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22/01/2002 - The government of Slovenia has accepted an invitation to adhere to the OECD Declaration on International Investment and Multinational Enterprises in recognition of its successful efforts to establish a stable and non-discriminatory business environment.
Since gaining independence in 1991, Slovenia has managed a dual transition from a socialist to an open-market system of government, and from a regional to a national economy. Its GDP per capita is estimated at 70 per cent of EU average. Slovenia has an open and generally non-discriminatory regime for FDI, offering a strategic location for foreign investors. This, combined with the opportunities arising from undertaking the privatisation of banks and public utilities, has led to a significant increase in FDI in 2001. The FDI stock is currently estimated at US$3 billion. At the same time, Slovenia is becoming a significant investor in its own right in the Southeast Europe region.
The Declaration on International Investment and Multinational Enterprises promotes treatment of foreign investors by host countries' governments no less favourable than that applied to domestic enterprises. It also promotes a set of voluntary standards of appropriate business conduct for multinational enterprises whose observance is encouraged and facilitated by OECD National Contact Points.
Slovenia's adherence to the Declaration will consolidate past reform achievements and increase business confidence in the country. As an adherent to the Declaration, Slovenia will participate in OECD work related to the instrument. It will share experiences with the 30 member countries of the OECD as well as with the other adherents to the Declaration, so far Argentina, Brazil, Chile, Estonia and Lithuania. The OECD encourages countries that are not members of the OECD to adhere to the Declaration.
An OECD Review of Slovenian FDI policies, to be published shortly, forecasts that foreign direct investment into this country will continue to grow. The Review stresses the importance of the pursuit of liberalisation with respect to all countries as well as the maintenance of the momentum for privatisation. It also recommends further progress in the reduction of administrative barriers in order to maximise the benefits of foreign direct investment. To obtain a copy of this report, journalists are invited to contact the OECD's Media Relations Division.
For more information, journalists are invited to contact Marie-France Houde, OECD Financial Fiscal and Enterprise Affairs Directorate (tel. [33] 1 45 24 91 26) or Nick Bray, OECD's Media Relations Division (tel. [33] 1 45 24 80 90).
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