Opportunities for businesses in Slovakia
The government's international network flags international opportunities and trends for businesses, in partnership with local parties and governments.
Opportunities and developments
Staff at our missions closely monitor economic, innovative and social developments. They identify opportunities, trends and local demand, for example for specific products or techniques. And they also monitor opportunities for and developments in innovation, international corporate social responsibility and procurement. This includes contracting by international organisations (website in Dutch).
Market and sector reports
Missions also compile market and sector reports (website in Dutch). You can also find reports by private parties, such as banks. This way, you can keep up with key business developments in the local market.
New business opportunities in this country or region
Economic situation in Slovakia
The Slovak Republic is one of the fastest-growing economies in Europe. After its seperation from the Czech Republic in 1993, Slovakia initially took up an isolationist position while Meciar's government was in office. When Dzurinda's government took over in 1998, everything changed. Membership of NATO and accession to the EU became the country's top two priorities, which were both achieved in 2004. During Dzurinda's reign the Slovak economy was dramatically reformed: a flat tax (19%) was introduced; the pension system, the social security system and the health care sector were reorganised; privatisations were carried out. In addition, Slovakia adopted the euro in 2009.
These developments caused a big increase in foreign investments. Especially the automotive industry and its suppliers have found their way to Slovakia, such as: USSteel (Kosice), Kia (Zilina), Peugeot/Citroen (Trnava) and Volkswagen (Bratislava). Even though the domestic market is quite small (5 million inhabitants), Slovakia is an ideal operating base, also because of its location in the centre of Europe.
Trade Slovakia - the Netherlands
Every year the Embassy investigates Slovak sectors that could be of interest to Dutch entrepeneurs. The following sectors have a lot of potential:
- Automotive industry and suppliers
- Information technology and service cntres
- Mechanical engineering