CzechInvest negotiates EUR 386.5mn investment commitments last year.

By bne IntelliNews February 4, 2010
The state investment promotion agency CzechInvest negotiated 186 projects worth CZK 16.9bn (EUR 638.6mn) in 2009, CzechInvest chair Lucie Kocourkova announced. Both the number of projects and their overall value decreased by 12.7% y/y and by 43.4% y/y, respectively. The adverse development mainly reflected suppressed investors sentiments about future developments and persisting uncertainty following the crisis. The largest 45.2% share of total projects was in R&D, followed by 36% of projects in strategic investments and 18.8% in production activities. The new projects created employment for 5,769 people, of which 18.2% (1,050) university graduates. One of the most important projects in production activities last year was of the countrys largest car manufacturer Skoda Auto which invested CZK 1.5bn into expanding its gear-box production in its Mlada Boleslav plant. Local companies have the largest share in value terms, followed by German and Austrian companies.

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