FDI Summit 2012, 20. and 21. September 2012, Faculty of Economics University of Ljubljana

Opening speech, prof. dr. Dušan Mramor, dean

Faculty of Economics, University of Ljubljana is glad to be offered by Slovenian Times the partnership as the host and member of Program Steering Committee of 2012 FDI Summit.

Faculty of Economics is the school with important international and Slovenian impact. It is recognized by two top accreditations – European and American and ranked close to 1% of the best economic and business schools in the world. And it has contributed greatly to one of the most successful economic transitions until 2005 by offering 6 faculty as ministers and its alumni as president of Slovenia, prime ministers, governors of BS,  top managers etc.

After 2005 two faculties served as ministers but resigned shortly after becoming ministers as political issues prevailed economic rationale. The government lead politically motivated but economically irrational procyclical economic policy in times of overheated world economy, introduced anti-pension reform with increasing pensions, expansion of budget expenses and reduction of taxes. The consequence being, that from 2005 to 2008 foreign debt of Slovenia increased by 160% and deterioration started before the world financial crises. After change in government in 2008 all major reforms were blocked by previous coalition which is now in government and tries to implement more or less the same reforms it blocked previously, facing serious problem of integrity.

Even in such circumstances FELU continued to research the economic developments in Slovenia, produced proposals for improvements and organized numerous conferences to disseminate results and provoke discussion (i.e. 3 on financial crisis, 2 on pension reform, reform of labor market…) and even contributed to public support of reforms. Unfortunately, proposals were not adopted, sometimes the contrary was implemented.

Nowadays the FELU continues to actively research and propose economic policies to overcome the crisis. On the basis of some still existing solid economic fundamentals it is my firm belief that with appropriate diagnosis and economic policy challenges can be overcome in relatively short period of time.

2012     Summit is in line with Faculty of Economics’ endeavors as It focuses on important aspects of economic situation and development of Slovenia. On relevant foreign views on Slovenian economy, politics and business. Contrasted by governments’ strategy of internationalization and the role of foreign capital. On little known and much different FDI potentials of Slovenia than recognized so far – High Tech sector. On energy sector as general growth potential. With conclusion on future FDI attitude of Slovenia by high political representatives including the president of Slovenia.

We are now in the premises of Faculty of Economics, University of Ljubljana and university is by constitution autonomous in creating and disseminating knowledge. Therefore, I am sure that this spirit will also be present at FDI Summit 20102 and I am looking forward to frank and open discussion based on solid arguments. As the research shows and we teach our students, honest and comprehensive information on actual overall standing of finance seekers is crucial to long-term successful relationship and success of both finance seeker and financier.

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