Czech Republic woos Indian companies to invest

Czech Republic today invited Indian companies to invest in its potential sectors to further strengthen the mutual trade that has grown by 42 per cent in the first half of 2008.      

"We invite the Indian corporates to invest in several potential sectors such as Information Technology, Biotechnology, Pharmaceuticals, high tech electronic engineering, etc, so as to exploit these areas," said CzechInvest Managing Director A Rudysarova in an interactive session on 'Investing in Czech Republic' held here.      

CzechInvest is a government-owned business development agency.     

Stating that Czech Republic is ranked 33rd among 131 world economies in competitiveness, she said that the government would even offer financial support including tax incentive, low rate of tax and land at discount prices to companies which want to set up their units in the country as part of its initiative to attract foreign investments.     

Giving details regarding investments by different countries, she said Germany has a share of 24 per cent in total investments in Czech Republic followed by Japan and South Korea by 15 and 8 per cent, respectively.     

Automotive sector continues to have 45 per cent share in terms of sector specific capital infusion and 13 per cent by chemicals, biotechnology and plastic, she said.