Slovakia wants to remain a strong industrial country in Central Europe. That is why it has recently attracted multi-billion-euro investments from foreign companies, continued developing its nuclear energy sector, and sought ways to retain skilled workers and young talent. Minister of Economy Denisa Saková (HLAS-SD) discusses all these topics.
Next year, another major car manufacturer – Swedish-Chinese Volvo – is due to begin production near Košice. How significant a boost could this be for the Slovak economy, and particularly for eastern Slovakia?
We see Volvo’s arrival as one of the most significant investments of recent years. We are talking about an investment of approximately EUR 1.2 billion, with production scheduled to begin in 2027, an annual production capacity of up to 250,000 vehicles, and more than 3,000 direct jobs. Every investment of this kind naturally creates thousands of additional employment opportunities throughout the supply chain, services, logistics, education, housing and infrastructure. For eastern Slovakia, this is a crucial opportunity. Strategic investments of this scale can significantly transform the economic level of an entire region – they create stable jobs, put upward pressure on skills and wages, and give young people a reason to remain at home and build their future where they grew up. In this respect, Volvo is one of the strongest boosts Slovakia has received in recent years. I also consider other regional investments equally important. One example is Winkelmann in Rimavská Sobota, which we managed to stabilise and retain after taking office. We are talking about an investment worth more than EUR 110 million, which has already created around 180 jobs and is expected to provide around 300 by the end of this year, with the overall plan envisaging more than 450 jobs. Rimavská Sobota has long been one of Slovakia’s regions with the highest unemployment and comparatively lower wage levels. In regions such as this, investments are of enormous importance.
Slovakia has commissioned two new nuclear power units and concluded a major agreement with the United States to develop additional nuclear capacity. How did you manage to achieve such progress despite a rather difficult economic and political situation?
Slovakia has a strong tradition in nuclear energy, and today it is becoming increasingly clear that investing in nuclear power was the right decision, even at a time when part of Europe was moving away from it. Slovakia maintained this strategic direction and, thanks to that decision, today ranks among the countries with one of the most stable energy systems in the region, with one of the lowest emission levels. The recent loading of the first fuel assembly into Unit 4 of the Mochovce Nuclear Power Plant marked a historic milestone and the beginning of the final phase before commissioning. Once operational, this unit will cover approximately 13 per cent of Slovakia’s total electricity consumption, significantly strengthening our energy self-sufficiency, the security of supply and our ability to maintain predictable energy prices. At the same time, we are looking ahead. Our government has decided to build a new nuclear power plant at Jaslovské Bohunice under full state control. In this project, we are building on what Slovakia has developed over decades – an existing nuclear site, established infrastructure, strong professional expertise, the experience of our specialists, and proven licensing and safety procedures. Making use of the existing site and capacities significantly simplifies project preparation, the permitting process and the construction itself. It reduces investment risks, shortens preparation time and further strengthens Slovakia’s ability to develop another strategic energy source efficiently and safely for future generations. At a time when Europe is dealing with high energy prices, decarbonisation and security of supply, nuclear energy represents a genuine strategic advantage for us.
The Czech Republic is facing a significant labour shortage and has recently recruited thousands of workers from the Philippines. Is Slovakia facing similar challenges, and if so, which countries are you considering as priority sources of foreign labour?
This is a topic that comes up at virtually every meeting with business representatives. Following the outbreak of the war in Ukraine, Ukrainians naturally entered our labour market and successfully filled positions in sectors where workers were lacking. Employers are also hiring workers from third countries to a sustainable extent. However, the Government of the Slovak Republic is taking a very cautious approach to broadly relaxing the rules governing the recruitment of workers from third countries. Our priority is first and foremost to bring into the workforce the remaining five per cent of unemployed people and to retain our domestic workforce. That means creating conditions so that people do not have to leave their regions or move abroad in search of work, but instead have access to quality employment opportunities at home. That is also why we support new investments throughout Slovakia, bringing jobs directly to the regions. Equally important is linking education with practical experience – developing dual education, vocational schools and technical fields so that we can train our own specialists to meet the needs of a modern economy. This is particularly important in strategic sectors such as energy and the nuclear industry, where a natural generational transition is taking place and where we need to prepare a new generation of professionals in a systematic way.
Since you mentioned education – as in previous years, thousands of Slovak students are applying to Czech universities. Is this beneficial for the Slovak economy, or what challenges does it create for Slovakia?
Student mobility, including through the Erasmus programme, has long been ranked by Eurobarometer surveys as one of the greatest benefits of European integration and EU membership. Naturally, people make use of the free movement of persons, one of the four fundamental freedoms of the EU Single Market. The fact that many Slovak students study in the Czech Republic has two sides. On the one hand, it is both natural and positive that young people take advantage of high-quality universities within the shared Czech-Slovak environment. The Czech Republic is close to us linguistically, culturally and historically. On the other hand, it becomes a problem if a large proportion of these talented young people never return to Slovakia. For the economy, this means a loss of talent, innovation and future experts. That is why we must create conditions that encourage young people to return – quality jobs, strong universities, modern companies, affordable housing, and a state that does not make their lives unnecessarily difficult.
The author is a European editor of Deník
CV BOX
Denisa Saková (born April 17th 1976 in Nitra) is the Minister of Economy and the Deputy Prime Minister of the Slovak government.
In 1999, she graduated from the Faculty of Economics at the University of Economics in Bratislava, her field of study being financial management and finance. She successfully obtained her PhD in insurance at that same faculty in 2006.
Starting in 2007 she worked at the Ministry of the Interior, first as Director of IT Department, then as Head of Civil Service Office. She was a significant participant in preparing Slovakia for entering the Schengen Area.
In 2016, she ran for parliament for the SMER party, she was elected, but gave up the post, because she became the Secretary of State for the Ministry of the Interior.
In 2018, she was named Minister of the Interior, and held the post until March 2020. In the February elections that same year, she was once again elected a deputy for the SMER party, later in the summer of 2020 she joined Peter Pellegrini’s new HLAS-SD party.
In 2023, she successfully ran in the parliamentary elections, and was named Minister of Economy on the 25th of October.
She is divorced, and has a son.
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