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The Czech Republic is the investment star of Central Europe

An Irish web portal ranks the country as prosperous and attractive in terms of investment

14.06.2016

Eurostat recently published a comparison of data on the GDP and purchasing power of European countries in 2015 which shows that the Prague region is the ninth most successful region in Europe. This information was reported by the Independent.ie web portal.

“Only two hours by direct flight from Dublin, the Czech Republic, with a population of 10.5 million, is probably best known for short breaks to its magical capital city Prague, Škoda cars, excellent beer and great tennis players. But it is also an economy on an upward curve – and therefore opportunities for Irish business are on the rise,” the article stated. The article also presents Czechs as being quite pragmatic, result-oriented and technically competent employees.

The Prague region attracted numerous multinational investors in the past, mainly in the automotive industry, mechanical engineering, electronics and IT. Since the Czech Republic joined the European Union in 2004, Irish investor’s interest in Central Europe has also grown. According to the Czech Statistical Office, Irish exports to the Czech Republic exceeded EUR 1 billion for the first time in 2015. During its time in operation, CzechInvest has mediated fourteen investment projects of Irish firms in the total value of more than CZK 1.6 billion.

According to The Economist Intelligence Unit’s 2013 “Where to Be Born” index, the Czech Republic has the highest quality of life among new European Union member states and ranks 28th globally.