Germany is the biggest markets for Slovak exports, which consist largely of cars and vehicle parts and bodies. PSA Peugeot Citroën, Volkswagen and Kia Motors all have major plants in Slovakia.
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"We reshaped the economy from the production of weapons in the 1990s… and now we are producing cars," Peter Kažimír, the deputy prime minister and finance minister of Slovakia, told CNBC in the capital city of Bratislava.
The downside of the economic restructuring is high unemployment, which remained at 13.9 percent in May, while youth unemployment rose marginally to 32.4 percent.
"The government needs to support economic growth, because we need to see a certain level of growth in order to decrease unemployment," said Jozef Síkela, the CEO of Slovenská sporiteľňa, Slovakia's largest commercial bank.
"But there area lot of regulatory issues, which should be smoothened to be easier for investors."
In the meantime, a punt on Slovak stocks may be off the cards for investors, as only five companies are listed on the Bratislava Stock Exchange.
"We don't invest in eastern Europe because markets are so small and illiquid," said Martinec, whose firm has bases in both Slovakia and the Czech Republic.
He blamed the desultory state of the Slovak stock market on the hurried privatizations that followed the fall of the Berlin Wall in 1989. Local aspiring capitalists were quick to take advantage of the confusion that followed, trying to turn a fast profit from buying formerly state-owned companies for as little as one kurona (Slovakia's pre-euro currency).
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"The market (today) doesn't exist because of the trust issue," Martinec told CNBC in Bratislava. "In the rush of privatizations of 1993 and 1994… law enforcement was not in place, so there was room for plenty of people to make a quick buck. Even after that, there have been people offering 10, 12 or 15 percent returns that were clearly not realistic and people have been burnt."
Despite the lack of publicly listed companies, domestic investors are nonetheless putting their money to play, according to Martinec. Areas of interest include high-tech, hospitality and alternative energy.