Slovakia has been a major manufacturing centre for many years, from the early 2000's. The Slovak Govt introduced tax incentives for businesses to relocate there.
The country has a simplified flat rate tax system. The Slovak people are good workers. The country has a major steel industry, that was inherited from the Communist era.
The Danube forms the Western third of their border with Hungary, and is a substantial transportation route - and it also brings lots of tourists to the country, which is very scenic.
The Slovak rail system is modernised, and links with the rest of Europe. The country is well placed in amongst many other European nations with whom it trades, and it is part of the EU.
All in all, it is a very favourable place to manufacture.
Meantimes, Australia is placed in the most isolated and Southerly part of the globe, well away from any potential trade neighbours. Our tax system is complex and fragmented. Our rail system is poor.
Our highway system is fairly good, but trucking is expensive as compared to rail, even with the use of road trains.
Our workforce declines to work in factories, so trying to find lowly factory workers is difficult. Every Australian aspires to be a major property investor, and to find highly-paid managerial-style jobs.
We are last on a long list of requirements to be a major manufacturing economy. We dig up lots of valuable minerals, and sell them to the rest of the world, that is our forte.
We also bring in a serious level of money via the education system, which, while not as strong as it was pre-pandemic, still carries out a major level of quality education to the nations in Asia and the Subcontinent.