Participants of the 3rd annual Business Week conference highlighted the importance of research and development for the future of the Slovenian economy on the second day of the meeting in Ljubljana.
According to Mateja Mesl, a vice-president of the Chamber of Commerce (GZS), the organiser of the meeting, Slovenia needs to invest in knowledge, innovation and development if it wishes to bridge the development gap with Western Europe.
The key to improving research and development in Slovenia is strategic integration between companies, she said.
Mesl stated that integration between companies is an answer to the increasing complexity of products and services, as well as a way to bolster investment in research and development.
Speaking at the open of the second day of proceedings at the Business Week, Mesl stressed that the Slovenian economy faces many a challenge and that integration between companies can help it to overcome some of the hurdles.
The view that Slovenia needs to focus on research and development was also stressed at Tuesday's round table on multinationals held as part of the meeting.
According to Stojan Petric, chairman of commutator manufacturer Kolektor, Slovenia's workforce is becoming increasingly expensive, which means the country will have to look for its competitive advantages elsewhere.
If Slovenia wants a chance to attract foreign investment and be successful it will have to base its future development on research and innovation, Petric said.
Meanwhile, Andreas Niegsch of tire producer Sava Tires said Slovenia must revamp its tax legislation since the current legislation is warding off foreign investors.
Moreover, Niegsch pointed to a disproportionately high number of university graduates in social sciences compared to natural sciences.
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