July 14, 2017 / 11:31 AM / a year ago

FDI in Slovenia up by 11.2 pct in 2016 - c.bank

LJUBLJANA, July 14 (Reuters) - Foreign direct investment in Slovenia amounted to 1.3 billion euros ($1.48 billion) in 2016 to reach a stock of 12.9 billion euros or 32.6 percent of GDP, the Bank of Slovenia said in a report on Friday.

One of the biggest investments in that year was the purchase of the country’s third largest bank Nova KBM which was bought by U.S. investment firm Apollo Global Management and the European Bank for Reconstruction and Development for a total of 250 million euros.

Slovenia is trying to attract more foreign investment in order to reduce unemployment and ensure long-term economic growth by giving financial support to investors from abroad.

In March the government awarded financial support to three foreign investment projects which include Canadian car parts maker Magna International’s plan to build a paint shop in Slovenia and Japanese Yaskawa Electric’s plan to build a robot factory in the country.

Slovenia, which narrowly avoided an international bailout for its banks in 2013, returned to growth a year later and the government expects the export-oriented economy to expand by 3.6 percent this year versus 2.5 percent in 2016. ($1 = 0.8760 euros) (Reporting By Marja Novak; Editing by Alison Williams)

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