CCIS NEWS - October Slovenia Business Link Newsletter

October 2019

CCIS NEWS

Innovation Day 2019: Eight golden awards and two special awards for startup company

In the scope of Innovation Day on 25 September, the Chamber of Commerce and Industry of Slovenia (CCIS) awarded for the 17th time certificates of recognition to the most innovative companies and innovators in companies and public research institutes. Eight golden awards, two special awards for a startup company, 26 silver and four bronze awards, four awards for a contribution in the field of innovation and two special awards for development and innovative cooperation between the industry and knowledge institutions were awarded at the national finals, where at the regional level, 199 innovation proposals were submitted and over 1,000 innovators and innovation teams participated. The best innovation of the year chosen by the public also received an award. The CCIS’s national award for the best innovation is the highest recognition of innovation achievements of Slovenian companies and it promotes innovation in Slovenia.

Memorandum on cooperation between the CCIS and the Council of Saudi Chambers signed

On 30 September, over 40 Slovenian and Saudi businessmen attended the forum organised by the Chamber of Commerce and Industry of Slovenia upon the visit of the Saudi business delegation in Ljubljana. A memorandum on cooperation between the CCIS and the Council of Saudi Chambers was signed.

Slovenian-Japanese Business Forum: in search of new opportunities for cooperation

On 4 October, more than hundred Slovenian and Japanese businesspeople attended this year's bilateral business forum at the Chamber of Commerce and Industry of Slovenia. Japan can serve as an example in many areas of the Slovenian economic and social development, stated CCIS President Boštjan Gorjup. Furthermore, he hopes that more Japanese businesspeople would recognise Slovenia as a reliable business and development partner just as Toyota, Yaskawa, Sumitomo, Daihen, Mitsui, Kansai and others already did. He also discussed strategic development and innovation partnerships and presented some good practice examples.

Administrative Board of the CCIS on health care and social dialogue

At a meeting on 8 October, the members of the Management Board of the CCIS and the Minister of Health discussed current events in the field of health care and the Ministry’s plans in the current mandate. Board members also addressed the field of social dialogue.

21st Congress of Providers of Accounting Services

On 10 and 11 October during one of the biggest and most important educational and social events of the accounting industry in Slovenia, lecturers from various fields shared their knowledge, experience and ideas with attendees from different companies and accounting services. The slogan of this year’s congress was ‘The right information at the right time’ as in times of rapid changes, customers expect more knowledge and a higher level of expertise from accounting services as well as the latest news that can help them make important business decisions. Furthermore, certificates Expert head of accounting service were awarded.

SRIP MATPRO with an excellent journey into the third phase of operation

Representatives of the Strategic Development and Innovation Partnership Materials as Finished Products (SRIP MATPRO) presented a modular composite education programme at the conference titled "Connecting - the key to competitiveness and human resources" on 17 October. After receiving the highest-rated mid-term evaluation of all SRIPs, the partnership already has new goals that focus on R&D, HRM, internationalization and sustainable functioning of all SRIP stakeholders.

UPCOMING EVENTS

24 October: Meetings with Maritime Cluster Northern Germany in Kiel, Germany

MEER KONTAKTE is a networking fair organised by MCN - Maritime Cluster Northern Germany. During the fair, exhibitions, lectures, presentations, visits, and thematic workshops with participants from business, politics, and research will take place. The attendees will have an opportunity to establish new business contacts at the networking that is organised by EEN on 24 October 2019, visit head offices and even the shipyard German Naval Yards Kiel.

6 - 7 November: Economic delegation visits NORWAY

Representatives of Slovenian companies and research institutes are invited to the scientific business conference, which is being organised in Oslo in cooperation with the multidisciplinary research institute SINTEF upon the state visit of the President of the Republic of Slovenia Borut Pahor on 6 and 7 November 2019 in Norway. The main topics of the conference will be artificial intelligence, robotics, circular economy and sustainable mobility. The purpose of the conference is to present achievements of research institutes and companies from both countries, and to establish contacts between Slovenian and Norwegian institutes and companies.

7-8 November: 30th Conference on real estate business

The conference is primarily aimed at reviewing and assessing the housing and real estate situation in the country. At the same time, it presents opportunities for informing all interested parties about activities for the implementation of the adopted legislation and for finding answers to some of the major issues facing the housing or spatial policy of the country.

12 - 13 November: Subcontractor Connect 2019, Sweden, Jönköping

If you would like to meet purchase decision-makers of Volvo Cars, Scania, CERN, Trelleborg Industrial Solutions, Toyota Material Handling Manufacturing, Fläkt Woods, SKF individually and in one place, you are kindly invited to the organised B2B and B2R&D meetings in the scope of the largest northern European fair of industrial subcontractors, which is being organised by the partners of the Enterprise Europe Network.

14 - 15 November: Public invitation for companies to attend meetings with agents in Milan 

The Chamber of Commerce and Industry of Slovenia, the Ministry of Foreign Affairs or embassies and consulates in Rome and Milan, as well as SPIRIT Slovenia are organising the participation of Slovenian companies at the business meeting FORUM AGENTI in Milan this year again, where meetings with Italian agents and representatives will take place .

19 November: GoDigital – Data and AI

The conference will bring together the views of leading analytics companies on global trends, the European Commission's perspective, solution providers and companies that have already begun to include AI in their business processes.

20 November: 14th Slovenian Business Summit

Last year, measures for successful economic excellence were presented. This year, we are facing new challenges that come from the global environment. At this year’s Slovenian Business Summit, we will discuss how we are preparing ourselves for these challenges and how they are preparing for them in our biggest foreign trading partner Germany.

DATA SECTION

Trade wars with rising prices for the entire world

The IMF estimated that indirect effects of the trade war between China and the USA are greater than the direct ones, and that they are increasing. Even though it is hard to quantify the loss of economic confidence, it is supposed to be seen in the lack of investments and a decreasing amount of supplies. Thus next year, the global GDP is supposed to increase for 0.8% of GDP less than usually. Global economic growth will become more driven by the demand of national economies. The new IMF Managing Director Kristalina Georgieva proposed addressing justified allegations about the abuse of the trade arrangements and more free trade for services and e-commerce as a solution. Such recommendations were expected and consistent with the ownership interests of nations in the IMF capital.

Lower IMF forecast for Slovenian economic growth

The slowdown of the economic growth in the international environment is mainly the consequence of increased risks due to trade tensions, especially the trade war between China and the USA that affect the rest of the world including Europe, as well as low productivity growth and ageing of the population in the developed world. Forecasts for the GDP growth for 2020 for the euro area and Slovenia are significantly lower than the previous ones. The global growth in 2019 is supposed to be 3%, which is the lowest level since 2008-09, and 3.4% in 2020. In line with the risk for the EU, the IMF forecasted a 2.9% economic growth for Slovenia in this year and in 2020. The forecast was decreased from 3.4%. In Slovenia, the inflation in 2019 is supposed to be 1.8% and 1.9% in 2020. Despite the slowdown, the survey unemployment rate is supposed to decrease to 4.5% in this year and in 2020.

Companies have lower expectations than last year

According to the September survey of the group SKEP of the CCIS “European Survey of Economic Environment in 2020”, the surveyed companies have rather optimistically rated the key business parameters (sales, investments, etc.) for 2020, while they believe that the general conditions for their business operation will worsen. They are the most optimistic regarding the forecast of export sales as the percentage of the companies that expect export growth is larger than of those that expect the export decrease (cumulative balance +22 percentage points). The companies are a little less optimistic about the sales on the domestic market, where they will still record growth. The key challenge for business operation in 2020 will be labour costs as a 6.1 percent increase of the minimum wage was adopted, the minimal contributions are increasing and all allowances and performance bonuses will be excluded from the minimal wage. In last year’s September survey, the key challenge for business operation in 2019 was the lack of experienced workers. This challenge was just as important as the weak domestic demand.

Below you will find some statistical data for Slovenia:

Growth rates in % - in comparison to the same period of previous year

Latest data

GDP – real growth

2.5

2.q 2019, S.A.*

GDP – forecast for 2019**

2.9

Apr. 2019

Consumer prices (HICP)

1.7

Sept. 2019

Export of goods

4.9

Aug. 2019

Import of goods

4.3

Aug. 2019

Industrial production (manufacturing)

0.8

Aug. 2019

Retail sales w/o motor fuels (real)

4.3

Aug. 2019

Construction (real)

-7.5

Aug. 2019

Exchange rate EURO/USD

1.1004

Sept. 2019

Diesel (EUR/liter), VAT incl.

1.263

Valid from Oct 8th, 2019

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