FDI Summit Slovenia Conclusion Paper 2012

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Conclusion paper from the third FDI (Foreign Direct Investment) Summit Slovenia 2012

Recognising the new reality and implementing measures are WKH ÀUVW VWHSV WR UHJDLQLQJ FRQÀGHQFH

Daily news that matter on www.sloveniatimes.com In-depth stories, interviews that help you understand Slovenia and the region The Slovenia Times Magazine

Conclusion paper from the third FDI (Foreign Direct Investment) Summit Slovenia 2012

Recognising the new reality and implementing measures are WKH ÀUVW VWHSV WR UHJDLQLQJ FRQÀGHQFH

FDI Summit 2012 Conclusion Paper Published by The Slovenia Times Prepared by Tilen Majnardi, M. Sc. Ljubljana, November 2012

)', 6XPPLW 3URĂ€OH The FDI (Foreign Direct Investment) Summit 2012 Slovenia was a major international business event focusing on foreign direct investment and FXUUHQW GHYHORSPHQW LVVXHV VSHFLĂ€FDOO\ WKH PHDVXUHV IRU JHQHUDWLQJ growth in the current volatile European and global economic environment. The theme of the summit was “From Rhetoric to Implementationâ€? to highlight that endless and often self destructive political discussion is not what Slovenia needs but rather immediate action in terms of active economic policy and adoption of crucial structural changes. The 2012 summit was held in Ljubljana at the Faculty of Economics from 19-20 September 2012 with around 40 speakers participating in nine round table discussions and with 200 participants from Slovenia and abroad attending. The ‡ ‡ ‡ ‡ ‡ ‡

conference speakers and participants included: UHVSHFWHG LQWHUQDWLRQDO DQG GRPHVWLF H[SHUWV &(2V RI GRPHVWLF DQG IRUHLJQ FRPSDQLHV NH\ UHSUHVHQWDWLYHV RI JRYHUQPHQW LQVWLWXWLRQV UHVSRQVLEOH IRU shaping the business environment, H[LVWLQJ DQG SRWHQWLDO IRUHLJQ LQYHVWRUV UHSUHVHQWDWLYHV IURP EXVLQHVV DQG HFRQRPLF LQVWLWXWLRQV ERWK foreign and domestic, GLSORPDWLF UHSUHVHQWDWLYHV IURP VHYHUDO FRXQWULHV

The organiser of the conference was The Slovenia Times in partnership with the Faculty of Economics, University of Ljubljana. The conference programme was prepared by a steering committee comprising Brane .UDMQLN DQG 7LOHQ 0DMQDUGL &(2 DQG WKH Editor-in-Chief of The Slovenia Times; Christof Droste, Managing Director of Hella Saturnus and Slovenian Manager of the Year 2011; Thierry Villard, Managing Director, Goodyear Dunlop Central & South East Europe; and Professor DuĹĄan Mramor, Dean of the Faculty of Economics, University of Ljubljana.

Professor DuĹĄan Mramor, Dean of the Faculty of Economics, University of Ljubljana. FDI Summit 2012 Conclusion Paper

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Platform of the Conference

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FDI Summit 2012 Conclusion Paper

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FDI Summit 2011 Conclusions

Slovenia´s performance

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FDI Summit 2012 Conclusion Paper

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FDI Summit 2012 Conclusion Paper

Programme Structure of the Conference 7KH PDLQ JRDO RI WKH FRQIHUHQFH ZDV WR SUHVHQW D YLHZ RI WKH 6ORYHQLDQ (FRQRP\ IURP D FULWLFDO GLVWDQFH UHYLHZLQJ WKH DFWLYLWLHV DQG VWUDWHJLHV RI WKH *RYHUQPHQW SUHVHQWLQJ EHVW SUDFWLFH FDVHV DQG WKHQ GHÀQLQJ WKH QHFHVVDU\ VWHSV IRU WKH QH[W \HDU DQG H[SORULQJ DOWHUQDWLYH GHYHORSPHQW FRQFHSWV QHZ GHYHORSPHQW SDUDGLJPV DQG GUDZLQJ FRQFOXVLRQV

Panels of FDI Summit Slovenia 2012 Day 1 ‡ ‡ ‡ ‡

Slovenia as Seen From a Critical Distance :KDW 'RHV 6ORYHQLD 'R :HOO DQG +RZ &DQ WKH 6NLOOV EH 8VHG IRU WKH )XWXUH" 6WUDWHJ\ IRU WKH ,QWHUQDWLRQDOLVDWLRQ RI WKH 6ORYHQLDQ (FRQRP\ LQ &KDQJLQJ *OREDO &RQGLWLRQV 7UDQVLWLRQLQJ WR D +LJK 7HFK +XE ,QLWLDWLQJ 6WUDWHJLF ,QYHVWPHQWV RQ WKH %DVLV RI 6ORYHQLD·V 5HDO &RPSHWLWLYH $GYDQWDJHV DQG 3RWHQWLDO

Day 2 ‡ ‡ ‡ ‡ ‡ ‡

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FDI Summit 2012 Conclusion Paper

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Round Table Highlights

Slovenia as Seen From a Critical Distance

Thierry Villard, Managing Director, Goodyear Dunlop Central & South East Europe ´,I , P D SRWHQWLDO IRUHLJQ GLUHFW LQYHVWRU WR 6ORYHQLD WKH ÀUVW WKLQJV WKDW , P JRLQJ WR ORRN DW DUH LV WKH FRXQWU\ ZHOO ORFDWHG ² \HV KDV WKH FRXQWU\ WKH ULJKW LQIUDVWUXFWXUH ² \HV KDV WKH FRXQWU\ WKH ULJKW OHYHO RI TXDOLÀFDWLRQV HGXFDWLRQ RI WKH ODERXU IRUFH ² \HV KDV WKH FRXQWU\ WKH QHFHVVDU\ ÁH[LELOLW\ LQ WHUPV RI ODERXU ODZ ² SUREDEO\ QRW KDV WKH FRXQWU\ WKH ULJKW OHYHO RI XQGHUVWDQGLQJ IRU WKH QHHGV RI IRUHLJQ LQYHVWRUV DQG WKDW IRUHLJQ LQYHVWRUV DUH DQ RSSRUWXQLW\ QRW D WKUHDW ² , GRQ W WKLQN WKDW ZH DUH there yet”

Klaus Holeczek, COO, odelo Group ´$W WKH HQG RI WKH GD\ DOVR LQ WHUPV RI WKH VWDWH \RX KDYH WR PDNH VRPH EHQFKPDUNV OLNH ZH GR LQ SURGXFWLRQ \RX PXVW JR RXW \RX KDYH WR VHH ZK\ IRU H[DPSOH LQ 7XUNH\ LV VRPHWKLQJ HDVLHU WR GR ZK\ WKLQJV SURFHGXUHV DUH PRYLQJ IDVWHU $ ORW RI WKLQJV DURXQG WKH ZRUOG DUH WKHUH DQG FRXOG EH DOVR JRRG IRU \RXU FRXQWU\ 2XU FRPSDQ\ VORJDQ LV JR DQG VHH DQG EHQFKPDUN RXWVLGH OHDUQ IURP WKHP DQG GR LW EHWWHU 7KLV FDQ EH DOVR DSSOLHG WR WKH state”

Rudolf Klötscher, Executive Vice President Eastern Europe, BSH Bosch and Siemens Home Appliance Group ´,I VRPHERG\ DV D UHVSRQVLEOH SXEOLF ÀJXUH D SROLWLFLDQ LV QRW OLYLQJ KLV OLIH DV D UROH PRGHO IRU WKH VRFLHW\ IRU H[DPSOH ZH DUH QRZ KHUH DW WKH )DFXOW\ RI (FRQRPLFV DQG IURP KHUH KRSHIXOO\ ZLOO FRPH WKH WRS IXWXUH 6ORYHQLDQ PDQDJHUV ² LI HYHU\GD\ WKH\ VHH WKH ZURQJ PRGHO RI EHKDYLRXU RI WKH UHVSRQVLEOH SHRSOH LQ SROLWLFV WKH HFRQRP\ DQG RWKHU SDUWV RI WKH VRFLHW\ WKHQ IRU VXUH LW ZLOO EH YHU\ KDUG WR FRQYLQFH WKRVH \RXQJ SHRSOH ZKHQ WKH\ JURZ XS WKDW WKH ULJKW EHKDYLRXU LV GLIIHUHQW IURP WKDW WKH\ ZHUH REVHUYLQJ DQG IDFLQJ IRU WKH ODVW \HDUV LQ 6ORYHQLDµ

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FDI Summit 2012 Conclusion Paper

Round Table Highlights

What Does Slovenia Do Well and How Can the Skills be Used for the Future?

Janusz Miluch, General Manager, Lafarge Cement ´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situation”

Saša Bavec, CEO, Knauf Insulation, Slovenia ´,Q ZKHQ WKH FULVLV GUDPDWLFDOO\ KLW WKH FRQVWUXFWLRQ VHFWRU ZH RYHUQLJKW ORVW RI WKH RUGHUV :H KDG GLIIHUHQW RSWLRQV WR FRPSHWH RQ WKH PDUNHW ZLWK WKH FXUUHQW SURGXFWV ORZHU SULFHV YROXPHV EXW ZH IRXQG WKDW ZH FRXOG QRW FRPSHWH RQ WKH PDUNHWV ZLWK ORZHU SULFHV EHFDXVH 6ORYHQLD LV QRW D YHU\ FKHDS FRXQWU\ IRU SURGXFLQJ WKLQJV VR E\ ORZHULQJ SULFHV ZH ZRXOG MXVW QRW EH SURÀWDEOH DQ\ PRUH 6R ZH GHFLGHG WKDW ZH ZRXOG ORRN DW RXU SURGXFWV VHH ZKDW ZH FRXOG FKDQJH ZH DVNHG RXUVHOYHV ZKDW RXU FXVWRPHUV GLGQ W OLNH DERXW ZKDW ZH ZHUH GRLQJ :H ÀUVW VWDUWHG ZLWK VPDOO DQG WKHQ ZLWK ELJJHU LPSURYHPHQWV DQG ZH VXFFHVVIXOO\ FRPSHQVDWHG IRU WKH ORZHU prices of the competition”

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FDI Summit 2012 Conclusion Paper

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Round Table Highlights

Strategy for the Internationalisation of the Slovenian Economy in Changing Global Conditions 5DGRYDQ æHUMDY Minister of Economic Development and Technology ´)RU PH DV WKH 0LQLVWHU UHVSRQVLEOH IRU WKH HFRQRP\ IRUHLJQ GLUHFW LQYHVWPHQWV DUH RQH RI WKH NH\ SRWHQWLDOV WR ERRVW QHZ JURZWK LQ 6ORYHQLD 7KH JRYHUQPHQW KDV GRQH D ORW WR SURPRWH IRUHLJQ GLUHFW LQYHVWPHQW WKLV \HDU DQG DOVR WR LPSURYH WKH EXVLQHVV HQYLURQPHQW LQ 6ORYHQLD 6RPH LQYHVWRUV DOVR FOHDUO\ VDLG WKDW WKH HQYLURQPHQW IRU LQYHVWPHQWV LQ 6ORYHQLD LV LQ WKLV PRPHQW DW WKH KLJKHVW OHYHO WKDW KDV QHYHU EHHQ EHIRUHµ

Professor Dušan Mramor, Dean of the Faculty of Economics, University of Ljubljana ´,Q WKHRU\ IRU JRRG FRPSDQLHV LQ 6ORYHQLD LW VKRXOG QRW EH D SUREOHP WR JHW QHZ FDSLWDO KRZHYHU WKH YDOXH RI D FRPSDQ\ DFFRUGLQJ WR WKH UHVHDUFK JRHV VRPHWKLQJ OLNH WKLV DSSUR[ ² RI WKH YDOXH RI WKH FRPSDQ\ FRPHV IURP WKH HQYLURQPHQW HFRQRPLF VLWXDWLRQ LQ WKH HQYLURQPHQW DSSUR[ IURP WKH LQGXVWU\ ZKHUH WKH FRPSDQ\ RSHUDWHV DQG WKH UHVW IURP WKH FRPSDQ\ LWVHOI 6R LW LV RI UHDO LPSRUWDQFH WR JHW WKH HFRQRP\ ULJKW DQG WKHQ WKHUH ZLOO EH QR SUREOHPV ZLWK WKH FDSLWDO , WKLQN WKDW WKH PDLQ IRFXV VKRXOG EH QRW QXPEHU EXW QXPEHU WKH EDQNLQJ V\VWHP DQG JHWWLQJ WKH ÀQDQFLDO V\VWHP ULJKWµ

Ren Hongbin, Executive Vice President, Chinese Academy of International Trade and Economic Cooperation (CAITEC) ´$FFRUGLQJ WR RIÀ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µ

0DWMDç 5DNRYHF CEO, Triglav ´, FDQ VD\ WKDW GHÀQLWHO\ LQ 6ORYHQLD \RX FDQ ÀQG JRRG FRPSDQLHV ZLWK FOHDU JRDOV DQG VWUDWHJLHV EXW ZH QHHG DGGLWLRQDO FDSLWDO 8QIRUWXQDWHO\ WKH JRYHUQPHQW LV D RZQHU RI 7ULJODY DQG IRU RXU IXWXUH ZH QHHG FDSLWDO DQG QRW MXVW IURP LQVWLWXWLRQDO LQYHVWRUV EXW UHDO VWUDWHJLF LQYHVWRUV , FDQ VD\ WKDW WKHUH LV D ORW LQWHUHVW IRU 7ULJODY EHFDXVH LQVXUDQFH LV WKH RQO\ KHDOWK\ ÀQDQFLDO LQGXVWU\ LQ 6ORYHQLDµ

14

FDI Summit 2012 Conclusion Paper

Round Table Highlights

Transitioning to a High Tech Hub: Initiating Strategic Investments on the Basis of Slovenia’s Real Competitive Advantages and Potential 3URIHVVRU 0DUNR -DNOLĆ Faculty of Economics, University of Ljubljana ´:KDW DUH WKH FKDOOHQJHV" :H EHOLHYH WKDW ZH DUH RQO\ DW WKH EHJLQQLQJ RI WKH WKLUG LQGXVWULDO UHYROXWLRQ WKH GLJLWDO UHYROXWLRQ WKDW ZLOO SUREDEO\ FRPSOHWHO\ FKDQJH WKH ZD\ ZH ZLOO OLYH DQG ZRUN LQ IXWXUH \HDUV , DOVR EHOLHYH WKDW WKLV WKLUG LQGXVWULDO UHYROXWLRQ FDQ KHOS XV ÀQG RXU ZD\ RXW RI WKH FXUUHQW HFRQRPLF DQG PRUH LPSRUWDQWO\ WKH JOREDO VRFLDO FULVLV *OREDO YDOXH FKDLQV DUH FKDQJLQJ WKH WHFKQRORJ\ ZKLFK LV HPHUJLQJ DQG ZDV ÀUVW LPSOHPHQWHG LQ WKH QDUURZ ´GLJLWDOµ VHFWRU LWVHOI WKH LQIRUPDWLRQ FRPPXQLFDWLRQ VHFWRUV WKLV WHFKQRORJ\ LV QRZ PRUH DQG PRUH SUHVHQW LQ RWKHU VHFWRUV ELRWHFKQRORJ\ SURGXFWLRQ PDQXIDFWXULQJ 7KLV ZLOO EULQJ QHZ EXVLQHVV PRGHOV DQG , EHOLHYH WKDW WKHUH LV D JUHDW FKDOOHQJH IRU VPDOO DQG PLGGOH VL]H PXOWLQDWLRQDO FRPSDQLHV WKDW ZLOO VRPHKRZ WU\ WR EXLOG RQ H[LVWLQJ GLIIHUHQW JDSV LQ LQWHUQDWLRQDO WUDGH DQG ZLOO EH YHU\ IXQFWLRQDO LQ WKH QHZ JOREDO HFRQRP\µ

FDI Summit 2012 Conclusion Paper

15

Round Table Highlights Mateja Dermastia, CEO, PoliMaT Centre of Excellence ´:H EURXJKW WRJHWKHU 6ORYHQLDQ VFLHQFH DQG LQGXVWU\ LQ WKH ÀHOG RI SRO\PHUV DQG LW FDPH RXW WKDW WKHUH ZDV WKH FULWLFDO PDVV WKDW ZH FRXOG VHOO LQ WKH LQWHUQDWLRQDO PDUNHW :LWK VFLHQWLVWV DQG UHVHDUFKHUV WKDW ZRUN DW WKH &HQWUH RI ([FHOOHQFH 3ROL0D7 ZH DUH QRZ DEOH WR VHOO WKH FULWLFDO PDVV RI NQRZOHGJH ,Q 0DUFK WKLV \HDU ZH VWDUWHG SUHSDUDWLRQV IRU RXU JOREDOLVDWLRQ SURFHVV 7KH ZKROH LGHD ZDV WR FUHDWH D QHWZRUN RQ ELRSRO\PHUV 6R ZH ÀJXUHG RXW WKDW ZH QHHGHG $PHULFDQ SDUWQHUV *HUPDQ $XVWULDQ SDUWQHUV DQG ZH QRZ WKLQN WKDW LW LV YHU\ JRRG WR LQFOXGH $IULFD LQ WKH ZKROH DJHQGD :H ZHUH YHU\ OXFN\ WKDW RXU JRYHUQPHQW DQG 6ORYHQLDQ GLSORPDF\ KHOSHG 3ROL0D7 YHU\ PXFK ZH ZHQW WR $PHULFD WKH\ RSHQHG GRRUV WR $NURQ DQG ZH KDG WKH RSSRUWXQLW\ WR SUHVHQW RXU VFLHQFH DQG UHVHDUFK UHVXOWV DQG RXU industrial partners”

0DWMDç 2YHQ Director Biopharmaceuticals, Lek ´, WKLQN WKDW FROODERUDWLRQ ZLWK UHVHDUFKHUV DQG DFDGHPLF LQVWLWXWLRQV LV JHWWLQJ EHWWHU DQG EHWWHU ,I MXVW VHYHUDO \HDUV DJR ZH ZHUH DSSURDFKHG E\ WKRVH LQVWLWXWLRQV LQ WKH PDQQHU RI ´ZH KDYH GHYHORSHG WKLV DUH \RX LQWHUHVWHG LQ WKLV HWF µ ZH ZRXOG PRUH RIWHQ WKDQ QRW DQVZHU ZLWK ´QR QRW UHDOO\ LW GRHVQ W ÀW RXU DJHQGDµ 7RGD\ WKH VFLHQWLÀF DQG DFDGHPLF FRPPXQLW\ FRPH WR XV ZLWK WKH TXHVWLRQ ´ZKDW DUH \RXU QHHGVµ 7KLV LV WKH ULJKW NLQG RI TXHVWLRQ IRU WKH FRPSDQ\ ZH WU\ WR IRVWHU WKDW WKH ULJKW TXHVWLRQV DUH DVNHG ZH WU\ DOVR WR EUDLQVWRUP RQ ZKDW RXU QHHGV DUH WKDW PD\EH ZH DUH QRW DZDUH RIµ

0DWMDç 3RODN CEO, EN-FIST Centre of Excellence “One of possibilities of the centres of excellence is that they can perform LPPHGLDWH LQWHUDFWLRQ ZLWK PDUNHW HQWLWLHV VPDOOHU RU ELJJHU FRPSDQLHV PXOWLQDWLRQDOV :H ZDQW WR HVWDEOLVK GLUHFW FRQWDFW WKH LPPHGLDWH LPSDFW RI RXU NQRZOHGJH WR PXOWLQDWLRQDO FRPSDQLHV :H IRXQG RXW WKDW WKHUH DUH VHYHUDO DUHDV ZKHUH WKLV FDQ EH TXLFNO\ XVHG LQ ELJ FRPSDQLHV WKH ÀUVW LV GHÀQLWHO\ VRPH FR FUHDWLRQ RI QHZ WHFKQRORJLHV 2I FRXUVH D ORW RI HQHUJ\ PXVW EH LQYHVWHG LQ WKHVH SURMHFWV \RX QHHG WUXVW \RX QHHG D SURSHU OHYHO RI UHOLDELOLW\ WKDW \RX FDQ GHOLYHU ZKDW \RX SURPLVHGµ

Rebeka Koncilja, CEO, COBIK Centre of Excellence ´:H PHUJH WRJHWKHU WKH EHVW HQJLQHHUV DQG GHYHORSHUV IURP LQGXVWULDO SDUWQHUV ZLWK WKH EHVW UHVHDUFKHUV IURP LQVWLWXWHV DQG XQLYHUVLWLHV :H VWDUWHG UHVHDUFK SURJUDPPHV WR EULQJ QHZ WHFKQRORJLHV WR WKH PDUNHW DQG ZH DUH WU\LQJ QRZ WR HIÀFLHQWO\ FRPPHUFLDOLVH D QHZ SURMHFW WKURXJK GLIIHUHQW QHZ EXVLQHVV PRGHOV :H WKHQ WU\ WR HVWDEOLVK QHZ VSLQ RII FRPSDQLHV WKDW ZLOO EH DEOH WR VXUYLYH LQ WKH JOREDO PDUNHWµ

16

FDI Summit 2012 Conclusion Paper

Round Table Highlights

Global Challenges and Answers for Slovenia (AmCham Business Breakfast) Gregor Virant, President of the National Assembly ´, WKLQN WKDW ZH PRUH RU OHVV DOO NQRZ ZKDW KDV WR EH GRQH 7KHUH DUH ÀYH RU VL[ LWHPV RQ WKH DJHQGD ZKLFK DUH UHDOO\ LPSRUWDQW DQG D SULRULW\ ,W V YHU\ LPSRUWDQW WR NHHS WKH IRFXV RQ WKHVH LWHPV DQG WKDW HYHU\RQH WKLQNV DERXW WKH VROXWLRQV 2QH RI WKH SUREOHPV LQ 6ORYHQLD LV WKDW LQVWHDG RI WKLQNLQJ KRZ WR GR WKLQJV KRZ WR LPSURYH RU VROYH SUREOHPV PDQ\ SHRSOH VRPHKRZ LQYHVW WRR PXFK HQHUJ\ LQ ÀQGLQJ WKH UHDVRQV ZK\ VRPHWKLQJ LV QRW SRVVLEOH ZK\ VRPH LGHD ZKLFK ZDV VXJJHVWHG E\ VRPHERG\ HOVH LV ZURQJ QRW JRRG HWF 7RGD\ LW V QRW VR PXFK DERXW ZKHWKHU ZH XVH WKLV RU WKDW WR SXW RXW WKH ÀUH EXW WR DFW DQG DFW TXLFNO\µ

Jerome Glenn, Director, Millennium Project ´:H NQRZ WKDW WKH PDUNHW LV D GULYLQJ IRUFH RI FKDQJH EXW ZH·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µ

Sanjiivv Sharma, Managing Director, Partners & Company, Kuwait ´:KDW ZH VHH LQ WKH 0LGGOH (DVW ZKHQ QHZ FRXQWULHV WU\ WR LQWURGXFH WKHLU FRPSDQLHV LV WKDW JHQHUDOO\ WKH\ FRPH WR RXU UHJLRQ ORRNLQJ IRU DJHQWV $QG ZKDW KDSSHQV LV WKDW WKH\ FKRRVH WKH DJHQWV E\ WKH VL]H RI WKHLU FRPSDQ\ ZKLFK LV QRW DGHTXDWH WR EH VXFFHVVIXO LQ WKH UHJLRQ 7KHUH VKRXOG EH PRUH LQYROYHPHQW LQ ZKHUH WKH FRPSDQLHV FRPH IURP DQG GULYH WKHLU EXVLQHVV WHOO WKH DJHQWV KRZ LW LV WR EH GRQH KRZ WKHLU SURGXFW VKRXOG EH UHSUHVHQWHGµ

6DQGL ąHåNR President & CEO, Studio Moderna ´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µ

FDI Summit 2012 Conclusion Paper

17

Round Table Highlights Donald L. Plusquellic, Mayor, City of Akron, Ohio ´, WKLQN WKDW LQ WKH &LW\ RI $NURQ LQ PDQ\ ZD\V ZKHQ , OLVWHQ WR SHRSOH WDONLQJ DERXW 6ORYHQLD ZH ZHQW WKURXJK D VLPLODU W\SH RI SUREOHP DQG D VLPLODU HUD :H KDG WKRXJKW RI RXUVHOYHV DV VRUW RI LQYLQFLEOH LQ D ZD\ :H KDG IRXU PDMRU UXEEHU FRPSDQLHV SHRSOH ZHUH ZRUNLQJ DOO \RX KDG WR GR ZDV JHW WKURXJK VFKRRO VRPHWLPHV QRW HYHQ JHW WKURXJK KLJK VFKRRO 6XGGHQO\ WKH ZRUOG FKDQJHG PDQ\ RI WKRVH MREV PRYHG WR VRXWKHUQ VWDWHV RWKHU SODFHV :H KDG WR UH LQYHQW RXUVHOYHV ZH KDG WKH VDPH SUREOHP ² QRW KDYLQJ DQ RSWLPLVWLF YLHZ SHVVLPLVP LV D JRRG ZD\ WR GHVFULEH WKDW 0DQ\ RI XV MXVW KDG WR FKDQJH RXU DWWLWXGH DQG LW V RQH RI WKH PRVW GLIÀFXOW WKLQJVµ

18

FDI Summit 2012 Conclusion Paper

Round Table Highlights

Energy as a Key for International Competitiveness: Thermo vs. Hydro vs. Nuclear vs. New Technology 7RPDç 2UHåLĆ Director for Central and Western Europe, EFT Group ´)URP WKH HQHUJ\ SHUVSHFWLYH 6ORYHQLD LV LQHYLWDEO\ FRQQHFWHG WR VRXWK HDVWHUQ (XURSH VR ZH KDYH WR ORRN YHU\ FDUHIXOO\ WR WKH 6(( UHJLRQ :KHQ ZH WDON DERXW WKH YHU\ DPELWLRXV JRDOV RI WKH (XURSHDQ 8QLRQ , KDYH D IHHOLQJ WKDW ZH GHÀQLWHO\ KDYH WZR HQHUJ\ ODQGVFDSHV KHUH RQH LV WKH IRUPDO (8 HQHUJ\ SROLF\ ZLWK WKH JRDO RI LPSOHPHQWLQJ D VLQJOH HQHUJ\ PDUNHW E\ WKH RWKHU LV WKH VRXWK HDVWHUQ RQH ZKHUH PDUNHW PHFKDQLVPV DUH QRW ZRUNLQJ ZLWK VXEVLGLVHG SULFHV H[SRUW WD[HV µ

Randy Galm, VP EMEA Business and Project Development, Westinghouse Electric Company ´)XUWKHU LQYHVWPHQW LQ 6ORYHQLD ZLOO EH FKDOOHQJLQJ WKHUH LV WKH HFRQRPLF FULVLV DQG WKDW LV JRLQJ WR EH YHU\ GLIÀFXOW WR RYHUFRPH %XW \RX DOUHDG\ KDYH D YHU\ JRRG RSHUDWLQJ XQLW WKDW V EHHQ LQ H[LVWHQFH VLQFH \RX KDYH WKH LQIUDVWUXFWXUH LQ SODFH \RX KDYH WKH FDSDELOLW\ WHFKQRORJ\ \RX KDYH DGYDQFHG , WKLQN WKDW LQYHVWRUV ZLOO ORRN ZKHUH WKHUH LV FHUWDLQW\ WHFKQRORJ\ OLFHQVLQJ DQG SULFLQJ FHUWDLQW\ ZKLFK ZLOO KHOS EULQJ LQYHVWRUV HYHQ ZLWK WKH GLIÀFXOW ÀQDQFLDO VLWXDWLRQµ

Vladimir Kercan, Executive Director, Turboinštitut ´7KH PDLQ DGYDQWDJH RI WKH 7XUERLQåWLWXW LV KDYLQJ RXU RZQ ODERUDWRU\ ZKLFK LV LQ GDLO\ WRXFK ZLWK SURGXFWLRQ 7KLV LV RQH RI WKH ELJJHVW DGYDQWDJHV LQ FRPSDULVRQ ZLWK DOO JOREDO FRPSHWLWRUV LQ VPDOO K\GUR 2XU EXVLQHVV SKLORVRSK\ LV WKDW VPDOO K\GUR VKRXOG EH DV HIÀFLHQW DV SRVVLEOH ,Q FRPSDULVRQ ZLWK RWKHU SURGXFHUV FRPSHWLWRUV ZH UHO\ RQ WKH HIÀFLHQF\ RI K\GUR SRZHU :KHQHYHU \RX GHVLJQ K\GUR SRZHU \RX VKRXOG NQRZ WKDW WKH GHVLJQ LV IRU WKH QH[W RU \HDUV :KDWHYHU \RX FDQ GHVLJQ EHWWHU LV WKH TXHVWLRQ RI HQHUJ\ HIÀFLHQF\µ

FDI Summit 2012 Conclusion Paper

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Round Table Highlights

(QHUJ\ (IÀFLHQF\ DV D 1HZ Development Concept Stane Merše, +HDG RI WKH (QHUJ\ (IÀFLHQF\ 'LYLVLRQ -RçHI 6WHIDQ Institute ´$VLGH IURP WKH HQYLURQPHQWDO SHUVSHFWLYH WKH NH\ LVVXH LV WKH HFRQRPLF PRWLYDWLRQ IRU HQHUJ\ HIÀFLHQF\ 7KHUH LV D FUXFLDO GLOHPPD WR SD\ IRU WKH HQHUJ\ RI ZKLFK 6ORYHQLD LV LPSRUWLQJ D KLJK SURSRUWLRQ RU WR LQYHVW LQ HIÀFLHQW WHFKQRORJ\ WR UHGXFH FRVWV DQG WR UHGXFH HQYLURQPHQWDO GDPDJH 7KH ÀUVW WKLQJ LV WKDW ZH PXVW EH RULHQWHG WRZDUGV HQHUJ\ HIÀFLHQF\ LQ DOO VHFWRUV ZKLFK ZLOO PDNH RXU HFRQRP\ FRPSHWLWLYH DQRWKHU WKLQJ LV WKH RULHQWDWLRQ WRZDUG JUHHQ SURGXFWV ZH FDQ SURGXFH SURGXFWV DQG VHUYLFHV WKDW ZLOO EH FRPSHWLWLYH DQG ZLOO FUHDWH QHZ MREV 7KH WKLUG DUH HQHUJ\ VHUYLFHV QHZ HQHUJ\ VHUYLFHV DUH FUXFLDO IRU FRPSDQLHV WR EH DEOH WR LPSOHPHQW HQHUJ\ HIÀFLHQF\ µ

Darko Bevk, Head of the Slovenian Association of Insulation Material Producers ´ RI DOO HQHUJ\ LQ 6ORYHQLD LV XVHG LQ EXLOGLQJV DQG ZH DUH DOUHDG\ SD\LQJ VRPH SHQDOWLHV EHFDXVH RI H[FHVVLYH JUHHQ KRXVH JDV HPLVVLRQV HYHU\ \HDU ZH SD\ DSSUR[LPDWHO\ (85 PLOOLRQ 2Q WRS RI WKDW ZH KDYH DQ DGGLWLRQDO SUREOHP VN\URFNHWLQJ SULFHV RI HQHUJ\ DQG ZH PXVW ÀQG VRPH VROXWLRQV IRU WKDW $FFRUGLQJ WR UHVHDUFK E\ WKH 6ORYHQLDQ &RQVWUXFWLRQ ,QVWLWXWH RI EXLOGLQJV QHHG DQ HQHUJ\ UHWURÀW 7KDW PHDQV WKDW WKH\ DUH QRW LQVXODWHG WKH\ KDYH ROG ZLQGRZV ZH DUH MXVW EXUQLQJ PRQH\ LQ WKRVH EXLOGLQJV DQG ZH PXVW VWRS GRLQJ WKLV (YHU\ \HDU ZH UHQRYDWH MXVW RI WKH WRWDO VWRFN RI EXLOGLQJV ZH DUH LQ IDFW QRW PRYLQJ DQ\ZKHUH ,I ZH GR WKLQJV WKH VDPH ZD\ LQ WKH IXWXUH ZH ZLOO UHQRYDWH WKH ZKROH EXLOGLQJ VWRFN LQ \HDUV ZKLFK LV IDU DZD\ IURP RXU WDUJHW DQG (8 WDUJHWVµ

Gerald Schmidt, CEO, BSH Hišni aparati ´5RXJKO\ RI HQHUJ\ FRQVXPSWLRQ LQ 6ORYHQLD LV FRPLQJ IURP KRPH DSSOLDQFHV DQG WKLV LV D UHDOO\ ODUJH QXPEHU ,Q KRXVHKROGV ZH VHH WKDW RI DOO DSSOLDQFHV DUH ROGHU WKDQ \HDUV %XW LQ WKH PHDQWLPH WKH HQHUJ\ FRQVXPSWLRQ KDV EHHQ UHGXFHG DSSUR[LPDWHO\ LQ VRPH FDVHV :H RIWHQ IDFH WKH VLWXDWLRQ LQ KRXVHKROGV WKDW QHZ SURGXFWV DUH ERXJKW RQO\ LQ WKH FDVH ZKHUH WKH ROG RQHV DUH QRW ZRUNLQJ SURSHUO\ DQ\PRUH 6RPHWLPHV ZH VHH WUXH PXVHXP SLHFHV ZKLFK DUH QRW ZRUNLQJ HIÀFLHQWO\ )RU H[DPSOH UHSODFLQJ WKH UHIULJHUDWRU LV YHU\ TXLFN DQG HDV\ WKLV LV WKH PRVW HIIHFWLYH ZD\ WR ORZHU HQHUJ\ FRQVXPSWLRQ LQ FRPSDULVRQ WR D IXOO UHWURÀW RI VRPH ROG KRXVHµ

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FDI Summit 2012 Conclusion Paper

Round Table Highlights Frank Heinlein, Director Strategic Management DGNB (German Sustainable Building Council), Germany ´7KHUH DUH PDQ\ GLIIHUHQW ZD\V RI VDYLQJ HQHUJ\ WKLV LV UHDOO\ VWLPXODWLQJ WKH GHEDWH LQ *HUPDQ\ ULJKW QRZ <RX KDYH WKH LQVXODWLRQ RI WKH IDFDGH \RX KDYH WKH ZLQGRZV URRI EDVHPHQW DQG DOVR ZKDW LV YHU\ LPSRUWDQW ² EXLOGLQJ DXWRPDWLVDWLRQ VR WKHUH DUH PDQ\ PHDVXUHV WKDW FDQ DQG VKRXOG EH WDNHQ ,W¡V D ORQJ ZD\ EXW , WKLQN WKDW ZH DUH RQ WKH ULJKW WUDFN 7KHUH LV DQRWKHU LPSRUWDQW SRLQW WKDW , ZRXOG OLNH PDNH ZK\ DUH ZH DOZD\V WDONLQJ DERXW WKH VXEVLGLHV ZK\ DUH ZH DOZD\V ZDLWLQJ IRU WKH VWDWH WR SD\ IRU LW" :K\ GRQÂ?W ZH WD[ HQHUJ\ PXFK KLJKHU WKDQ ZH GR VR WKHUH ZRXOG EH D VWLPXOXV DQG WKH SD\EDFN ZRXOG EH PRUH LPPHGLDWH DQG PD\EH ZRXOG PDNH LW HDVLHU IRU WKH JRYHUQPHQW" 7KH HIIHFW ZRXOG EH WKH VDPH DQG WKHQ LWÂ?V XS WR WKH SHRSOH WKH\ FRQVXPH OHVV HQHUJ\ DQG SD\ OHVV WD[ WKH HIIHFW ZRXOG EH same but also very important is the attitudeâ€?

FDI Summit 2012 Conclusion Paper

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Round Table Highlights

Foreign Capital as Part of a Credible Development Strategy – Financing Projects in Times of Austerity -DQH] äXåWHUåLĆ Minister of Finance ´7KHUH DUH EDVLFDOO\ WZR W\SHV RI SRVVLEOH LQYHVWPHQWV WR 6ORYHQLD RQH DUH WKH H[LVWLQJ SULYDWH FRPSDQLHV DQG DQRWKHU DUH WKH VR FDOOHG ´JUHHQÀHOGµ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µ

Ralph Martens, President, Ring International Holding AG ´:H H[SHULHQFHG LQ WKH ODVW IHZ PRQWKV WKDW D ORW RI RXU 6ORYHQLDQ SDUWQHUV DQG FXVWRPHUV MXVW ZHQW EDQNUXSW EHFDXVH WKH\ GLGQ W JHW WKH QHFHVVDU\ OLTXLGLW\ IURP WKH EDQNV &RPSDQLHV WKDW ZHUH VXFFHVVIXO LQ WKH SDVW DUH QRZ WUDSSHG LQ WKLV FUHGLW FUXQFK 7KH\ MXVW VWRSSHG ZRUNLQJ IURP RQH GD\ WR WKH QH[W 7KLV LV UHDOO\ DQ LPSRUWDQW LVVXH 7KH VROXWLRQ WKDW ZH KHDUG IURP WKH 0LQLVWHU EULQJV VWDELOLW\ DQG WKH FKDQFH WR FDOFXODWH WKH ULVNV EHWWHU LQ WKH future”

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FDI Summit 2012 Conclusion Paper

Z. Michael Ayoub, 3ULQFLSDO ,QYHVWPHQW 2IĂ€FHU 5HJLRQDO 6HFWRU Leader, IFC Manufacturing, Agribusiness and Services, Europe & MENA ´:KLFK FRXQWU\ LV EHWWHU SODFHG WRGD\ WKDQ 6ORYHQLD WR DWWUDFW )', LQ PDQXIDFWXULQJ VLQFH 6ORYHQLD KDV WKH LQIUDVWUXFWXUH DQG KXPDQ FDSLWDO WR SURYLGH KLJK YDOXH DGGHG HQJLQHHULQJ VHUYLFHV KDV DFFHVV WR H[SRUW WR WKH (8 PDUNHWV DQG FDQ SURYLGH VWURQJ OLQNDJHV WR WKH VRXWKHUQ (XURSHDQ FRXQWULHV ZKLFK FDQ SURYLGH D ORZHU FRVW EDVH" ´

Marjan Hribar, Director General, Tourism and Internationalisation Directorate, Ministry of Economic Development & Technology ´:H NQRZ RXU VWUHQJWKV WKH\ OLH LQ RXU DVVHWV KXPDQ DQG QDWXUDO UHVRXUFHV ZH KDYH VNLOOV D GHGLFDWLRQ WR SHUIHFWLRQ ZH KDYH NQRZOHGJH LQ DOO NLQGV RI LQGXVWULHV , WKLQN WKDW WKH PRVW LPSRUWDQW LVVXH WKDW ZH DUH IDFLQJ LQ WKLV PRPHQW LV WKDW HYHU\RQH LV PDNLQJ FRPPHQWV DERXW HYHU\WKLQJ in this countryâ€?

Save the Date!

18 September 2013

FDI Summit 2012 Conclusion Paper

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Conclusion remarks

We should not look back to the past and cry about what we lost Christof Droste, Managing Director of Hella Saturnus and Slovenian Manager of the Year 2011

Christof Droste, Managing Director of Hella Saturnus and Slovenian Manager of the Year 2011 has been a regular participant and VSHDNHU DW WKH )', 6XPPLW VLQFH ZKHQ WKH ÀUVW FRQIHUHQFH was organised. This year he was also the host and moderator of the closing panel. Christof Droste is known for his direct language and clear thoughts for gettting out of our “development” crunch. By Tilen Majnardi, M. Sc. 24

FDI Summit 2012 Conclusion Paper

Conclusion remarks

More or less we can say that the basic topics of all previous conferences ZHUH YHU\ VLPLOLDU ZLWK D VLJQLÀFDQW GLIIHUHQFH WKH VLWXDWLRQ LQ 6ORYHQLD LV deteriorating rapidly with little if any credible response from the politicians. How do you see or understand this increasingly dangerous lack of action? )URP P\ SRLQW RI YLHZ WKH VL]H RI RXU FRXQWU\ LV PRUH DQ DGYDQWDJH WKDQ D GLVDGYDQWDJH %XW WR XVH WKLV VWUHQJWK VRPH LPSRUWDQW FKDQJHV PXVW EH GRQH :H ORVW D JRRG SODFHV LQ JOREDO FRPSHWLWLYHQHVV IURP WR EHFDXVH RI WKH LQà H[LELOLW\ LQ WKH ODERXU PDUNHW GLIÀFXOW ÀQDQFLQJ FRQGLWLRQV DQG OLWWOH LQQRYDWLRQ SRZHU $OWKRXJK , GLVDJUHH ZLWK WKH VWDWHPHQW RI KDYLQJ OLWWOH LQQRYDWLRQ SRZHU ZH DUH MXVW QRW XVLQJ LW VXIÀFLHQWO\ +HUH ZH DOO FDQ VXSSRUW /HW XV EH PRUH VHOI FRQÀGHQW VKRZ ZKDW LV SRVVLEOH DQG ZKHQ ZH VHH WKLV LQQRYDWLRQ SRZHU LQ RWKHU SHRSOH OHW XV IXOO\ VXSSRUW WKHP DQG PDNH XVH RI LW 7KH RWKHU WZR LVVXHV PXVW EH UHVROYHG DV VRRQ DV SRVVLEOH $QG KHUH LW LV LPSRUWDQW WR VWDUW WKH DFWLRQ %HWWHU WR GR LW LPPHGLDWHO\ DQG LQ VPDOO VWHSV WKDQ ZDLW IRU WKH ELJ LGHDV DQG ÀQDO VROXWLRQ 1R VRUU\ LW LV QRW EHWWHU LW LV HVVHQWLDO

We need action. For these kind of reforms we need, if we don´t want to again face a referendum, the commitment of all social partners (government, opposition, unions and employers).

It´s clear that we have seen some proposals for stabilisation of the economy in the past, pension reform was proposed by the previous government, as well as elements for reform of the labour market. We adopted the National Development Project Resolution a few years ago and we have written a lot on principle strategies, probably also good ones. Now, once again, we have pension reform and labour market reform on the table but up till now all these proposals and ideas have not been implemented, what do you see as the main reason for this? $V ,¡YH VDLG EHIRUH ZH QHHG DFWLRQ )RU WKHVH NLQG RI UHIRUPV ZH QHHG LI ZH GRQÂ?W ZDQW WR DJDLQ IDFH D UHIHUHQGXP WKH FRPPLWPHQW RI DOO VRFLDO SDUWQHUV JRYHUQPHQW RSSRVLWLRQ XQLRQV DQG HPSOR\HUV 7R JHW WKLV FRPPLWPHQW WZR WKLQJV IURP P\ SRLQW RI YLHZ DUH QHFHVVDU\ ZLWKRXW NQRZLQJ ZKHUH WR JR LW LV GLIĂ€FXOW IRU XV DV KXPDQ EHLQJV WR DJUHH RQ WKH ZD\ WKDW PHDQV Ă€UVW RI DOO ZH QHHG D YHU\ VLPSOH DQG FOHDU HDV\ WR XQGHUVWDQG YLVLRQ ´YL]LMD Âľ 6HFRQG ZH KDYH WR GR LW LQ PDQDJHDEOH VWHSV 7DNH WKH Ă€UVW VPDOO VWHS VHH WKH VXFFHVV WKHQ WKH QH[W VWHS DQG VR RQ DQG VR RQ :LWK HDFK VWHS WKH VXFFHVV ZLOO EH ELJJHU UHVXOWLQJ LQ JUHDWHU FRPPLWPHQW ZKLFK DJDLQ UHVXOWV LQ JUHDWHU VXFFHVV The current crisis is a kind of “reality checkâ€? for Slovenia, we just cannot afford to spend more than we produce anymore, we cannot get new loans on international markets, companies are critically undercapitalised. One of the solutions is foreign capital, foreign investment which is at the top of the government agenda. Is Slovenia, due to the low credibility of our politicians, at this moment even on the map of global investors? :H DOO QHHG WR WDON WR LQYHVWRUV ZLWK D FRPPRQ YLVLRQ LW LV IRU VXUH HDVLHU %XW HYHQ XQGHU WKH FXUUHQW VLWXDWLRQ LW LV SRVVLEOH $ ORW RI WKH FRPSDQLHV RXWVLGH 6ORYHQLD GR QRW NQRZ DERXW RXU VWUHQJWKV DQG EHFDXVH RI WKDW ZH DUH QRW RQ WKHLU UDGDU FDI Summit 2012 Conclusion Paper

25

Conclusion remarks

What are real, operational steps toward a proper and effective FDI strategy in Slovenia from your perspective? What actually should be done instead of the daily empty talk about the need to attract foreign capital? $V , VDLG EHIRUH D &UHDWLQJ ´YL]LMD Âľ E 6SHHGLQJ XS WKH QHFHVVDU\ UHIRUPV F &RPPXQLFDWLQJ ZLWK LQYHVWRUV PHDQLQJ DFWLYHO\ VHDUFKLQJ When we talk about foreign capital in Slovenia, there immediately pops up the question of national interest. The result of such never-ending discussions is that a lot of potential foreign investors lose their nerve or patience and just go to another country because, in Slovenia according to public opinion, practically every economic sector is in the national interest, from logistics, UHWDLO WKH Ă€QDQFLDO VHFWRU IRRG LQGXVWU\ VSRUWLQJ HTXLSPHQW" +RZ FDQ ZH combine this obsession with national ownership and the urgent need for fresh foreign capital? :KHQ GHĂ€QLQJ ´YL]LMD Âľ LW ZLOO EH YLVLEOH LPPHGLDWHO\ ZKDW WKH UHDO VWUDWHJLF LVVXHV DUH 0HDQZKLOH WKHUH DUH HQRXJK VXFFHVV VWRULHV RI IRUHLJQ LQYHVWPHQW ZKLFK SURYH IRUHLJQ LQYHVWPHQW LV QRW DERXW ELJ ULVNV EXW ELJ RSSRUWXQLWLHV The government adopted three so-called growth packages that include a lot of institutonal, legislative changes and incentives for growth and investment. For example, the corporate income tax rate had already been reduced to 18% and will continue to be reduced 1% each year until 2015, thereafter it will VWD\ DW $Q LQGHĂ€QLWH WD[ FUHGLW IRU LQYHVWPHQW DQG WD[ UHOLHI for research and development were adopted. Are this systemic changes a step in the right direction or do we need a more simple “action planâ€? to generate growth as some critics/economists say?

Consolidation is necessary! We need to implement austerity measures where we can save money without hindering growth and still invest money where it makes sense. All processes must become leaner and PRUH HIĂ€FLHQW

26

7KHVH ZHUH DFWLRQV PHDQLQJ WKH ULJKW DSSURDFK 2WKHU ELJ LVVXHV DUH WKH LQFRPH WD[ EXUGHQ DQG WKH EXUGHQ RI VRFLDO FRQWULEXWLRQ DV ZHOO DV Ă H[LELOLW\ 7KHVH VKRXOG EH QH[W RQ WKH DJHQGD +RZ GR \RX VHH WKLV LQ IDFW LQ VRPH ZD\ DUWLĂ€FLDO GLOHPPD EHWZHHQ DXVWHULW\ and growth? We see that the general public, unions, some political parties and also a key part of the knowledgable public somehow refuse to accept that in the long term we cannot spend more than we produce, a budget GHĂ€FLW LV IRU WKHP QRUPDO DQG ORJLFDO 'R \RX WKLQN WKDW DW WKLV WLPH ZH FDQ generate growth through additional borrowing, is this the growth we want? &RQVROLGDWLRQ LV QHFHVVDU\ :H QHHG WR LPSOHPHQW DXVWHULW\ PHDVXUHV ZKHUH ZH FDQ VDYH PRQH\ ZLWKRXW KLQGHULQJ JURZWK DQG VWLOO LQYHVW PRQH\ ZKHUH LW PDNHV VHQVH $OO SURFHVVHV PXVW EHFRPH OHDQHU DQG PRUH HIĂ€FLHQW 2XU VWUDWHJLHV PXVW EH GLYLGHG LQWR WKUHH VWHSV D 6WRS EOHHGLQJ E (DUQ WKH ULJKW WR JURZ F *URZ

FDI Summit 2012 Conclusion Paper

Conclusion remarks

Probably one of the key problems is that we thought this was just another crisis which will pass sooner or later. The fact is that this is not just a FULVLV EXW WKH QHZ UHDOLW\ WR ZKLFK ZH PXVW DGDSW DQG ÀQG QHZ UHFLSHV IRU development. Where do you see the real potential for growth in Slovenia, which strategic advantages should we focus on, what kind of development concept would you suggest for Slovenia? 7KH ZRUOG FKDQJHG :H KDYH WR DFFHSW WKLV DQG ZH KDYH WR DGMXVW $V ZH DUH D VPDOO FRXQWU\ LW LV PXFK HDVLHU IRU XV WR DGMXVW WKDQ IRU ELJJHU FRXQWULHV $QG IRU VXUH DV ,·YH DOUHDG\ VDLG VHYHUDO WLPHV EHIRUH ZH QHHG ´YL]LMD µ VR ZH UXQ LQ WKH VDPH GLUHFWLRQ To this end, do you think that we are maybe just to pessimistic as a society, maybe a lot of existing problems could be solved with a more positive approach and less politicalisation? , ZRXOG QRW VD\ WKDW ZH DUH WRR SHVVLPLVWLF EXW ZH VKRXOG QRW ORRN WRR PXFK WR WKH SDVW DQG FU\ DERXW ZKDW ZH ORVW EXW ZH VKRXOG ORRN IRU WKH EHDXWLIXO RSSRUWXQLWLHV WKH IXWXUH LV RIIHULQJ XV DQG JR IRU WKHVH FKDQFHV :H DOO QHHG DV DQ H\H RSHQHU WKH ´YL]LMD µ

FDI Summit 2012 Conclusion Paper

27

Final word from the organisers

Finally a change in attitude and mindset

,W LV GLIÀFXOW WR ZULWH VRPHWKLQJ UHDOO\ LQQRYDWLYH DERXW WKH PHDQV DQG PHDVXUHV UHTXLUHG WR SXOO XV RXW RI WKH RQJRLQJ FULVLV ZKLFK KDV EHHQ DIIHFWLQJ 6ORYHQLD VLQFH 3UHYLRXV FRQIHUHQFHV DV DOVR WKLV \HDU·V SUHVHQWHG D QXPEHU RI LGHDV FOHDU VROXWLRQV DQG JXLGHOLQHV IRU GHFLVLRQ PDNHUV WR UHVROYH PDMRU HFRQRPLF SUREOHPV LQ 6ORYHQLD $ NH\ IHDWXUH RI WKLV \HDU·V FRQIHUHQFH LV FHUWDLQO\ WKDW WLPH KDV UXQ RXW D FDWFKSKUDVH ZKLFK LV QRW PHUHO\ DQ HPSW\ SROLWLFDO PD[LP :H KDYH MXVW UXQ RXW RI DOO UHVHUYHV WKDW HQDEOHG XV WR SRVWSRQH XUJHQW FKDQJHV LQ RXU VRFLHW\ ,QVWHDG RI JUDGXDO DGMXVWPHQWV ZH DUH QRZ IRUFHG WR SD\ DOO WKH ELOOV IRU RXU MRLQW LQFRPSHWHQFH DOPRVW DW RQFH Nevertheless, on the basis of discussions we have come to four basically VLPSOH FRQFOXVLRQV ZKLFK FDQ KHOS XV GHÀQH RSHUDWLRQDO SODQV IRU UHVROYLQJ our general “development” crunch:

:H DV D VRFLHW\ NQRZ ZKDW KDV WR EH GRQH DW OHDVW LQ WKH VKRUW UXQ EXW ZH DUH MXVW QRW GRLQJ LW EHFDXVH RI D YDULHW\ RI DUWLÀFLDO SROLWLFDO RU LGHRORJLFDO UHDVRQV WKDW H[FHHG WKH QRUPDO OHYHO RI UDWLRQDOLW\ ZH KDYH GHYHORSHG VRPH NLQG RI ´LQYLQFLELOLW\ FRPSOH[µ ZKLFK LV EORFNLQJ FKDQJHV As

a result of an overdramatisation of every move or step in our VRFLHW\ ZH KDYH EHFRPH D QHJDWLYHO\ RULHQWHG VWDWH FDXJKW LQ D JHQHUDO VWDJQDWLRQ VSLUDO RQ DOO OHYHOV

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:H KDYH QRW GHYHORSHG D FOHDU VLPSOH DQG RSHUDWLRQDO GHYHORSPHQW VWUDWHJ\ WR HQDEOH XV WR DGDSW WR FKDQJLQJ JOREDO FRQGLWLRQV DQG UHVROYH WKH FULVLV LQYROYLQJ H[LVWLQJ FRQVXPSWLRQ FRQFHSWV QHZ WUHQGV HQHUJ\ HIÀFLHQF\ DQG VXVWDLQDEOH GHYHORSPHQW î D VWUDWHJ\ WR SURSHUO\ PRWLYDWH RXU SHRSOH

28

FDI Summit 2012 Conclusion Paper

Final word from the organisers A very important point that should be at the core of our efforts for Ă€JKWLQJ WKH FULVLV LV WKH IDFW WKDW 6ORYHQLD LV VWLOO RQH RI WKH PRVW developed countries in the world, with great potential that should be utilised: 7KH )', 6XPPLW 6ORYHQLD KLJKOLJKWHG YDULRXV FRPSHWLWLYH DGYDQWDJHV SUHVHQW LQ 6ORYHQLD DQG WKH IDFW WKDW )', LQĂ RZV ZRXOG QRW EH DIIHFWHG E\ WKH VL]H RI WKH GRPHVWLF PDUNHW )RFXV ZDV RQ WKHVH FRPSHWLWLYH DGYDQWDJHV ZKLFK LQFOXGH 6ORYHQLD¡V VNLOOHG ODERXU IRUFH DQG LWV (8 H[SRUW SRWHQWLDO 7KH PDLQ TXHVWLRQV DUH ZKDW DUH WKH FXUUHQW LQLWLDWLYHV WR SURPRWH )', DQG KRZ FDQ WKH\ EH PDLQWDLQHG DQG LPSURYHG" 'HVSLWH LWV VL]H 6ORYHQLD ERDVWV D YHU\ VWURQJ PDQXIDFWXULQJ VHFWRU LQFOXGLQJ KLGGHQ FKDPSLRQV LQ WKH Ă€HOG :H QHHG VLPSO\ LPSOHPHQW DOUHDG\ LQGHQWLĂ€HG SROLF\ PHDVXUHV WKDW LQFOXGH ODERXU DQG WD[ UHIRUPV WR VXSSRUW WKLV VHFWRU 6ORYHQLD KDV VWURQJ (XURSHDQ SDUWQHUV VXFK DV *HUPDQ\ DQG $XVWULD ZLWK PDQ\ ORFDOO\ HVWDEOLVKHG Ă€UPV :H PXVW QRXULVK WKLV SDUWQHUVKLS DQG HQKDQFH LW IXUWKHU E\ VHHNLQJ )',V E\ IRU H[DPSOH DWWUDFWLQJ VWUDWHJLF SDUWQHUV LQ RWKHU 6ORYHQLDQ Ă€UPV $ QXPEHU RI FDVHV RI EHVW SUDFWLFHV DUH DYDLODEOH ZKLFK 6ORYHQLD FRXOG PDNH XVH RI 6ORYHQLD SRVVHVVHV LPSRUWDQW QDWXUDO UHVRXUFHV VXFK DV ZRRG :H FDQ LPSURYH WKH XVH RI VXFK QDWXUDO UHVRXUFHV WKHUHE\ DFKLHYLQJ D KLJKHU FRQWULEXWLRQ UDWKHU WKDQ PHUHO\ H[SRUWLQJ WKH UDZ PDWHULDOV :H PXVW LPSURYH OLDLVRQV EHWZHHQ RXU UHVHDUFK LQVWLWXWLRQV DQG industrial corporations WR FUHDWH KLJK OHYHO UHVHDUFK RU GHVLJQ FHQWUHV DQG LQQRYDWLRQV LQ PDQXIDFWXULQJ 6ORYHQLD LV ORRNLQJ DW D UHFRUG \HDU LQ WRXULVP ZLWK D JURZWK RI \HDU UHFRUGHG IRU WKH Ă€UVW PRQWKV :H FDQ LPSURYH WRXULVW FRQWULEXWLRQV E\ DLPLQJ IRU KLJKHU HQG DQG QLFKH WRXULVP :H KDYH D KXJH )', UHVHUYH IURP QRQ WUDGLWLRQDO SDUWQHUV )', IURP QRQ :HVW (XURSHDQ SDUWQHUV ĂŽ IRU H[DPSOH 6RXWK .RUHD -DSDQ &KLQD DQG WKH UHFHQW VXUJH IURP 5XVVLD :H KDYH KXJH GHYHORSPHQW SRWHQWLDO LQ (QHUJ\ (IĂ€FLHQW 7HFKQRORJ\ ZH FDQ FDSLWDOL]H RQ 6ORYHQLD¡V FRPSHWLWLYH DGYDQWDJH LQ (QHUJ\ (IĂ€FLHQW DSSOLFDWLRQV LQFOXGLQJ K\GUR SRZHU RU FRQVWUXFWLRQ So, having evaluated Slovenia’s performance, we can put together EDVLF FULWHULD WR DVVHVV WKH FRXQWU\ SHUIRUPDQFH XQWLO WKH QH[W )', Summit Slovenia 2013 which will take place on 18 September.

FDI Summit 2012 Conclusion Paper

Slovenia’s Anti-Crisis Performance Semaphore

Action Plan 2013 Solving the problem of the credit crunch in the banking sector Continuation of the short-term VWDELOLVDWLRQ RI SXEOLF Ă€QDQFHV without causing unnecessary social tensions and lowering R&D and educational expenditure Adoption of long-term steps to VWDELOLVH SXEOLF Ă€QDQFHV SULPDULO\ pension reform Adoption of labour market reform to increase labour mobility in accordance with global economic WUHQGV DQG UDLVH WKH FRQĂ€GHQFH RI WKH working force Adoption of a transparent system of state-owned asset management with a clear strategy (what, if, when and under what kind of conditions we will privatise part of the assets) 'HĂ€QLWLRQ RI NH\ FRPSHWLWLYH economic sectors to generate new growth with clear and simple implementation strategies – understandable vision of Slovenia for \HDUV ZLWK GHĂ€QHG LPSOHPHQWDWLRQ steps Operationalisation of the new agency “SPIRITâ€? for promoting Slovenia Approach of “searching for investorsâ€? instead of “waiting for themâ€? *HQHUDO JRDO UHVWRUH FRQĂ€GHQFH DQG credibility and create a “problem solvingâ€? oriented society

29

Main conference partners

)2:-+)2') H S S :IPMOE TSX E 7- 7SPOER MRJS$IRZMKIRGI GSQ [[[ IRZMKIRGI GSQ

30

Hella Saturnus Slovenija d.o.o., Letališka cesta 17, 1000 Ljubljana Tel.: + 386 1 520 33 33 info@saturnus.hella.com www.hella-saturnus.si

FDI Summit 2012 Conclusion Paper

Main conference partners

FDI Summit 2012 Conclusion Paper

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Main conference partners

32

FDI Summit 2012 Conclusion Paper

Main conference partners

BMW xDrive

TAKING THE MOUNTAINS BY STORM.

Sheer Driving Pleasure

www.bmw.si

NOTHING STOPS YOU IN WINTERTIME WITH BMW xDRIVE.

xDrive 18d

5,5 l/100 km 105 kw (143 hp)

BMW X1 xDrive18d: fuel consumption, combined: 5,5 l/100 km. CO2 emissions 150 g/km.

FDI Summit 2012 Conclusion Paper

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Main conference partners

š

34

FDI Summit 2012 Conclusion Paper

Main conference partners

FDI Summit 2012 Conclusion Paper

35

Main conference partners

36

FDI Summit 2012 Conclusion Paper

Main conference partners

Faculty of Economics KNOWLEDGE FOR PROGRESS

Kardeljeva ploščad 17 1000 Ljubljana +386 1 5892 400 info@ef.uni-lj.si WWW.EF.UNI-LJ.SI

OPEN-MINDED Allows me to express myself.

MODERN Offers me flexibility in my studies.

EXCELLENT I get only the best.

SUSTAINABLE Makes me think again about the environment.

CREATIVE I can show my creativity.

PROACTIVE Helps me achieve my goals.

A SCHOOL WHERE I WANT TO BE.

FDI Summit 2012 Conclusion Paper

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Main conference partners

Made to get through winter roads.

The new UltraGrip 8 Performance with 6% shorter braking distance on snow*.

09/2012

Excellent braking performance and handling on ice and snow. Learn more at www.goodyear.eu *Compared to the average performance of three leading competitors on snow, measured by TĂœV SĂœD Automotive in March 2012; Tire Size: 225/45R17 94V; Test Car: Audi A3 1.8 TFSI Sportback; Location: Ivalo (FIN), Mireval (FR); Report nr: 76248182. EU Tire label: UltraGrip 8 Performance 225/45R17 94V; Rolling Resistance Grade: E; Wet Grip Grade: C; Noise Grade: ); Noise Grade Value: 68 / All information in this material was valid on its date of issuance. Grading can vary depending on the size of the tire. For detailed and up to date information, please refer to your dealer or to www.goodyear.eu

38

M A D E T O F E E L G O O D.

FDI Summit 2012 Conclusion Paper

The conference FDI Summit Slovenia 2012 was enabled by Organiser

Organising partner

Partners

REPUBLIC OF SLOVENIA MINISTRY OF ECONOMIC DEVELOPMENT AND TECHNOLOGY

([FOXVLYH $XWRPRWLYH 3DUWQHU

2IÀFLDO $JHQF\

Main Media Sponsor

Media Sponsor

www.fdi.si

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