WHY CHOOSE SLOVAKIA?
Both the automotive and the technological industry have found their way to Slovakia.
Various prominent companies from the automotive sector (Kia, Volkswagen, Jaguar, Land Rover, Peugeot, Citroën) and from the electronic sector (IBM, at&t, Amazon, Johnson Controls, Dell, …) represent their companies (partly) from Slovakia. Belgian companies Aspel Bekaert, Carmeuse and Plastiflex have production sites there. This is mainly because the Slovakian government regards research and development as a high priority. There are other numerous reasons to choose to expand production in Slovakia:
The Slovakian labor market
A high quality labor market is a must when selecting new production sites for a company. The Slovakian labor market scores well in terms of productivity, qualification and wage cost.
Slovakia is a regional leader regarding productivity. The country beats the Czech Republic, Hungary, Poland, Romania and Bulgaria. Moreover, Slovakia is competitive in terms of wage costs, which are on average lower than in the Czech Republic and Poland: monthly wages are 901 euro.
The educational system in Slovakia is built around the labor market and its strengths.
The ‘Dual education framework’ gives students the opportunity to opt for a practical education on the workplace. Moreover, no less than 72% of the Slovakians get advanced secondary education. This high percentage makes the country number 1 in all of Europe.
98% of the secondary school pupils learns another language than Slovakian at school. English and German are the most popular choices.
Strategic location in Central Europe
With her centralised location in Europe, Slovakia is the ideal operational base for export to Eastern and Western Europe.
Being close to the big European cities makes it possible for Slovakia to reach over 350 million customers within a 1000 km radius. Furthermore, the two international airports and a well-developed road infrastructure provide a quick and safe path to the big European cities.
Political and economic stability
As a member of the European union, the Schengen Area, the eurozone, the OECD, the WTO and NATO, Slovakia offers a stable and familiar political and economic business environment.
Slovakia and Europe
Since her independence, Slovakia has been a parliamentary republic. The country has been a member of the European union since 2004 and of the eurozone since 2009. This shows that Slovakia has been fully integrated in the European economy. Furthermore, Slovakian Donald Tusk was president of the European council from July until December 2016.
On the economic plane, Slovakia has experienced a huge growth during the last decade. A progression that is expected to continue in the coming years.
For more recent information, please visit the website of the European Commission.
European and local support for SMEs
Besides subsidies and support on European and national level, various private companies share their expertise with and give guidance to starting local enterprises. Doing so, everyone can easily build a local branch, whilst getting experienced advice and networking aid.
Depending on the area, Slovakia offers between 35% and 55% investment aid to SMEs. In addition, financial aid is offered depending on the unemployment rate in the area.
The investment aid can appear in different ways, such as tax exemptions, grants, contributions and lowered prices for government land.