Slovakia sits in the heart of Europe
Slovakia sits in the heart of Europe. Bordered by Poland, Ukraine, Hungary, Austria and the Czech Republic, its developed infrastructure gives businesses quick access to other high-growth regions in Europe as well as developed nations to the west. Moreover, taking into account the radius of 1000 km from the capital of Slovakia - Bratislava, a consumer base covers a population of 300 mil. and radius of 2000 km a consumer base covers a population of 600 mil.
Slovakia offers many business advantages, such as relatively low wage costs for talented, adaptable and educated workforce, foreign languages spoken at rather high level (English, German, French and Russian in particular), business friendly environment, rising labour productivity (96% of Slovak employees work more than 40 hours a week) and educational institutions of high quality. Moreover, excellent excess to European market, limitation of foreign exchange risk, lowering transaction costs, growth in foreign trade and increased financial stability during last decade, gave a intention for foreign investors to transfer their business into the Slovakia.
For all these reasons, information and communication technology sector has a solid position in the Slovak economy that can be demonstrated not only by the presence of foreign companies (Dell, IBM, Lenovo, HP, AT&T and etc.) but also strong domestic IT companies (ESET, Sygic etc.). However, Slovakia´s industry is mostly representing by vehicle production industry, such as a Volkswagen (Bratislava), PSA Peugeot Citroën (Trnava), Kia Motors (Žilina), Jaguar Land Rover (Nitra). Among the important activities of modern automotive industry development can be listed not only the construction of the latest automotive plants with the latest technologies, but also the first initiatives in the development of e-Mobility in Slovakia.