News

2009-11-12 New Czech branch abroad

CzechInvest, Investment and Business Development Agency of the Czech Republic, has placed its new foreign office in Sunnyvale, California.

Alexandra Rudysarova, CzechInvest CEO, stated that the agency aims at attracting American investments into the Czech Republic with help of the new office opened in October this year. The location is supposed to favor interactions with local market of the West cost. CzechInvest has already one another post in Chicago.

The United States is the largest investor in foreign markets, said Ms Rudysarova. Since establishment in 1992 CzechInvest brought 138 projects from the US to Czech on the total amount of CZK 53.359 billion (equal to USD 2.053 billion). These investments allowed for creation around 28 thousands posts.

Considering biotechnology-related areas US invested around USD 89 million in chemicals and pharmaceuticals in Czech creating over 750 job positions within the period of 1992-2009. One of the largest projects from the field was supported by the healthcare company Baxter, which itself invested over half of the given amount (USD 56mln) in 2004.

More information available at CzechInvest website

Magdalena Zychlinska-Jackiewicz

Source: Czechinvest