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Slovenia, Visit of Hong Kong’s secretary of commerce

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Slovenia

Visit of Hong Kong’s secretary of commerce

Slovenia signed with Hong Kong a memorandum of understanding on cooperation regarding wine trade.
Accordingly, they will work to facilitate wine trade.
The aim of the Hong Kong secretary visit was not only the increase of wine trading but also to build a better cooperation also in economy and investments in general.
About the Slovenian wine, he said “this wine is perfect. It has a full, very fruity taste. Teran is the right wine for our market.”
In 2016 Slovenia imported wine worth 1.4bn euros and exported more than half a billion’s worth to China.
Slovenian Minister Židan said also that there is also a lot of potential in tourism, economy and investment with Hong Kong and that concrete proposals will follow in the next few days.
Židan also hopes that Hong Kong will use Slovenia as the door to enter the EU.
On Monday, the Hong Kong Trade and Economic Development Office, the Slovenia Times, and JT Business Development will organize an event to promote business ties with Hong Kong.
(Source: The Slovenia Times)

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Slovenia

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Employment’s outlook hits new record high in Slovenia
Per Manpower Slovenia’s employment outlook for the second quarter of the 2016 reaches a new all-time high.
Slovenian employers reporting the most upbeat hiring plans as the third strongest world-wide.
28% of Slovenian employers have projected an increase in staffing levels while the 68% expect no change and only 1% anticipate a decrease.
Thus, the net employment outlook stands at +22%.
All the ten industry sectors in Slovenia expect a hiring increase: + 33 for the manufacturing sector, + 30% within construction field, + 23% in hotel, restaurants and related sectors.
Talking about the global situation, the second-quarter hiring confidence is strongest in Taiwan, Japan, Slovenia and India. The weakest data are to be found in Brazil, Italy, Belgium and Switzerland.
(Source: T. S. T.)

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Slovenia

Alessandro_PasutSlovenia

NLB Bank Sale/Meeting with the European Commission

The Slovenian Government is committed to sell NLB by the end of 2017 in the environment of the restructuring plan that served as a basis for the European Commission’s approval of state aid to the bank in the 2013 bailout. So there is no official request by the Government to the European Commission to get an extension (as the Slovenian media have been telling for months).
This is at least what was said by Vraničar Erman who took over as Slovenia’s finance minister in September.
She  and the European commissioner agreed on continued close cooperation to ensure that the commitments were respected to the maximum extent possible.
The Finance Ministry points that the goal of selling the NLB (after it also Abanka) was to maximize the return of funds that the state invested in the repair of both banks.
The minister said Slovenia today did not propose an extension of the deadline for the sale of NLB, but continued with the planned procedures and there is the will do achieve such goal without any extension of the agreed deadline.
The above also considering that for an extension of the deadline the European commission would certainly ask a straining of other commitments in exchange.
After the meeting the European Commission’s comment was that the commitment of the Slovenian authorities remain that to put forward the restructuring plans of NLB until December 2017, and that will monitor and remain in contact with the Slovenian representatives.
(Source: The Slovenia Times)

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Slovenije

Alessandro_Pasut_4Telekom Slovenije plans broadband growth and consolidation in the Balkans


The supervisors of Telekom Slovenije drafted the business strategy for 2017.
They plan the consolidation in the group’s markets, an expansion of its fibre-optic network and growth in the number of broadband and IPTV connections.
They also think about the optimization of processes and IT infrastructure, new sources of revenue, staff restructuring, financial stability, quality and social responsibility.
In 2017, the state-owned telco expects EUR 717.8m in business revenue.
For the period until 2021, the company is to continue especially with accelerated digitalization,
Telekom will meanwhile also pursue the maintenance of financial stability consolidation on the markets where the group is already present.
The group, which is also working in Kosovo, Bosnia-Herzegovina, Croatia, Serbia, Montenegro and FYR Macedonia, plans accelerated consolidation in these markets, either in the form of expanding its operations or by selling its participating interests.
Source: The Slovenia Times

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Slovenia’s economy grows

Alessandro_PasutSlovenia’s economy grows by 2.7% y/y during the 2nd quarter

The rate of 2.7% is for Slovenia the one of economy’s growth in the second quarter of the 2016 according to the Statistics Office.
Taking into consideration season and working days, the Slovenian GDP was up in the second quarter by 0.5%.
In real terms, the economy grew at an annual rate of 2.5% in the first half of the year.
The main factors that contributed to such growth were manufacturing (1.7%) together with commerce, hospitality and real estate (0.9%).
The growth in GDP was also caused by exports rising by 7.5% (both goods and services)
Within other factors is to register that Gross investments in fixed assets were down by 3.6% due to a drop in investments in buildings and other structures (-18%).
Investments in equipment and machinery were meanwhile up by 13.2%.

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