The Slovenia Times

Business execs optimistic about 2018

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Janez Škrabec, the boss of engineering company Riko, said that Slovenia had a completely different economy after the crisis. Now, micro, small and medium-sized companies are becoming the backbone of the economy. He also said it was important that Slovenia had managed to preserve social cohesiveness.

NLB CEO Blaž Brodnjak said that healthy economic growth can be expected in 2018 unless there are any major global geopolitical shocks. But in the long term, Slovenia should think about ways to change its economy in order to increase value added.

Slovenia's economy is based on companies that supply half-products, which is a cause for concern, said Brodnjak.

Sibil Svilan, the boss of SID exports and investment bank, echoed Brodnjak's view, adding that value added in Slovenia was growing in low-tech sectors.

Brodnjak also believes Slovenia needs to reform its tax and education systems, and to change its labour legislation and reform healthcare.

Svilan added that Slovenia is very dependent on the EU and that the country should diversify exports. "Competition doesn't sleep and unless we react fast, we can find ourselves in an unfavourable position, being an export economy."

Žiga Vavpotič, the boss of Outfit 7, the developer of the popular Talking Tom app, also called for change.

His company employs 220 people in Slovenia. But having a global owner means the company could be moved more easily if the existing business environment fails to encourage development and growth, said Vavpotič, referring to the company's Chinese owner.

Škrabec was more positive. Slovenia has many successful companies and is among the best in the world in terms of talent development. It should not rest on its laurels, "but we must admit that we are better off than we were five years ago".

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