The strategy was adopted by the government on Sunday after the concept had already been approved by the European Commission, which will now also need to give its formal consent.

The document plans EUR 656m development investments a year in 2016-2018, of which EUR 366m in public funds or EUR 455m including leverage in financial instruments, the Government Communication Office said after the session last evening.

The funds will be earmarked for research, development and innovation in value chains and networks, investment incentives, research infrastructure, researchers' research potential and international mobility; employees' expertise and skills, youth and creativity and optimising conditions conducive to business.

Non-financial measures will meanwhile target innovative and green public procurement, tax brakes, economic diplomacy and promotion, removal of regulatory obstacles and effective judiciary.

The strategy sets out three priority fields, which should affirm Slovenia as a "green, active, healthy and digital region with top conditions for creativity and innovation advancing development of mid- and high-tech solutions in niche fields".

One of the three priority fields is a healthy living and working environment. Listed are smart cities and communities with IT platforms and energy transformation, distribution and management; smart buildings and home with advanced residential units, management systems, smart gadgets, building materials and products.

A second priority is natural and traditional resources for the future. It includes networks for transition to circular economy through processing of biomass, development of new biological materials, technologies for the use of secondary raw materials and generation of energy from alternative sources.

Also listed under this priority field are sustainable food production, functional food production, sustainable tourism with IT-supported marketing and networking and investment in higher quality services.

The third priority is industry 4.0, a concept comprising factories of the future through production optimisation and automation, including enabling technologies and health; medicine with biopharmaceutics, translation medicine, cancer treatment, resistant bacteria, natural medicines and cosmetics.

The latter priority also includes mobility with niche components and systems for internal combustion engines, e-mobility and energy preservation systems, systems and components for safety and comfort and materials for the car industry.

The government would like to improve the economy's competitive position in global markets by 2023 by increasing expertise and technologies in Slovenia's exports, raising the share of high-tech products in exports to 26.5% from 22.3% and the share of high expertise services to 33% from 21.4%.

Another goal is raising the youth entrepreneurial activity from 11% to at least the EU average of 12.8%.