Growing geopolitical risks also an opportunity
Escalating geopolitical risks are a potential drag on economic activity. However, they have also accelerated reshoring and the green transition, creating opportunities in foreign direct investments for countries such as Slovenia. This will be one of the main topics of discussion at this year's FDI Summit, held in Ljubljana on 28 February.
The central event in Slovenia when it comes to discussing development issues with the aim of improving the country's investment environment will be held at the School of Economics and Business.
The institution is hosting the event in cooperation with the Slovenian-German Chamber of Commerce in a bid to help "create conditions for an open business environment that attracts foreign direct investment".
A recent study conducted by the Vienna Institute for International Economic Studies (WIIW) shows that foreign direct investment brings many benefits for the countries of Central and Eastern Europe.
The participants will thus look for ways how Slovenia can utilise its potential in creating a favourable and stimulating work environment for highly qualified staff and, by attracting additional foreign investments, secure new skills, knowledge and technology to accelerate economic growth and improve prosperity.
The main topic will be the growing geopolitical risks in the world and Slovenia's position in this regard, as well as the major changes in the supply chains after the Covid-19 pandemic, which have also affected foreign direct investment.
Supply chains are being regionalised, meaning that companies are looking for suppliers closer to the end markets. "The reasons are purely logistical, but they are becoming increasing geostrategic," says economist Mojmir Mrak.
Mrak, who will be among the speakers, added that this means many European multinationals are bringing their supply chains back to Europe, which creates business opportunities for European countries, Slovenia included.
The event will discuss how Slovenia can take advantage of these opportunities, which also requires institutional change that creates a more favourable business environment, development of infrastructure, and enough highly qualified staff.
The speakers will include the ministers of finance, economy and higher education, Klemen Boštjančič, Matjaž Han and Igor Papič, several prominent Slovenian business executives, and representatives of German investors in Slovenia.
The event will be livestreamed at https://youtube.com/live/LfXCcGRjtlk?feature=share