 Business Climate for Singaporeans
Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The Slovak government made progress in 2001 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and foreign investment has picked up. Slovakia's economy exceeded expectations in the early 2000s, despite recession in key export markets.
In October 2006, the President of Slovakia and Singapore signed an investment pact. He also outlined what are the areas Slovakia was looking for in terms of investments and participation by Singaporeans.
( A report of the speech is to be found in a Channel News Asia webpage. )
However, even before the visit of the Slovak President to Singapore in search of Singaporeans to participate in the growth of their country's economy, ABS has already been in preparation of the first ever business mission into Slovakia ( as well as the Czech Repubic ) which was then carried out in March 2007, and endorsed by the Presidents of Slovakia and the Czech Republic. A report of this trip can be found here and the next trip is currently being organised for Sept. 2007. For details, do .
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