CzechInvest sets its sights on more investors from China

CzechInvest has signed an agreement on cooperation with the China Council for the Promotion of International Trade, representing 16,000 companies that operate in China’s richest province, Zhejiang. The objective of the agreement is to attract new Chinese investors to the Czech Republic.

“Today a large number of Chinese companies are part of the elite group of enterprises that can afford to undertake new investments even with the global economy in its current state,” says CzechInvest CEO Alexandra Rudyšarová, explaining the agency’s activities. “Sectors such as mechanical engineering and energy are promising areas for new investments from China, which needn’t necessarily be implemented on greenfields; acquisitions and joint-ventures offer far greater opportunities for Chinese investors.”

“Thanks to CzechInvest’s mediation, there are currently five companies from mainland China and 22 from Taiwan operating in the Czech Republic. I believe that within two years at least four or five more will come,” says Jaromír Černík, director of CzechInvest’s Hong Kong office. “For example, we are currently preparing visits from Chinese businesspeople and representatives of sectoral associations from ten economically significant regions.”

The signed agreement guarantees mutual recommendation of business opportunities and contacts, organisation of joint trade missions and, for example, exchange of information on the investment environment, research opportunities, etc. The Zhejiang branch of the China Council for the Promotion of International Trade has similar agreements with, for example, Poland, Hungary and the countries of Scandinavia.

Zhejiang Province

Zhejiang province is located in China’s most advanced region, on the country’s southeast coast. It benefits from its strategic position between Shanghai and Taiwan. The capital of the province is Hangzhou. More than 47 million people live in Zhejiang. The province’s economy is focused primarily on electronics, construction and the textile industry. Eleven of the 13 wealthiest cities in China are located in Zhejiang province.

For more information please contact the CzechInvest Press Centre

Lucie Kocourková, spokesperson, phone: +420 296 342 538, lucie.kocourkova@czechinvest.org