Reforms Key to Greater Competitiveness, Garelli Says
When Slovenia became independent, it had an economic advantage over the other countries in the region. However, Slovenia was overly pleased with its success, which stopped it from developing further, allowing other countries to catch up, Stephane Garelli of the Swiss Institute for Management Development (IMD) has told a business meeting in Bled.
A leading strategist in international competitiveness, Garelli presented his advice on how to survive on large European and other world markets to some 40 participants of Monday's business meeting, organised by the business education company Gospodarski vestnik Izobrazevanje.
According to Garelli, Slovenia used to be a highly productive country with the highest purchasing power in the region. But now Slovenia is starting to fall behind in terms of economic competitiveness, he warned.
The country should carry out important tax reforms and focus on foreign direct investment, he said, stressing that Switzerland faces similar problems.
The expert, who believes Slovenia's biggest potential lies in small and medium-sized businesses, also criticised the role of state-run funds in large Slovenian companies. In his opinion, the state should hand over business management to the private sector.
The meeting "2005-2006 World Map of Competitiveness" concluded with a round table later on Monday.
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