Slovenia | Slovenia Nigeria Chamber of Commerce

Slovenia has a long tradition of combining experience and knowledge with innovation, creative thinking, and care for the environment.

Under the slogan Green. Creative. Smart., Slovenia is emerging as a pioneer in innovation and creativity – two key factors behind Slovenia’s impressive economic growth and success.

COUNTRY PROFILE

Slovenia, a country in Central Europe, is known for its mountains, ski resorts and lakes. On Lake Bled, a glacial lake fed by hot springs, the town of Bled contains a church-topped islet and a cliffside medieval castle. In Ljubljana, Slovenia’s capital, baroque facades mix with the 20th-century architecture of native Jože Plečnik, whose iconic Tromostovje (Triple Bridge) spans the tightly curving Ljubljanica River.

Capital: Ljubljana
Area: 20,273 km²
Dialing code: +386
Population: 2.1 million (2020) World Bank

A very brief history

Though Slovenia has been an independent country for only 30 years, its rich history spans over 1,400 years. In the early seventh century, Slovenes founded the first Slavic state – the principality of Carantania – under the leadership of King Samo. Carantania existed for almost 300 years and was widely recognised for its democratic organisation and the sovereignty of its people. However, Slovenian ancestors then came under the foreign control and, for the next 1,000 years, they either lived under the rule of the Habsburg monarchy or as part of the Austro-Hungarian Empire.
Following the end of the WWI, Slovenia joined the Kingdom of Serbs, Croats and Slovenes (later Kingdom of Yugoslavia), and after the WWII, it was part the Socialist Federal Republic of Yugoslavia where it had the status of a republic with its current borders.
After more than 70 years of living in Yugoslavia, Slovenians voted to leave the country in 1990 and declared Slovenia as an independent state in June 1991. Another important milestone for the country took place in 2004 when Slovenia integrated economically and politically with western Europe, joining the European Union and NATO.

Slovenia’s diverse geography
Situated in Central Europe, Slovenia covers an area of 20,273 km2 (half the size of Switzerland). It borders Italy, Austria, Croatia and Hungary, and stretches across the Alps, the Dinaric Alps and the Pannonian Plain to the Mediterranean. This ensures that Slovenia has three different types of climates: Alpine, Sub Mediterranean and Continental. Also, due to its location as well as its history, the impact of many different cultures can be traced across its territory.
Despite its relatively small size, it is a convergence point for a range of different landscapes, each with its own characteristics and unique features. This gives nature lovers ample choices for outdoor activities, one of the reasons Slovenia regularly tops quality of life charts.
Slovenia’s unique language
Slovenia’s two million inhabitants speak Slovenian, a southern Slavic language (written in Latin alphabet). Most Slovenes also speak at least one foreign language, with English being the most common.

Slovenia’s Political System
Slovenia is a parliamentary democracy republic with a multi-party system. The head of state is the president, who is elected by popular vote. He or she is the commander-in-chief of the Slovenian armed forces but his role is mainly representative.
The executive and administrative authority in Slovenia is held by the Government of Slovenia, headed by the Prime Minister and the council of ministers or cabinet, who are elected by the National Assembly. The legislative authority is held by the bicameral Parliament of Slovenia but the bulk of power is concentrated in the National Assembly, which has 90 members.

Slovenia’s regions
Slovenia’s 12 statistical regions have no administrative function and are subdivided into two macroregions for the purpose of the Regional policy of the European Union. These two macroregions (NUTS-2) are:
• Eastern Slovenia (Vzhodna Slovenija), which groups the Pomurska, Podravska, Koroška (Carinthia), Savinjska, Zasavska, Spodnje posavska, Jugovzhodna, and Notranjsko-kraška statistical regions.
• Western Slovenia (Zahodna Slovenija), which groups the Osrednjeslovenska, Gorenjska (Carniola), Goriška (Gorizia), and Obalno-kraška statistical regions.

SLOVENIA’S ROBUST ECONOMY – The Right Ingredients for Success

Slovenia is an export oriented country with a large share of industry and a sustained growth rate in the past with optimistic forecasts for the next years. Slovenia encourages foreign investment to exploy the possibilities for theri projects.

Slovenia is one of the few countries with 100% macroeconomic stability (World Economic Forum’s Global Competitiveness Index 2019), ensuring low-risk environment to investors. What is more, the World Bank’s Doing Business 2020 indicators rank Slovenia in 37th place among 190 world economies, highlighting Slovenia’s commitment to provide stimulating business conditions. The economy is diversified and well immersed into the European production chain.

WHY SLOVENIA?

Why Slovenia? Slovenia’s excellent geostrategic position, at the heart of Europe, is one of its obvious advantages that is beneficial to investors. As part of the EU market Slovenia may serve as a springboard for overseas companies wanting to do business in the EU or on the Balkans, including Turkey, or in the countries of Eastern Europe (Russian Federation, Ukraine, Belarus). The location at the crossroads of TEN-T corridors is the ideal entry point for an instant access to European countries with more than 700 million customers. When considering the reasons why Slovenia can be your next potential business partner, note that it has all attributes needed to do business across the region: knowledge of language, customs and culture, as well as personal connections. Slovenia’s green, creative and smart economy are the main differentiators and the answers to your question why Slovenia should be your business radar.

Slovenia’s reputation for having a long industrial tradition, good education system and extensive training has far reaching consequences and investors and businesses have been taking note. Ever since the late 1970s, foreign investors and businesses have cited Slovenia’s workforce as one of the country’s steadfast competitive advantages. The value added per employee continues to increase, ensuring that Slovenia remains at the forefront in highly competitive markets. To do so, having an excellent workforce would not be enough.

Hence, there are many other advantages to investing or doing business in Slovenia. Notably, the business-friendly legislation, investment incentives, 19% corporate income tax rate and investment tax allowance. This mix allows various industries to thrive in Slovenia, with many of them having a large footprint in international markets.

The ever-changing market demands require agility and adaptability, attributes often associated with Slovenia’s business culture. The restructuring of the country’s economy towards high-tech products and markets ensured that the country’s export remains competitive and that the gross value added continues to increase. The manufacturing companies lead the way, thanks to constant innovations, generating the highest gross value added (large manufacturers account for more gross value added than the large companies from other sectors put together). Slovenian society is based on knowledge and is the 13th in the EU in the field of digital economy and society and 8th in the EU for incorporating digital technologies in companies (DESI, 2021). No wonder that Slovenia is big in digital technologies: pioneer in artificial intelligence, big data analysis, data mining and block chain technology.

Slovenia’s strategy for the future remains on further increasing the value added in the high and medium-high technology industries: manufacture of vehicles and vessels, the manufacture of electrical and optical equipment, and the manufacture of machinery and equipment.

The focus is also on knowledge-intensive services that lead to manufacturing or technological innovations, sharpening the competitive edge of Slovenia’s manufacturing industries at home and abroad. The flagship industries include: electronics and electrical engineering, machine building, wood processing, food processing, healthcare and life science, hospitality and entertainment.

SLOVENIA. Green. Creative. Smart.

Slovenia – a land of infinite potential for your business. Benefit from Slovenia’s green qualities, creative talent and smart environment. Find out more about Slovenia’s green, creative and smart economy to grow your business.
https://youtu.be/CJIqTBV3iMs

THE ONE STOP SHOP FOR ALL YOUR BUSINESS NEEDS

SPIRIT Slovenia Business Development Agency is a single point of contact for businesses and investors looking for new opportunities. The agency’s chief tasks include promotion of Slovenia’s companies abroad as well as promoting Slovenia’s advantages as an FDI location. SPIRIT Slovenia helps both Slovenian companies to increase their exports and international companies to invest and expand in Slovenia and beyond.

Free of charge, the agency offers foreign companies and investors strategic advice and operational support when entering Slovenian market. SPIRIT Slovenia prepares and provides practical information and advice on various business opportunities in Slovenia such as individual investment locations, Slovenian suppliers, specific industries, and markets. We are your one-stop-shop for your required information about doing business in Slovenia – learn more about us and our activities.

SPIRIT Slovenia is entrusted with the regulatory, expert and development tasks serving to increase competitiveness of Slovenia’s economy in the area of entrepreneurship, internationalisation, foreign investment, and technology.

Explore the website to learn more about us. https://www.spiritslovenia.si

The Slovenia-Nigeria Chamber of Commerce is a single point of contact for Nigerian businesses and investors looking for new oppourtunites in Slovenia. It is a non-governmental, bi-lateral organization created with the aim to build, promote and facilitate trade and investment activities between Slovenia and Nigeria.

Our focus is to help business men and women in Nigeria and Slovenia develop and grow international business opportunities, as well as to address related legislative, financial, travel, export, import, trade/market issues and interest.

The value of the Chamber, apart from its continuous strive to provide a reliable and trusted partners located and connected in a member sector, the Chamber is committed and poised to make your entrance or transition to Nigerian or Slovenian market a delightful experience, reduce your stress to a minimum and mainly secure your interest whenever and wherever possible. Explore the website to learn more about us. https://slovenia-nigeria.eu

The Slovenia-Nigeria Chamber of Commerce is a member of European Federation of Bilateral Chambers of Commerce.

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