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2003

2004

2005

2006

2007

2008

2009

Slovakia

2.2

3.3

3.7

7.6

3.5

3.4

- 0.5

Hungary

0.6

3.3

4.7

5.4

1.1

3.1

- 0.3

Poland

2.0

4.7

2.1

5.7

3.4

2.4

1.9

Czech Republic

2.1

3.7

8.1

4.2

4.5

4.1

0.7

A driving force behind the pre-economic crisis FDI has been primarily the investor-friendly policies adopted by the Slovak government. The next general elections are due in June 2010 and the political balance of power may shift as a result of the economic crisis.

In 2008 Volkswagen announced they are to invest over EUR 300 million in a new car production plant in Bratislava. From 2011 the plant will build Volkswagen’s next generation small family car - the UP!. This is an extremely positive development at a time when the international economic downturn reduced FDI in EU27 countries by 57% in 2008. Slovakia is not immune to the downturn but entry to the Eurozone in 2009 and a cheap, flexible and skilled workforce still offers an attractive environment for investors.

FDI net (% GDP)

TABLE 1

Industrial production

42.3

n/a

27.2

Financial services

18.5

n/a

- 9.6

Wholesale, retail trade

8.4

n/a

4.3

Electricity, gas and water supply

19.6

n/a

4.1

Transport, storage and communications

5.5

n/a

-1.1

Real estate

3.8

n/a

1.5

Construction

1.2

n/a

0.7

R&D including technical services

n/a

72.1

Other activities

0.5

n/a

0.8

Source: National Bank of Slovakia; 2008*: No details on 2008 inflows as regards economic activity were published

18

©2010 KPMG Slovensko spol. s r.o. , a Slovak limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

2007 2008*

Q1 – Q3 2009

(cum. inflow)

(YTD inflow)

Source: World Bank E10 Regular Economic Report, April 2010

FDI in by economic activity (in %)

TABLE 2

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