TENDENCIES IN THE INTERNATIONAL INVESTMENT POLICY IN SLOVAKIA IN THE CONDITIONS OF GLOBAL INSTABILITY

The study is devoted to analysis of investment activities in Slovakia. Statistical and analytical data are given, showing the dynamics of direct foreign investment in Slovakia. It is stressed that Slovakia pursues a consistent policy aiming to improve the economic structure, create the favorable environment for the operation of foreign companies and reduce the unemployment. To stimulate the investment activity in the conditions of global instability, the Slovak government employs the instruments for providing non-performing money from EU funds, to be invested in infrastructure projects. The estimated spending on these purposes for the period from 2013 till 2020 amounts to 1.5 billion euro. Issues of implementing the policy on investment stimuli are a responsibility of the Slovak Agency on the Development of Investment and Trade. In 2020, the Slovak government enforced «Program for Stability of the Slovak Republic for 2020–2023», the core medium-term document pertaining to the Slovak economy. The document had been elaborated by the Ministry for Finance of the Slovak Republic and approved at the session of the Slovak government on 18.05.2020. The Program specified budget, fiscal, monetary policies of the government in the conditions of economic crisis unfolding in the Slovak Republic amidst the global economy recession and the pandemic of COVID-19. Key directions for enhancing the investment attractiveness of the Slovak economy are determined. The necessity to change the strategy for investment attraction by strengthening its focus on infrastructure and services is argued. The attraction of investment to infrastructure, domestic services and green economy requires established markets for new sectors (e. g. markets of renewed energy sources, water supply and sanitary services, health service) and focus on the other type of financing (project-based financing in place of traditional foreign direct investment) and other types of investors (e. g. investors in additional-impact projects, institutional and social investors) operating in the other policy ecosystem (standards and rules for regulation of financial market).