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Regjering av Den slovakiske republikk
www.government.gov.sk - med alle departementer

Ministry of Economy of the Slovak Republic
Mierová 19
827 15 Bratislava
Slovak Republic
Tel.: +421 2 48 54 11 11, 1112, 1060
Fax.: +421 2 43 33 32 162
www.economy.gov.sk

Slovak Investment and Trade
Development Agency SARIO
Slovak Chamber of Commerce and Industry
Federation of Employers´ Associations of Slovakia
Center for Economic Development
Non-profit, non-governmental organization specializing in economic research. Its focus is on supporting long-term economic development as the prerequisite for a sustainable growth of the life quality of Slovak population.
Slovak Tourist Board
Slovak Tourist Board promotes an image of Slovakia as an attractive tourist destination welcoming visitors from around the world.
Federation of Industrial Associations of Slovakia

Antimonopoly Office
Protects and promotes competition. Competition represents a natural mechanism which acts in market economy as the regulator of entrepreneurs´ effective behaviour and simultaneously leads to optimal utilisation of economy resources and to effects on the side of consumers.
Institute for Public Affairs
Independent public policy research institute. It is a non-profit non-governmental organization whose mission is to promote and advance democratic values in public policy and contribute towards the development of an open society.

Investment climate - incentives for foreign investors

Slovakia offers following advantages to the foreign investors

  • Tax credit
  • Duty free import of machinery and equipment
  • Possibility of financial support from local authorities in selected regions for an entrepreneur creating new job opportunities for registered unemployed and for re-training
  • Up to 100 % repatriation of all post tax profits in foreign currency
  • A new legislative regulation on the establishment of industrial parks
  • Slovakia welcomes inward investment
  • A well qualified work force, with a high percentage of university graduates
  • A precision engineering and manufacturing tradition
  • As an Associate Member of the European Union, Slovak industrial goods have green access to the European market
  • Relatively low labour cost
  • A first rate location to support traditional trading ties with the developing economies to the East, including the former Soviet Union providing a low cost base for supplying the EU
  • First class road and river communications to market areas
  • A stable macro-economic environment within Eastern Europe based upon low per capita foreign indebtedness and a stable currency
  • Liberal regulations permitting import of goods and components used in further production process.
(more: www.sario.sk )

Integration into the European Union and NATO

Slovakia is regular member of the European Union since May 1st. 2004. The membership of the European Union represent a range of opportunities for the Slovak Republic.

Slovakia is regular member of NATO, which means a higher security and safekeeping of its own property.

The Slovak Republic's accession to the OECD as the 30th member country in December 2000 followed the introduction of a number of reforms to advance its transition to a market economy.

SLOVAKIA - NORWAY bilateral cooperation

The foreign trade co-operation between Norway and Slovakia was fair in 2003 despite a slight decrease of export from Slovakia to Norway. It was caused by 40 % decrease of car import. The balance of trade  was in favour of Slovakia in the amount of SKK 748 mil.

Mil. NOK 2001 2002 2003 I. Q 2004 2004 / 2003
Import from Norway 221 198 227 51 18,9
Export to Norway 293 431 376 119 29,2
Total turnover 515 629 603 170 25,1
Balance +72 +233 +149 +68 +50,6

The results of the I. Q 2004 shows a sufficient  increase of export from Slovakia to Norway by  46,2 % in comparison with the same period of the year 2003.

The most important items of export from Slovakia to Norway are as follows:
cars and motor vehicles, paper, carton, railway or tramway vans, electrical transformers, shoes, carbon electrodes and brushes, ropes, products from iron and steel.

The most important item of import from Norway to Slovakia are as follows:
ferro-alloys, paper and paperboard, chemical wood pulp, parts and accessories of motor vehicles, electrical transformers and nickel powder.

Slovakia does not have any investments in Norway. Norway has investments in Slovakia in the following companies:

Investments in Slovakia: From Norwegian companies:

Valeria ZOLCEROVA
Commercial Section
Embassy of the Slovak Republic

The most important industry divisions in the Slovak Republic

The transformation of economic and social life after 1989 had the strongest impact upon the engineering production including the armaments industry. The absence of substitute production programs resulted in serious transformation problems in engineering for the next years. According to several evaluation reports and studies /OECD, Ministry of Economy of the Slovak Republic/ a high potential for development is a characteristic feature of Slovak engineering industry, which shares around 20 % on GDP of Slovakia.

The main direction of development of metallurgical industry in Slovakia includes expanding of the production of surface coated sheets for covers, coach works, building industry, increase of production of aluminium casts especially for car production industry and copper wires for electrical engineering industry.

Electrical engineering industry contains more than 150 enterprises and represents around 6 % share on GDP in Slovakia. Despite the problems after the transformation into the market economy, this sector of industry has begun a growth and is searching foreign partners and investors also.

Chemical and pharmaceutical industries are the important corner-stones of the Slovak economy. Production of these divisions requires the import of basic raw materials and semi-finished products, whose processing results in a high “pro-exportness” of chemical production as well as production of related industrial fields.

Part of the timber industry, furniture-making industry, paper and pulp industry, polygraphic industry, textile and clothing industry, leather and shoes industry, glass industry, producers of electronics, food and tobacco industry were relatively successful during the transformation into the conditions of market economy. In the majority of these industries there is lack of modern equipment and foreign markets for sale of their production. Further investment development in these sectors in the future will be influenced by the interest of foreign investors to acquire property interests in companies and will enable the use of comparative advantages, to secure effective development of production and sale of goods on the world markets.

For more information contact: Commercial Section of the Embassy of the Republic of Slovakia, Thomas Heftyes gt. 24, 0044 Oslo, tel. 22557807, slovcomm@online.no

Oppdatert i september 2005
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