Škoda Auto Named Investor of the past twenty years

9 Nov. 2012 | CzechInvest, Ministry of Industry and Trade, AFI | With CzechInvest’s assistance, the carmaker has invested more than CZK 36 billion in the Czech Republic and created more than 4,000 new jobs.

For its extraordinary benefit for the Czech economy, Škoda Auto a.s. received the Investor of the Past Twenty Years award at Veletržní palác in Prague on Tuesday, 6 November 2012. The award was presented on the occasion of the announcement of results of the Investor and Business Property of the Past Twenty Years competition organised by CzechInvest and the Association for Foreign Investment in cooperation with the Ministry of Industry and Trade.

With CzechInvest’s assistance, Škoda Auto invested CZK 36.5 billion in expanding its production capacities and created more than 4,000 new jobs in the period from 1998 to 2012. The company is also investing significantly in expanding its research and development activities. Since 2004 it has undertaken to invest more than CZK 2 billion in this area and to create 410 new jobs.

Škoda Auto’s main factory is located in the Czech city of Mladá Boleslav, where the company was established by Václav Laurin and Václav Klement in 1905. The company’s two branch factories are located in Vrchlabí and Kvasiny. After more than a century since its establishment, the company is active in nearly one hundred markets around the world. It is a subsidiary incorporated into the consolidation unit of its parent company, Volkswagen International Finance N.V. headquartered in Amsterdam, the Netherlands.

CzechInvest has been attracting investors to the Czech Republic for twenty years and therefore this year the traditional Investor and Business Property of the Year competition bore the name Investor and Business Property of the Past Twenty years. In addition to the traditional Investor of the Year and Business Property of the Year categories, awards were also presented to investors and business properties that have been extraordinarily beneficial to the Czech economy over the past two decades.

The main partners of the event were the ČEZ Group and ČSOB. CTP Invest was the partner. The supporting partners were the National Gallery in Prague, the agencies Quix and AC&C, Zátiší group and the Association for Recognition of Quality. The media partners were Czech Radio, Ekonom weekly, Prague Leaders Magazine and the magazines Project & Property and Development News.