Slovenia's improved showing on the global competitiveness rankings of the World Economic Forum has been met with optimism. Yet economists and Economics Minister Andrej Vizjak have pointed out that more needs to be done, in particular as regards the labour market.
According to Vizjak, the report shows that measures taken by the government have started to produce certain results. However, further measures are needed on reforming the tax code, eliminating red tape and changing labour legislation.
Tackling the labour market requires more than just making it easy to fire and hire: the entire system must be made more flexible if we are to motivate employers to expand their workforce, he pointed out.
France Krizanic, the head of the Economic Institute at the Law Faculty, also stressed labour and tax legislation as the areas where Slovenia needs to put in some more work. However, tradition makes it harder to implement changes to the labour legislation, he said.
He moreover pointed out that Slovenia has done well in introducing new technologies, where companies are copying the Finnish model. However, if further headway is to be made, the state will have to make an effort too.
Art Kovacic, a competitiveness expert from the Institute of Economic Research, meanwhile noted the "unusual" difference in the report between the good rating for companies' business strategies and the poor rating for the business environment.
This shows that the state has a lot of work to do towards creating a favourable business environment, he said, adding that this would also boost the volume of foreign direct investment.
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