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Sophisticated investments find their way to the Czech Republic

(News - Detail)

Date : 22.03.2007

The Czech Republic has experienced year-on-year growth in the number of foreign investors` technology centres. In the year 2006 eleven foreign companies have decided to establish research-and-development centres in the country and are planning to hire 420 employees. In the whole of 2005 only eight international companies established such centres in the Czech Republic.

Foreign direct investments have contributed to the transformation of Czech industry, while at the same time stimulating the creation of the knowledge economy. Companies that are coming to the Czech Republic are still investing in production, but after having good experience in the Czech Republic they often establish technology centres. This is an indication that such companies considering staying in the Czech Republic for a long time, because investments in research and development are of a more enduring character.

The Czech Republic is in a very good position among countries receiving intensive interest from global IT companies. This is demonstrated by the example of Sun Microsystems, which opened an advanced development centre in Prague in spring 2006. In the Moravia-Silesia region Bang & Olufsen has established a centre for the development of new products which should employ 70 developers.

In the latest rankings by significant consulting firms, the Czech Republic appeared as the most attractive location for shared services centres. According to A.T. Kearney, the Czech Republic ranked seventh in the world in 2005 as an ideal location for provision of global services, whereas a study by the Economist Intelligence Unit ranks the country in third place immediately behind India and China. The Czech Republic is also starting to be a popular location for international companies` regional headquarters.


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