Slovenia Considers New Markets from Chile to Australia
The main objectives of the “International Challenges 2017–2018” program are to find the priority markets for Slovenian export companies and remove barriers for investors.
Next week, the Government will consider the action plan for bringing Slovenian companies to the world market and receiving direct foreign investments.
The “International Challenges 2017–2018” program mainly defines the same markets as those specified in the plan for 2015–2016. However, the current list of markets is expanded with a number of new countries, such as Albania, Romania and Bulgaria.
In the context of the internationalization policy, the priority markets include the Middle East countries, India and China. In terms of direct foreign investments, these are the USA, Japan and Canada. In these markets, the products with high added value are of particular importance. Slovenia is highly interested in companies investing in any particular industry, such as logistics.
The third group of countries, according to the document, are the new markets. This group includes the countries of Central Asia, Korea, Taiwan, Vietnam, Malaysia, Indonesia, Senegal, Egypt, Morocco, Chile, Mexico, Norway, Australia and New Zealand. Basically, we are talking about the countries included into the document for the first time. “These states represent a promising trend for the Slovenian export companies because they are the growing global markets and thus the niche opportunities for the economy of Slovenia. These markets will become a platform for studying potential of future cooperation,” as stated in the working documents of the Ministry of Economy.
Removing Barriers for Investors
In addition to the “International Challenges” program, a plan of priority actions on removing barriers for investors is currently under development: the reduction in labour costs, the possibility of selling land plots at a reduced price, and changes in the tax system. This year, a single-window system is launched, which will perform part of the Spirit Agency tasks assisting investors and exporters. The single-window system will work at both the national and the regional levels.
The Ministry of Economy prepared a new law on the promotion of primary domestic and foreign investments in Slovenia. It will offer investors some new forms of incentives. This year, 15.4 million euros are allocated in support of the internationalization policy and attraction of direct foreign investments. For the next year, this sum will make 15.6 million euros.