Slovakia is now one of Europe’s most attractive locations for doing business. It is a young country and is strategically situated in the heart of Europe, with a population of 5.5 million and land area of 9,000 square kilometers (19,000 sq mi). The country is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south. Bratislava (Capital) is the largest city with a population of 500 000. Slovakia is a member state of the European Union, Euro Zone, Schengen Area, NATO, The United Nations, OECD and WTO. Slovakia yearly GDP growth is one of the highest in the Euro zone.
The Slovak workforce is highly skilled. The main foreign languages spoken are English and German. Hourly labour costs in Slovakia are more than 3 times lower than in Germany, and are at average level of V4.
Traditional industries are engineering, chemical, electrical engineering, wood-processing, food production and processing. Industry is undergoing a phase of rapid growth. Slovakia has a very productive automotive industry.
The CEE region offers European companies a number of advantages. Development of business relationships are easy due the close geographical proximity, with capable access through a number of budget airlines, meaning business here is especially ideal for SMEs on tight budgets. EU funded infrastructure, energy, and innovation projects have also created opportunities, and it currently has a far lower market penetration in comparison with West European markets.
When investing in Slovakia you can get financial support for implementing an investment project, or expanding or changing your business activities.
Investment incentives or financing from EU Funds are forms of available financing if you need a financial support for your investment project in Slovakia. We would be pleased to assist you with your application for any type of state aid for the investment project. We assist in detailed assessment of opportunities for financial support, drafting the investment plan and the application for the state aid; subsequently provide assistance in communicating and negotiating with the state authorities, support in project implementation, and drafting monitoring reports during the drawing period.
Investment incentives (or state aid up to 35% of investments) are one of the tools which are used to motivate investors to place their projects in Slovakia also in the less developed regions, i.e. the regions with higher unemployment, lower infrastructure quality, etc. The connection with a certain region is one of the fundamental characteristics of the incentives and their provision shall serve to support not only foreign, but also Slovak investments.