Slovak Ministry of Economy. THE MISSION OF SARIO I To present the business environment in Slovakia I To maximize the inflow of foreign direct investments to Slovakia I To support foreign trade via match-making, as well as via subcontracting activities I Administration of structural funds SARIO – Foreign Trade Section - services Expositions and trade fairs – Participation in expositions and trade fairs to promote Slovakia and Slovak entrepreneurs and agencies Organization of business missions and forums abroad and foreign missions Assistance to SME related to their promotion abroad at exhibitions, workshops Help and support of Joint Venture projects Subcontracting activities On-line database - Project of Slovak exporters and their update offerings – matchmaking services SIC - SARIO Information centre Foreign cooperation – Specialists on territories, propagation of slovak products, market analysis, contacts and information sharing SERVICES ARE FREE OF CHARGE SARIO FDI Section Section - services SARIO FDI Assistance in implementing investment projects Analyses of labor market, taxation,legislation, macroeconomics etc. Advice on issues related to starting a business Sectorial and regional analyses Selection and recommendation on ideal location and suitable real estate Facilitation of communication with national and local authorities, self- government bodies Consultancy in the area of state aid and assistance with applications for investment incentives Aftercare services for foreigned investors already operating in the Slovak Republic Assistance in finding Slovak partners for joint-venture or suppliers SERVICES ARE FREE OF CHARGE SARIO STRATEGIC PROJECTS Country Investment Company name of Jobs s Location origin mil EUR SONY Japan 1500 76,3 Nitra SAMSUNG South Korea 450 + 800 63 Galanta SAMSUNG El. LCD South Korea 1200-1400 320 Voderady KIA Hyundai South Korea 3400 1100 Žilina Peugeot-Citroen France 3500 750 Trnava DELL USA 1000+800 8 Bratislava Johns Manville Slovakia USA 1 400 120 Trnava Whirpool USA 1300 200 Poprad Germany/US GFT A 787 345 Kechnec AUO Taiwan 3000 191,3 Trenčín ICU Medical USA 700 14 Vráble Creation of 65 000 jobs in 2002-2008 Source: SARIO 2010 Top 5 investors in Slovakia by sector I 1. Automotive I 2. Machinery I 3. Electrotechnical I 4. Chemical I 5. IT services Source: SARIO, National Bank of Slovakia, 2010 SIC – SARIO INFORMATION CENTRE www.sic.sario.sk At SIC you can find following: Good suppliers Slovak subcontracting companies Investment partners operate in the following industries: Information about - Mechanics international tenders - Electro mechanics - Electronics - Plastic and rubber Partners for joint ventures - Wood and furniture - Textile and clothing New subcontractors Automotive database for VW Slovakia, PSA PEUGEOT CITROEN, KIA and possible investors JAC Motors - China, REVA – India, FIAT – Italy = Electric Cars Goal: Vision: I Creation of the Slovak I Reinforce Research and suppliers database in the Development in the field of automotive industry automotive industry 105 Cars per 1000 Habitants in 2008 CLUSTERS DATABASE CLUSTERS OF WESTERN SLOVAKIA AUTOMOTIVE - TRNAVA Cluster for Robotization ELECTROTECHNICAL -GALANTA and Automatization - Prešov TOURIST TRADE - TRNAVA SLOVAK PLASTIC - NITRA Kys. Nové Mesto ENERGETIC - TRNAVA Žilina Martin Poprad Presov Dubnica n.Váhom Trenčín Nové M. n. Vahom Humenne Banská Bystrica Košice Hlohovec Trnava Zvolen Nitra Detva Malacky Galanta Lozorno Vrable Sladkovicovo D.N. Ves Bratislava CLUSTERS OF MIDDLE AND EASTERN SLOVAKIA Norwegian – Slovak Business Relations Export from Slovakia to Norway: 77 Slovakian Companies Import in Slovakia from Norway: 49 Slovakian Companies Export from Slovakia to Norway – cars, paper and cellulose wad, cargo wagon, electric transformers and converters, waterproof shoes, carbon electrode, cords and ropes and plane rolling products Export from Norway to Slovakia - ferroalloy, chemical wood cellulose, unenamel paper and cardboard, electric transformers, machinery and its equipment, fluorites. List of 123 Slovak companies looking for cooperation partners in Norway available on email@example.com Special interregional cooperation between More og Romsdal region in Norway and Presov region in the Eastern Slovakia Both regions would like to increase their cooperation in the field of Engineering, Automatization Technology and Robotics, Chemical Industry, Packaging, Pharmaceutical Industry, Renewable Energy and Tourism. Opportunities for cooperation: 22.-23.9.2010, Presov Business mission of Norwegian companies to the Presov region Machinery (automatization and robotics): Chemosvit, a.s. (www.chemosvit.sk) - subcontract, joint venture Spinea s.r.o. (www.spinea.sk) - subcontract VUKOV Extra, a.s. (www.vukovex.sk) - subcontract PROCONT, spol. s r.o. (www.procont.sk) - subcontract Automotive: ZVL Auto, s.r.o. (www.zvlauto.sk) - subcontract, joint venture Fragokov – export, v.d. (www.fragokov.sk) – subcontract Electronics: Elcom s.r.o. (www.elcom.sk) - subcontract, acquisitions of companies Tesla a.s. (www.tesla.sk) - subcontract Pharmacy: IMUNA PHARM, a. s.(www.imuna.sk) – subcontract University of Presov: Research of DNA, firstname.lastname@example.org - cooperation Main Investors from Norway in Slovakia Kongsberg Automotive – Driveline, Vráble NORSK HYDRO - Slovalco, Žiar nad Hronom TIMM - TIMM Slovakia, Trenčín Bratislava Coop Norge, Oslo Domex-Interier- Export, Linstow Airport Bratislava, Verdispar, CEPM, VIZADA (Telenor) Slovakia, Oslo REMA 1000, VERDISPAR, Blomquist Bratislava The Royal Norwegian visit to Slovakia October 2010 I B2B negotiations between I Round tables with a specific Norwegian and Slovak topics in the field of Renewable Companies Energy and Infrastructure Looking for more cooperation between Norway and Slovakia in the field of Research and Development and Innovation SARIO IN COOPERATION WITH INNOVATION NORWAY 4th Slovak Matchmaking Fair 2010 in partnership with France 9 – 10 November 2010, Venue: Agrokomplex Nitra International Business Networking I Engineering I Automotive Industry I Electrotechnics I Power Industry and Renewable Energy I Chemistry I IT Technologies Programme I Partners presentations I B2B negotiations I Round tables I Special conference Thank you for your attention PhDr. Juraj Haško For more information, you can contact us at: Adress: SARIO Martinčekova 17 821 01 Bratislava, SR Tel.: +421 910 828 251 Email: email@example.com Website: www.sario.sk Embassy of the Slovak Republic
"Investment Climate and Role of SARIO Norwegian – Slovak Business Forum Oslo Norway 10 6 2010"