Sunday, April 02, 2006
Just to update some oh-so-clever ones...Why Slovakia?
Investor Confidence: Over 90% of more than 200 existing foreigninvestors in Slovakia have further expansion plans (in Slovakia).
Economic Stability: A very tight monetary policy, one of the lowest inflation rates in Central Europe and one the highest GDP growth in the region. Slovak Finance Minister Brigita Schmögnerova won Euromoney magazine's award as the "Best Finance Minister of the Year 2000" award (received at the IMF and World Bank annual meeting in Prague).
Intellectual Capital: One of the highest literacy rates in the world, high percentage of secondary level graduates, and in terms of scientists and engineers per capita, the highest rate in the region, with excellent information technology graduates as a favored target of the Western European headhunters.
Cost Efficiency: Slovakia is a source of highly cost-effective wellqualified labor.
Industrial Heritage: Slovakia has a long tradition of manufacturing excellence and international trade. Mechanical and electrical engineering, for example, accounts for almost 20% of GDP and around a quarter of all exports. And in another important sector, Slovakia's petroleum processing company Slovnaft increased sales to over $2 billion and exports over half of output. The established manufacturing infrastructure enables foreign companies to source more products and services locally. 50% of foreign investment has been in industrial production.
Culture: Slovakia is located exactly in the geographical center of Europe, it is in Central Europe. (Calling it an East European country refers to the previous political East/West division of Europe.) Therefore the culture, most customs, food, etc. are very similar to those of other Central European countries, incl. Austria and Germany.
Strategic Location: Slovakia lies at the crossroads of one of the world's oldest trading routes: east-west water route along the River Danube and the overland route from the Baltic to the Mediterranean.
