The AmCham Investment Committee is committed to ensuring a competitive business environment in Slovenia that is both predictable and stable and guarantees legal certainty and transparency for all domestic and foreign investors. Slovenia has an excellent geostrategic position at the “heart of Europe” and the potential to become the first choice for investors entering EU markets.
AmCham Investment Committee
Key areas of the Committee’s work
The activities of the AmCham Investment Committee are aimed at providing a predictable and friendly business environment for both domestic and foreign investors.
A Predictable and Stimulating Business Environment
The key to attracting domestic and foreign investors is a business environment that offers stability, predictability, legal certainty, and transparency. We are committed to ensuring that legislative changes that affect the business environment are well thought out, strategic, and coordinated through dialogue with the business sector.
The Committee warns that all hasty and poorly thought-out interventions in the stability of the business environment (the introduction of new taxes, tax increases, amendment of regulations) spread distrust in the state and reduce international competitiveness. Legislative changes should be goal-oriented and well-argued and, at the same time, based on strategic consideration of their medium- and long-term impact.
The Committee firmly believes that a predictable and legally stable business environment is of key importance not only for the sustainable development of traditional sectors but also for promoting innovations in rapidly growing industries.
The AmCham Investment Committee will continue to advocate for a predictable and safe business environment that encourages investment and supports sustainable economic growth in Slovenia. Through our efforts, we hope to contribute to the creation of a business-friendly environment that promotes economic development and positions Slovenia as an attractive destination for both domestic and foreign investors.
Fewer Bureaucratic Challenges and More Efficient Decision-Making Processes
The Commission emphasizes that government services should be there to help both citizens and investors. Procedures for obtaining various types of permits must be clear, concise, and simple.
The Committee underlines the need for improved communication in procedures to obtain the various permits essential for domestic and foreign investors when setting up investments in Slovenia and, therefore, proposes the formulation of clear instructions or procedural routes for obtaining permits of various types.
The Committee also proposes the establishment of specialized interdepartmental project coordination groups to simplify the coordination of decision-making among different administrative bodies. The Committee emphasizes the importance of clear and consistent interpretation of regulatory frameworks since legal certainty and predictability are fundamental for stimulating the business environment. Overall, the Committee’s proposal aims to optimize decision-making processes, ensuring efficiency and transparency for investors in Slovenia.
Transposition of EU Legislation for Sustainable Economic Growth in Slovenia
In light of the Investment Committee’s warnings regarding the past approach of the Slovenian legislator, which often included stricter criteria than those required by EU directives, the Committee acknowledges the complexity of balancing improvement of the quality and competitiveness of the Slovenian business environment. However, it emphasizes the potential impact of such actions on Slovenia’s competitiveness and attractiveness for domestic and foreign investments.
The AmCham Investment Committee underlines the importance of a balanced, cooperative, and progressive approach to transposing EU legislation/regulations into Slovenia’s domestic law. In dialogue with various stakeholders and by advocating measures that support both environmental goals and economic competitiveness, we can contribute to the development of a regulatory environment that encourages sustainable growth and maintains Slovenia’s attractiveness as an investment destination.
Given the country’s size and the presence of different industries, Slovenia could turn the implementation of EU legislation to its advantage and become a “regulatory model” in strategic areas that are of key importance to it. This could be our competitive advantage.
Importance of Global Corporations for the Local Business Environment
Since the very beginning, more or less since the arrival of the first global corporation in Slovenia, its business environment has been inseparably linked to international companies. Global corporations bring knowledge, innovation, good practices, and high added-value jobs to the Slovenian business environment. Additionally, many Slovenian companies are either connected to or depend on these global corporations as partners.
The small market size, the high tax burden on labor resulting in an expensive workforce, and a business environment that is not the most favorable to foreign investors have led quite a number of international companies to close their offices in Slovenia over the past decade. This trend has been further exacerbated by the pandemic.
The consequences of a global corporation withdrawing from the market are manifold: the impact on the industry as a whole, the fact that the country ceases to be an important player in a specific industry, an end to the influx of knowledge and good practices, the reduction of the effect of corporate social responsibility (funding sports, culture, etc.), and the disappearance of high added-value jobs, among numerous other effects.
The presence of global corporations has a measurable impact on Slovenia’s economic prosperity and the attractiveness of the Slovenian business environment to foreign investors. The Committee sees a solution in a thought-out tax reform, the introduction of a development cap that will reduce the burden on high added-value jobs, better promotion of Slovenia as an excellent country for investors, and the promotion of the country in areas where we have history and an existing ecosystem, such as biotechnology and pharmaceuticals.
European Competitiveness
The single market is at the heart of the European economy, but its role as a driver of investment in the region is not always apparent. The Committee calls for a deepening of the single market and the renewal of the European integration dynamic. A well-functioning single market is the key to encouraging more investment and innovation in Europe, financing social security, providing resources for high-quality education, and making additional sustainable commitments. The European Union will have to focus on improving competitiveness by establishing a dialogue with industry rather than by continuing with excessive regulation. This dialogue should encourage environmental and social responsibility without overburdening with rules. Frequently contradictory rules hinder innovation and reduce attractiveness to investors. A responsible business sector wishes to guarantee social rights, but without cooperation between political decision-makers and industry, this will not be possible. A comprehensive strategy that stimulates innovation, maintains social balance, and establishes an efficient energy system will be the key to improving Europe’s competitiveness globally.
Committee members
Who are the members of the Committee?
See the full list of Committee members.
Join the AmCham Investment Committee
For all questions related to the Committee’s work, you can turn to our Committee coordinator Vida Dolenc Pogačnik, our COO and International cooperation director.
Vida Dolenc Pogačnik
COO and International cooperation director