Czech Republic enjoys record number of foreign investors in 2008, but not record investment

22-01-2009

The government agency CzechInvest said that it secured a record number of foreign investors in 2008, but that the amount invested in the Czech Republic fell overall. Some 213 new foreign investors poured their money into the Czech Republic in 2008, but the value of this investment came to a total of 30 billion crowns (1.41 billion USD), 41 billion crowns less than in 2007. Most of this money went into research and development and the service industry, a spokesperson for CzechInvest said.

At the briefing on Thursday, the agency’s general director Alexandra Rudyšarová said that the Czech Republic lost two major car contracts in 2008 due to the ongoing global financial crisis. Ms Rudyšarová said that the two contracts were worth several billions of crowns each, but both were scrapped when the automobile industry started to feel the effects of the economic downturn.