Privatization in Slovakia occurred primarily in the 1990s as a result of the

Velvet Revolution The Velvet Revolution ( cs, Sametová revoluce) or Gentle Revolution ( sk, Nežná revolúcia) was a non-violent transition of power in what was then Czechoslovakia, occurring from 17 November to 28 November 1989. Popular demonstrations agains ...

in 1989 and after the creation of

Slovak Republic Slovakia (; sk, Slovensko ), officially the Slovak Republic ( sk, Slovenská republika, links=no ), is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the s ...

in 1993 due to the splitting of

Czechoslovakia , rue, Чеськословеньско, , yi, טשעכאסלאוואקיי, , common_name = Czechoslovakia , life_span = 1918–19391945–1992 , p1 = Austria-Hungary , image_p1 ...

. While the

Czech Republic The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...

, under the leadership of President

Václav Havel Václav Havel (; 5 October 193618 December 2011) was a Czech statesman, author, poet, playwright, and former dissident. Havel served as the last president of Czechoslovakia from 1989 until the dissolution of Czechoslovakia in 1992 and then as ...

and Prime Minister

Václav Klaus Václav Klaus (; born 19 June 1941) is a Czech economist and politician who served as the second president of the Czech Republic from 2003 to 2013. From July 1992 until the dissolution of Czechoslovakia in January 1993, he served as the secon ...

, has emerged as a favorite for Western investors and entrepreneurs, Slovakia under autocratic Prime Minister

Vladimír Mečiar Vladimír Mečiar (; born 26 July 1942) is a Slovak politician who served as the prime minister of Slovakia three times, from 1990 to 1991, from 1992 to 1994 and from 1994 to 1998. He was the leader of the People's Party - Movement for a Democra ...

struggled with the transition.

Background

Privatization in Slovakia started even before the creation of the

on 1 January 1993. The so-called "first wave of voucher privatization" started in

Czechoslovakia , rue, Чеськословеньско, , yi, טשעכאסלאוואקיי, , common_name = Czechoslovakia , life_span = 1918–19391945–1992 , p1 = Austria-Hungary , image_p1 ...

in November 1991; Czechoslovak citizens could order shares of state-owned companies using the technique as part of the transition to the private sector.

History

On 6 January 1993, Prime Minister

announced that Slovakia would not continue its

voucher privatization Voucher privatization is a privatization method where citizens are given or can inexpensively buy a book of vouchers that represent potential shares in any state-owned company. Voucher privatization has mainly been used in the early to mid-1990s i ...

, but would continue the privatization process in different ways. The Minister for Privatization in the First Mečiar government was Ľubomír Dolgoš ( HZDS), who was perceived as an independent economist. Despite his hasting of the privatization process, privatization effectively stalled in Slovakia. According to Dolgoš, various Ministry offices did not work on preparing privatization but instead they were only concerned with how to find ways to give certain state-owned companies to certain people. In June 1993, after conflicts with Mečiar, Ľubomír Dolgoš resigned as a Minister and left the political party HZDS. After the

President of Slovakia The president of the Slovak Republic ( sk, Prezident Slovenskej republiky) is the head of state of Slovakia and the commander-in-chief of the Armed Forces. The president is directly elected by the people for five years, and can be elected for ...

Michal Kováč Michal Kováč (3 August 1930 – 5 October 2016) was the first president of Slovakia, having served from 1993 through 1998. Early life Kováč was born in the village of Ľubiša in then Czechoslovakia in 1930. He graduated from the present- ...

refused to name

Ivan Lexa Ivan Lexa, Ing. (born August 18, 1961 in Bratislava) is the former head of the Slovak Secret Service from 1995 to 1998. One of the closest allies of the former autocratic Prime Minister of Slovakia Vladimír Mečiar, under Lexa the Secret Service ...

the next Minister of Privatization, Mečiar officially took over the responsibilities of the Minister and named Lexa the Deputy Minister ( sk, štátny tajomník). On 5 August 1996 the FNM Presidium President Štefan Gavorník said that the agency is preparing to privatize firms, including banks, under pressure from the ministers of agriculture, economy, and construction and public works, in spite of Prime Minister

's written pledge to the Party of the Democratic Left (SDĽ), in which he guaranteed a halt to privatization.

State companies in preparation to be privatized

* Letecké opravovne v Trenčíne (LOT)

References

{{Slovakia topics

Background

History

State companies in preparation to be privatized

See also

References