World Hockey Championship 2005 Austria

Since 1998 Slovakia’s once troubled economy has been transformed into an economic success story that leads the region in economic growth. In its “Doing Business in a 2005” report, the World Bank named Slovakia as the world’s top reformer in improving its investment climate over the last year, allowing it to join the top 20 economies in the world for ease of doing business. The country’s low-cost yet skilled labor force, low taxes (19% flat tax rate for individuals and corporations plus no taxes on dividends), liberal labor code, reformed pension and healthcare systems, privatized banking and corporate sectors and favorable geographic location have helped it become one of Europe’s favorite investment markets. However, regional disparities remain and western Slovakia is far more prosperous and developed than the eastern portion of the country. Since the election of Prime Minister Mikuláš Dzurinda’s coalition government in 1998, cumulative foreign direct investment has increases ... [Read More]