Machinery (automotive and mechanical engineering)
Slovakia is one of the world leaders in the automotive industry, and in 2014, close to 1 million cars were produced in Slovakia. The automotive industry makes up 43 % of total industrial production in the country. There are three large car manufacturers in Slovakia, as Volkswagen’s plant in Bratislava was recently joined by PCA Peugeot (Trnava) and KIA Motors (Žilina). Business opportunities can also be found in the traditionally growth sectors of Slovakia: Machinery and precision engineering, metallurgy and metal processing, electronics and chemistry and pharmacy.

Energy & Cleantech The Slovak energy sector is marked by a high dependence on imported primary energy sources and dominance of nuclear power in production of electricity (55%). Renewable energy usage is at 9.7% of total consumption, with the target for 2020 being 14%, (and energy self-sufficiency by renewables by 2050). Energy intensity of the national economy is still high and above EU average (target is to reach EU average in 2020). The Slovakian Vision 2050 estimates a higher growth of energy service demand (heated floor space etc.) than in the EU-15 countries. The application of green and clean technologies is a priority both in the energy sector and in other industries. There is plenty of opportunities for business cooperation e.g. in treatment of drinking water, cleaning of sewage water, waste handling and usage of geothermal resources for industrial and medical purposes. Slovak companies are interested in cooperating with Finnish partners in the energy and gas sectors e.g. in complex turnkey deliveries of electric and thermal power plants (coal, combined gas and steam, and biomass).

ICT, R&D and start-ups Slovakia aims to transform its economy into a knowledge economy by the year 2020. This means re-structuralizing the main industrial sectors towards higher valued added production and more efficient production techniques. To this end, Slovakia is focusing strongly on support into R&D and higher value-added sectors, such as ICT, SSC and R&D projects. As part of this effort, new science parks and research centers will be built up next to the best Slovak Universities in 11 different locations across Slovakia. R&D investments are planned to focus i.e. on the steel industry, plastics research (biodegradable plastics and polymeric materials), automation, robotics and digital technologies.

The Slovak start-up industry has received increasing attention over the past few years and the community has been growing since 2010. Improvements to the ecosystem, such as co-working spaces, start-up funds and accelerators have contributed to a favorable ground for successful ventures. The industry also enjoys support from high up as Slovak President Andrej Kiska has profiled himself as a strong supporter of the field. During a recent visit to the USA, he opened the business accelerator Slovak American Innovation Center in San Diego. Successful Slovak start-ups include, which was bought by the American firm GoDaddy for USD 15 million in early 2013.

Healthcare industry: The Slovak healthcare and medical equipment market is extremely competitive. The healthcare system is still very much in the public sector, although the majority of pharmacies and health spas are now privately owned. Slovakia spends a relatively high portion of GDP on healthcare (8 % in 2014). Slovak medical device market will grow by 3.9 % over the 2015-2018. Slovakia is heavily reliant on imported medical devices despite the presence of an established medical device industry. Around 88 % of the medical device market is supplied by imports. These are largely supplied from Germany and other Western European countries. The country has a well-established export industry focusing on areas such as dentistry.

Slovak companies participating in the state visit of the Slovak President in Finland would like to offer internet-based platforms (connecting medical specialists willing to share their knowledge with patients globally), designs that produce blood purification devices, development of portable diagnostic instruments for health, and nutritional supplements in Slovakia.

Robotics: Research activities in the area of robotics in Slovakia are focused on the development of automatic control and their applications in the field of propulsion systems, robotics, energy, chemical and biological processes. The main targets are oriented on the methods for optimal management of complex systems and decentralized, adaptive, robust and predictive control. Currently, Slovakia is concentrated mainly on problems of network management and robust hybrid and computational intelligence methods in management.

The participants of the state visit of the Slovak President are concentrated in the solutions of product and technological innovations, process innovation, industrial automation, material innovation and biomedical engineering. They offer programming of industrial robots and design of robotic workplaces as well as manufacturing of high-precision reduction gears. Slovakia also would like to offer in its cluster the space for potential partners from the field of car industry, consumer electronics, measurement and control technology, drive, sensor and technology components, manipulation and robotic technology.

Cyber security: The National Security Strategy of the Slovak Republic highlights the need to adopt measures to reduce vulnerability of critical infrastructure elements with emphasis on information and communication systems. The Slovak Republic authorities will continue to work towards ensuring security and integrity of information and communication systems, in particular the systems that are essential for securing basic functions of the state. In addition, they will continue to cooperate with foreign partners in order to maximize the security of the systems of mutual communication and information exchange, in particular in the area of the transmission and protection of classified data.

The Slovak business delegation will be focusing on providing information technology services – server farm design, administration and penetration testing services, operation and security of information system, swift, banking applications, and antivirus solutions.

Source: Embassy of Slovakia & Sario


Invitation to meet Slovak companies at Finpro on October 21, 2015
More information here.

The Slovak-Finnish Business Seminar, Oct 22nd, 2015
More information here.