SWOT Analysis of the Joint Economic Region

Strengths

• Common traditions in the industrial core branches (especially in mechanical engineering, civil engineering, chemical industry, glass industry, and power industry)
• Numerous potentials as well as a sufficient raw material base for the development of existing and new branches
• New economic sectors which are developing rapidly and dynamically (in particular electronics, new materials, automotive industry, environmental engineering, and renewable energies)
• Common traditions in research and development

Weaknesses

• Lack of investment resources for innovations and high-tech production for small and medium-sized businesses
• Difficult situation of public budgets (influencing e.g. infrastructure)
• Lack of national and international cooperation among R&D, educational, and service institutions as well as manufacturing enterprises
• Different national rules for implementing and protection of own know-how and trademarks
• Linguistic barriers (insufficient command of the neighbouring languages)

Opportunities

• Public and private support of technical education in schools
• Expanding the support system for applied R&D as well as innovation and the efficient utilization of available specialists
• Professional support for international cooperation in all important development sectors through joint projects and networks
• Improved information on the development potentials within the 3-Nation-Economic Region through creation of joint information platforms

Threats

• Emigration of specialists from the 3-Nation- Economic Region
• Limited public R&D and innovation resources
• Neglecting and ignoring global and innovative trends and developments by public authorities and enterprises (with regard to economic cooperation and marketing)
• Instability due to unforeseeable economic and social trends and developments