BRATISLAVA, March 31, (WEBNOVINY) – Foreign investors in Slovakia are again optimistic. One hundred sixty-six foreign companies were inquired about their mood in a survey, which showed that European investors anticipate improved business. Some forty percent of the addressed firms are planning to bolster their investment activities and personnel. The outcome of the survey has been presented by the Slovak-German Chamber of Commerce.
Nearly two-thirds of respondents predict that the local economic situation will improve this year. “We, too, are optimistic because progress has returned to the Slovak economy,” Director General of Siemens’ affiliation in Slovakia Vladimir Slezak commented on the survey. Nonetheless, he rushed to add that the economic activities have not yet reached the pre-crisis levels. Almost 65 percent of companies expect turnover growth this year. Mere 11 percent prognosticate a turnover decline. In addition to this, virtually 60 percent of foreign investors intend to raise payroll costs.
Slovakia is a good place for investment projects particularly thanks to its EU membership, skilled workforce willing to work on relatively low labor costs and the tax system. Compared to other CEE states, the respondents labeled Slovakia the most attractive locality for investment. A vast majority of foreign companies, i.e. 83 percent, would again land their projects in Slovakia, according to the survey.
Notwithstanding, investors see certain reserves in Slovakia, chiefly in the battle again corruption, law enforceability, public procurement transparency, R&D and the education system. They also complain about high rate of red tape in the use of EU funds. Half of the addressed firms said they were satisfied with the activities of Iveta Radicova’s Cabinet.
SITA
