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opening of the fair in Celje on 10 September. According to Türk, the
fair should also be perceived as a reflection on entrepreneurship and
an occasion to ask oneself if Slovenians are enterprising enough and
capable of developing green technologies. Every autumn the Celje
fairgrounds is a venue showcasing progress in entrepreneurship
and innovation, the president said, adding that Slovenians are used
to seeing themselves as hardworking people; however, this is not
enough for progress nowadays. He noted that entrepreneurship
and an enterprising spirit contributed to the necessary development.
“Inclusion in the European space gave us opportunities, some of
which we have already made good use of, while many still need
to be exploited,” Türk explained. Economy Minister Andrej Vizjak
meanwhile said that the outgoing government had simplified tax
procedures, introduced tax breaks and adopted a new law on
chambers of commerce and industry which abolished mandatory
membership of the Chamber of Commerce and allowed the
creation of new chambers. “We increased funding for development
and offered new opportunities for small enterpreneurs; we also
adopted the law on venture capital,” Vizjak noted. He added
that Slovenia was facing new projects that would improve the
situation of small businesses and craft in Slovenia, and called on
entrepreneurs to propose measures they believe would improve
their position. Miroslav Klun, the head of the Slovenian Chamber of
Craft and Small Business, said that small enterprises accounted for
over 98% of Slovenian businesses. He also called on the government
to introduce certain changes to the tax legislation that would
boost the competitiveness of small businesses and crafts. The 41st
International Trade Fair in Celje, which will run until 17 September,
features over 1,700 exhibitors from 33 countries. One of its focuses
is energy efficiency.
SLOVENIAN INSURER OPENS SUBSIDIARy
IN BELGRADE
AC Osiguranje, a subsidiary of the Slovenian insurance company
Adriatic Slovenica, has launched operations in Belgrade. The
company will offer property and health insurance, and aims at
two percent of the Serbian market. Adriatic Slovenica obtained
permission to establish a new property insurance company in Serbia
at the beginning of 2008, and was the first foreign insurer to do so.
The investment is worth EUR 5m, Adriatic Slovenica said in a press
release on 10 September and added that the subsidiary in Serbia is
the first and most important step in expanding to the markets of
SE Europe. Serbia has 21 operating insurance companies, while the
three largest insurers collect more than three quarters of the total
insurance premiums paid. Gabrijel ©kof, Adriatic Slovenica chief,
said in the release that the Serbian market still has enough room
for property and health insurance, as the rate of people who have
insurance is low. The average premium per capita in Serbia stands
at EUR 55, while it is at EUR 938 in Slovenia. The subsidiary plans to
actively increase its market network in the first two years, starting
in Novi Sad and »aËak, later also moving to other large regional
centres. Matjaž Gantar, director of the KD Holding Group, the
owner of Adriatic Slovenica, also attended the opening ceremony
and announced the expansion to life insurance, which has already
been made in Croatia, Slovakia, the Czech Republic, Romania,
Ukraine and Bulgaria.
GREAT EXPECTATIONS fROm TRIGLAV
LISTING
Zavarovalnica Triglav, Slovenia’s largest insurance company, was
listed on the stock excahnge on 9 September. Whereas existing
shareholders are expected to profit from greater transparency
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in trading, the stock exchange operator sees the floatation as a
welcome boost to liquidity. Triglav has been heavily traded on the
unofficial market but in the future the trading and pricing will be
much more transparent, asserted Marko Simoneti, head of stock
exchange operator Ljubljanska Borza. The listing will be a big event
for the 30,000 existing shareholders, but it will also make the
Slovenian financial market more representative, Simoneti said in
reference to the fact that this will be only the third financial company
after the bank NKBM and reinsurer Sava Re to be listed in Ljubljana.
Triglav chief executive Andrej KociË meanwhile highlighted the
insurer’s business results. He said that despite the adverse impact
of severe weather on the bottom line, Triglav was sticking to its
plan to post gross premium revenues of EUR 1bn in 2008, with
net profit at about the same level as last year, EUR 42m. A total of
22,735,148 ordinary Triglav shares with the code ZVTG were listed
on 9 September. The securities were issued in dematerialised form
and are transferable. The biggest shareholders are the Pension and
Disability Insurance Institute (ZPIZ), which owns 34.47%, and the
state-run Restitution Fund (SOD), which holds 28.4%.
TOURISm DIRECTORATE PLEASED wITh
2008 SEASON
The number of overnight stays in Slovenia in the first seven months
of 2008 increased by 3% compared to the year before, head of the
Tourism Directorate at the Economy Ministry Marjan Hribar said on
11 September at a presentation of this year’s tourist season, which he
characterised as successful. The same increase was recorded in the
number of arrivals. Foreign guests constituted 57% of all overnight
stays, most of them being Italians, Austrians and Germans, Hribar
said at the International Trade Fair in Celje. A more than 10% rise
in revenues and overnight stays was recorded in the first seven
months from the markets of Benelux, Scandinavia and overseas
markets, which have been increasingly targeted by Tourist Board
(STO) marketing activities, he pointed out. The number of Japanese
and Chinese guests increased by 73% and 43%, respectively, which
is especially pleasing and inspiring, he said. In 2006, tourism gross
output comprised 5.5% of the national GDP, which is an 11.3% rise
compared to 2003. Plans for the 2007−2011 period envisage a 6%
increase in the number of visitors and a 4% increase in overnight
stays. The government Tourism Directorate will also enhance
marketing activities to promote Slovenia within specific target
groups, Hribar said. He pointed out that the Slovenian tourism
industry should strive to be united, specialised, innovative, genuine,
professional and offer high-quality services. “In tourism, the keys
to success are quality of service and satisfied customers, which are
also the primary goals of our development policy,” Hribar explained.
Hribar moreover highlighted that their 28 new projects will create
754 new jobs, 3,325 new accommodation capacities and 700,000
more overnight stays. In 2009, the Tourism Directorate will focus
on the development of programmes for ecological management of
beaches and marinas, upgrade other environment-related tourism
programmes and key brand names of Slovenian tourism, as well as
unify the categorisation of accommodation facilities.
mERCATOR RANkS 40Th IN CENTRAL
EUROPE IN TERmS Of REVENUE
The largest Slovenian company in terms of 2007 revenue (EUR
2.4bn), retailer Mercator, has placed 40th on a list of the largest
companies in 17 Central European countries, according to data from
the auditing firm Deloitte. The second biggest Slovenian company is
the energy group Petrol (EUR 2.1bn; 57th), Deloitte reported on 11
September. The top 10 Slovenian companies on the list also feature