Industry Insights on Central Europe Market in Post Pandemic EraBusiness Operation Challenges and Strategies for Chinese Companies 01 — Overview of The Central European Market Known as the "heart of Europe", Slovakia has multiple identities as an important member of NATO, EU, Schengen area and the Euro zone. Huawei, ZTE, Lenovo and other Chinese enterprises consider it as a country worthy of long-term investment. An increasing number of Chinese companies are setting up entities, factories and R&D centers in Slovakia and exploring new possibilities for investment cooperation. Slovakia entered the ranks of developed countries in 2006 and specializes in the automotive industry. It offers a dynamic economic environment, well-developed transport infrastructure and stunning landscape. It links the important hubs and passages of Eurasian countries and is one of the countries along the route with the most advantages for China's "Belt and Road" initiative. Slovakia´s capital Bratislava is only a 50-minute drive to Vienna, Austria and 3 and half hour drive to Prague, Czech Republic. Czech Republic and Slovakia, bordered by Germany, Austria, Poland, Hungary and Ukraine, are both landlocked and economically developed countries in central Europe.
Slovakia not only has a pleasant climate, excellent geographical location and beautiful scenery, but also has unique advantages in entrepreneurship, healthcare, education and other welfare and immigration policies. There is potential for cooperation in trade, investment, logistics, scientific and technological innovation, tourism and many other areas. Slovakia has high-quality labor resources and offers a stable political environment. In terms of cross-border trade, Slovakia signed the "Belt and Road" Cooperation Memorandum with China as early as November 2015 as showed in the graphic below:
List of countries that signed Belt and Road MOU with China Preferential policies at the state level are available for investments in Slovakia, including cash subsidies, income tax relief, subsidies for job creation, transfer of real estate owned by the state or local government at favourable prices, and financial subsidies. Four types of investment projects (Industry, technology center, shared service center and tourism) can be supported. The Slovak government believes that new technologies such as industry 4.0, artificial intelligence, electric vehicles, 5G network construction, automation, Internet of Things, big data and block chain will become the new driving force for Slovak economic growth. It has accelerated digital transformation and formulated a series of new development strategies and action plans. This provides a rare opportunity for Chinese companies to invest and gain business opportunities in Slovakia. Due to the impact of COVID-19, economic growth slowed down in Central Europe. With the gradual easing of economic controls in May last year, Slovakia's economy has started to recover, with GDP growth expected to reach 6.8% in 2021. China Mofcom encourages qualified and competitive Chinese companies to explore new ways of outbound investment and achieve high-quality global development. As unstable and uncertain factors increase amid the pandemic, China's outbound investment cooperation is facing unprecedented risks and challenges. If you are planning to expand into The Czech Republic and Slovakia, we suggest that you seek the help of local experts to better navigate the diverse and complex Central European environment. 02 — SirmioneCG Outbound Service
SirmioneCG expert team has the local knowledge to help you invest and operate in Central Europe or use our newly set up Central European base as the entry point for tapping the authentic pan-regional business knowledge. Give us the trust and hire our SirmioneCG expert team as your networking springboard, insights maker and consultant across Central Europe and broader EU member states area.
Whether you want to set up a business, scale up or want to streamline your existing business, you are welcome to contact us for the following information:
Daniel Živica, Business Growth and Marketing Partner in Central Europe Founder of Lead Masters a consulting company® providing C-level Consultancy Services, based in Prague and Bratislava. Lead Masters is a contributing member and advocate of the EUTech Chamber. Daniel has extensive executive experience as Chairman and CEO while responsible for media and creative agencies VMLY&R Prague and WavemakerCZ/SK (previously known as MEC), a globally famous leading media agency network with clients' businesses telco, banking, finance and FMCG fields. Daniel specialises in building up relevant market propositions and marketing agency's solutions across digital marketing, media strategies, contract negotiations, marketing efficiencies and related business transformation and implementation. Recently, Daniel supported and led his clients on private-public funding communications projects with a broad national and social impact. For booking specific European Union economic area consultation, please contact SirmioneCG at info@sirmionecg.com or call 138 1028 4967 03 — SirmioneCG and Lead Masters forge the strategic partnership
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