"FICTION, WHICH UNDERESTIMATES MY BRAINPOWER
About president's "opposition" to foreign capital.
Statement by the president Milan Kucan for Radio Slovenia after the talks with representatives in Alpina company

Ziri, 21 February 2002


"Question: What about your alleged opposition, in the opinion of some, to foreign capital entering Slovenia in cases of acquisition of certain companies, including Nova Ljubljanska Banka?

MILAN KUCAN: That is a product of fiction, which almost underestimates my brainpower. I do, after all, live in a world for which I know that openness is a rule. Anyone opposing that would be cutting the branch he is sitting on.

It is not unimportant, however, in what way foreign capital comes to Slovenia and what it is used for. From the unsystematic influx of capital to Slovenia one could conclude that Slovenia has no clear strategy of where it wants to preserve its ownership. If we are so keen on comparing ourselves with the developed world then we should ask ourselves, in the case of banks, for instance, why the so-called developed world keeps most of its banks under domestic ownership, though not purely in domestic ownership, some are also in joint ownership, some in foreign ownership. We should also ask ourselves which industries could be kept under domestic ownership?

Last but not least, experience shows that enterprises in joint Slovenian and foreign ownership are actually among the most successful companies in Slovenia. This is my answer. I'm glad to give it to those who wish to hear it in order to have a realistic image of Slovenia as it is today and as it is to be. Those, however, who believe that Slovenia can be like a company that is once in the hands of some, then in the hands of others, and where we will have to only follow the interests of the owners, well those do not share my opinion."