Another keynote speaker at the seminar held on 1st of October in Bratislava was Mr. Jozef M\u00e1der from the Foreign Trade Department of SARIO (Slovak Investment and Trade Development Agency). In his speech, Mr. M\u00e1der described the current economic and investment environment of Slovakia and presented the possible incentives provided for eligible investors by the Slovak legislation.
\nAfter the gradual integration process, Slovakia became a\u00a0reliable EU partner with a\u00a0strongly export-based and open economy. 98% of its GDP is generated by foreign trade, of which 85% remains in the EU. Mr. M\u00e1der further specified the main areas of Slovakia\u2019s trade potential as the energy sector comprising the production of power generators and power equipment, the automotive industry with the production of vehicles and its components, the industrial production and investment units for mining industry, the sector of infrastructure and construction, and water treatment and renewable energy sector.
\nWhen it comes to the economic environment of Slovakia, the country has an excellent geographical position with a\u00a0great positive impact on logistics performance. Furthermore, Slovakia\u2019s currency is Euro which helps to eliminate the currency risks, constrains the transaction costs and helps the economy to grow. As of 2010, Slovakia\u2019s GDP growth was higher than the average GDP growth of EU 28 and it\u2019s Country Credit Ratings are one of the bests in CEE. Another of its advantages is a\u00a0simple and fair tax system with 22% corporate tax and a\u00a0zero dividend tax, real estate transfer tax as well as zero inheritance and gift tax. According to the World Bank Project \u201eDoing Business\u201c which classifies economies in 10 areas of business regulations, Slovakia was a\u00a0leader in the CEE region from 2004 to 2013 and in the year 2015 its overall ranking increased, currently placing Slovakia at 37. place from among 185 countries.<\/p>\n