Slovenia is positioned as the leading jurisdiction in the Southeast European countries on matters concerning competitiveness, as revealed by the latest edition of the Global Competitiveness Report. Amongst the Southeast European (SEE) countries, Slovenia improved its score, reaching 69.9 (from a total of 100), which credits the country with the 35th rank amongst the countries included in the Global Competitiveness Report, continuing its evolution registered in the last years. Our team of Slovenian lawyers can assist with advice on the regulations addressed to foreign businessmen interested in investing here.
The local authorities in Slovenia encourage the participation of women in the business environment. Through a local program, entitled Entrepreneurship is Female, 1,500 women have participated in training courses regarding the business environment and have obtained financial support. The program had very good results, as 90% of the participants have started their own business. Our team of lawyers in Slovenia can assist women entrepreneurs with more information regarding the local regulations that help the participation of women in the business environment.
The Slovenian employment shows a strong outlook as for the last quarter of 2018, the local employers have declared a high level of confidence. More importantly, the employment outlook predicted by the Slovenian employers is one of the highest not only at a regional level, but also at an international one. Businessmen who want to run a business in Slovenia and hire local workforce can receive advice on the employment regulations applicable here from our team of Slovenian lawyers.
In the first six months of 2018, the value of the Slovenian imports and exports expanded; the exports increased by 11.2% compared to same period of 2017, while the imports rose by 10.9%. Most of the Slovenian exports were concluded with the member states of the European Union (EU), representing 76.6% from the total exports and the main trading partners were Germany and Italy. Our team of lawyers in Slovenia can assist businessmen with advice on the main import-export regulations available in this country.
The activities developed in the construction sector in Slovenia increased by 24% in 2017 (compared to 2016), accounting for EUR 1.99 billion. As mentioned by the Slovenian Statistics Office, this represents an increase of 6.2% on the initial estimate on the matter. The growth was mainly driven by the building construction projects, which increased by 35% in the previous year, followed by the civil engineering construction, a field that expanded by 14%. Our team of lawyers in Slovenia can offer legal assistance to the investors who want to register a business in the construction sector.
Although Slovenia is a small European country, its business environment is rather developed and more and more businessmen are attracted to this jurisdiction. The quality of the business market in Slovenia is sustained by its level of innovation, which is the most developed in the Southeastern Europe, as stipulated by the latest edition of the Global Innovation Index, in which the country ranked as the 30th jurisdiction at a global level. Our team of Slovenian lawyers can provide in-depth information on the main incentives available for local and foreing businessmen.
The Slovenian gross domestic product (GDP) is expected to grow this year to a slightly higher rate than the previous estimates. The current growth rate is estimated at 4.6%, increasing from the previous estimate of 4.2%. In the following two years, the GDP growth is estimated at a rate of 3.9% and 3.4% respectively. The modification of the growth rate was a direct consequence of the favourable business conditions and the increasing level of investments and our team of Slovenian lawyers can offer in-depth assistance on the legislation available for foreign investors.
Cryptocurrency and blockchain investments have become one of the main concerns of the global economies, as numerous investment opportunities can derive from this new economic activity. Slovenia is also one of the countries that welcomes blockchain activities and the local technology community will start an European Blockchain Hub, that is set to become the leading blockchain hub which can gather various types of investors and stakeholders. Our team of lawyers in Slovenia can advise on the main procedures related to investments concluded in the field of blockchain.
In the first quarter of 2018 (January – March), the total level of Slovenian exports increased by 9.3% compared to the same period of 2017. According to the data offered by the Statistics Office in Slovenia, this accounted for EUR 7.5 billion. In March, Slovenia exported goods with a total value of EUR 2.7 billion, which represented an increase of 5.4% compared to the same month of the previous year. The country increased its export activities with countries situated in the European Union (EU), as well as with non-EU jurisdictions. Our team of lawyers in Slovenia can offer legal assistance on the main export regulations applicable in this country.
Companies hiring elderly employees in Slovenia are entitled to receive a government incentive of EUR 11,000, as a part of a national program designed to sustain employment in this country. The program, Encouraging Employment of the Elderly – Active until Retirement, has a total fund of EUR 14 million, out of which EUR 11.2 million will be provided by the European Social Fund, while the rest will be offered by the Slovenian government. Businesses operating on this market can receive assistance regarding this program from our team of Slovenian lawyers.
The gross domestic product (GDP) in Slovenia grew by 5% in 2017, as mentioned by the latest data provided by the country’s statistics office, compared to 2016, when the growth rate stood at 2.5%. The Slovenian GDP accounted in 2017 for EUR 43.3 billion, increasing by 7.1% compared to the previous year. Several economic sectors had the highest impact on the local economy – such as the construction sector, which stands out as the main contributor. Our team of Slovenian lawyers can advise businessmen on how to register a company in one of the leading economic sectors available here.
According to the data provided by The Global Talent Competitiveness Index 2018, Slovenia is the leading jurisdiction amongst the Southeast Europe countries for retaining and attracting talent. The data was computed taking into consideration certain factors regarding employees’ competitiveness and Slovenia stands out as one of the main countries in this sense, as it benefits from a young workforce. Our team of Slovenian lawyers can assist investors with more details on the local workforce and may advise on the employment regulations applicable by the local institutions.
Slovenia is amongst the top 25 global jurisdictions for the future of manufacturing production, as revealed by a study presented at the World Economic Forum. The study – The Readiness for the Future of Production Report 2018 - analysed 100 countries on the manner in which they are prepared to face the field of manufacturing production in terms of the fourth industrial revolution that will include new technologies. Our team of lawyers in Slovenia can advise foreing businessmen on the regulations applicable at the moment to manufacturing companies.
At the level of November 2017, Slovenia exported goods with a total value of EUR 2.576 billion. This marked an increase of 16.2% compared to the same month of 2016. Most of the export activities carried out from Slovenia were completed with other entities located in the countries of the European Union (EU). The data provided by the Slovenian Statistics Office show that 81% of the total exports were traded with EU member states, which increased by 19.1% on a year-to-year basis, accounting for EUR 2,001 billion. Our team of lawyers in Slovenia can advise investors operating on this market on the regulations concerning trading operations.
Slovenia offers numerous investment opportunities in several economic fields. With a strong economy, more and more companies developed in the field of innovative products and services, one of the main sectors that will further increase in this country. By 2016, Slovenia recognized more than 7,000 innovators and 2,400 innovative products. At the level of 2016, the Slovenian Innovation Forum awarded prizes for innovative products that can be used in the fields of automotive or healthcare and our team of lawyers in Slovenia can assist with legal advice on the incentives available for innovative companies.
The unemployment rate in Slovenia marked the lowest value registered in the last eight years. In the third quarter of 2017, the unemployment rate reached 6.3%, as stated by the Statistical Office of the Republic of Slovenia, registering a similar value with the one in the third quarter of 2009 (6.2%). At the level of September 2017, there were 66,000 unemployed persons and, at the moment, the companies in Slovenia declared that 16,500 new jobs will be created on the local market in the first half of 2018. Our team of Slovenian lawyers can assist with legal advice on the employment regulations applicable here.
Slovenia offers an attractive business climate for investments performed by both local and foreign businessmen. The local government is constantly imposing new measures to support the innovation of the Slovenian business market, the inflow of foreign direct investments or the development of the companies’ productivity. One of the top advantages of the Slovenian market, compared to other European jurisdictions, is the local support for the investments in the field of research and development and our team of Slovenian lawyers can assist foreign businessmen with in-depth legal advice on the legislation referring to this sector.
The forecast on the Slovenian gross domestic product (GDP) was drastically revised by the International Monetary Fund (IMF). The projections for 2017 have been modified from the previous estimate of 2,5% to 4%, revealing a more solid economy. More importantly, the projections for 2018 were increased from 2% to 2,5%. The data was confirmed in the latest edition of the World Economic Outlook, provided by the IMF. Investors interested in starting a business here are invited to find out further information on the policies provided by the local goverment for investment purposes from our team of lawyers in Slovenia.
By 2030, the Slovenian government will impose new regulations for the transportation system. Through the new rules, vehicles which run on alternative fuels will be better represented on the local market, while the classic types of vehicles (running on diesel and petrol) will be banned from registration. Companies selling vehicles running on classic types of fuels should know that the local legislation does not strictly prohibit the registration, but the regulations for the car’s carbon footprint allow at the moment only the registration of eco-friendly vehicles. Our team of lawyers in Slovenia can offer in-depth information on the legislation related to the local transportation system.
New state aid regulation was adopted in Slovenia by the local authorities with the aim of supporting companies and cooperatives in financial difficulty. According to this new law, the Slovenian companies which face economic problems can access support mechanisms without notifying the European Commission. Our lawyers in Slovenia can give you an in-depth presentation of the provisions of this new state aid regulation.
The Statistics Office in Slovenia announced an expansion of the economy by 4.4% in the second quarter of the year compared to the same quarter in 2016. Exports, domestic consumption and household expenditures are accounted for the strong economic growth in Slovenia in Q2. These figures have surpassed the IMF expectations about the economic growth of Slovenia in 2017. Our team of Slovenian lawyers can give you details about the business legislation in any sector of the economy.
The tourism industry in Slovenia can offer attractive business opportunities, as the number of tourists is increasing. Investors interested to start a business in Slovenia in this field should know that the employees working in the coastal regions of the country are expecting a large number of foreign visitors, especially in the most famous coastal cities. Our team of lawyers in Slovenia can offer more details on the necessary permits that can be required when operating in this field, depending on the company’s business activities.