The CzechInvest agency, which focuses among other things on attracting large foreign investments in the field of advanced technologies to the Czech Republic, has negotiated a total of 28 investment projects worth almost CZK 60 billion in 2024. These will bring more than 3,400 new jobs. The roughly threefold increase in the number of projects and the volume of investments indicates a revival of investment activities.
“Last year we have seen an increase in the interest of foreign companies to invest in the Czech Republic and an overall revival of investment activities, which I am very happy about. Investors are particularly attracted by our location in the centre of Europe, our quality workforce and our well-developed business infrastructure. Following the implementation of our Economic Strategy: the Czech Republic to the Top 10, the implementation of investment promotion programmes and the National Semiconductor Strategy, we expect that the interest of companies in investing in advanced technologies, clean mobility and the semiconductor industry will grow in the future,” said Lukáš Vlček, Minister of Industry and Trade.
Morethan seventy percent of the investments arranged by CzechInvest last year were expansions, i.e. the expansion of companies’ activities. In addition to the manufacturing industry, in two cases the investments were in the creation of a technology centre and two investments were in the area of software development. Most of the investments were pledged by companies with parent companies in Germany and the USA, which are traditionally among the most important source countries for foreign direct investment. The share of investments by Czech companies is similarly significant. The most popular target location last year was the Ústí nad Labem region with seven announced investment projects.
“The Czech Republic remains an attractive country for foreign investors, but in order to maintain this position we need to make significant progress in preparing industrial parks, simplifying permitting procedures and improving investor access to electricity. Investment incentives also play an important role in the current international environment. At the same time, we must continue to deepen cooperation with key investors from developed countries, build trust, readiness and work on the attractiveness of the investment environment in the Czech Republic to not only attract more strategic investments, but also to continue to develop cooperation with already established companies,” adds Jan Michal, Director General of the CzechInvest agency, which last year accepted applications for investment incentives from 23 companies, a significant increase compared to 2023.
In 2024, CzechInvest implemented a number of activities to attract new investors and to support the investment environment in the Czech Republic. At the end of May last year, the first edition of the Czech Investment Forum with the subtitle Invest in People took place. The event was held in cooperation with the Organisation for Economic Cooperation and Development (OECD), which presented its own research on the impact of foreign investment on the productivity and innovation of small and medium-sized enterprises in the Czech Republic. In addition, the Agency organised 54 marketing events to promote FDI inflows and 13 inbound investor missions to the Czech Republic. Supporting business missions abroad was also an important activity.
Last year, CzechInvest’s foreign network was also expanded, with the addition of a representative office in Taiwan to the seven existing offices. The CzechInvest Agency supports investments in strategic areas with the aim of strengthening competitiveness, sustainable development and increasing the innovation potential of the Czech economy. It focuses on the semiconductor industry, clean mobility, circular economy and renewable energy technologies, artificial intelligence and advanced materials and technologies. This focus corresponds to the priorities defined in the new Economic Strategy of the Czech Republic, which was presented in October 2024.
This year, the CzechInvest agency plans to organise Czech Semicon Days and the second edition of the Czech Investment Forum focused on the semiconductor industry. In line with the National Semiconductor Strategy from last year, the agency is preparing a programme to support Czech suppliers in this sector. The aim is to involve Czech companies in the international semiconductor supply chain. Other key areas are the development of battery technologies or the exploitation of the potential of the development of artificial intelligence. Economic relations with technology companies and cooperation with companies from a number of developed countries in Europe, Asia and North America are also being strengthened.
More information on investment projects for 2024 can be found here.
