H.E. Gustav SLAMEČKA pitches advantages of investing in Czech
Gustav SLAMEČKA, Czech Amb. to the Republic of Korea, has come up with various reasons why Korean companies should invest in the European country.
In an interview ahead of its National Day, which falls on October 28, the diplomat said that as an industrialized economy, the Czech Republic has chalked up success in drawing foreign direct investment.
“The Czech Republic is also the most industrialized country in European Union. Industrial production accounts for 37.8 percent of the economy, while services account for almost 60 percent and agriculture for 2.5 percent,” he said.
“The Czech Republic is one of the most successful Central and Eastern European Countries in terms of attracting foreign direct investment.”
As the reasons to invest in the European country, SLAMEČKA picked a safe investment environment, a well-educated workforce, a favorable labor cost, price stability, and a central location in Europe.
He also said that the country has other advantages like a strong focus on R&D, a stable social/political system, EU membership, high-quality infrastructure, and a transparent system of investment incentives.
Asked about what sectors Korean enterprises keep a tab on, he came up with advanced industries, including ICT, life sciences, nanotech, and the retail sector.
Currently, more than 70 South Korean corporations are operating in the Czech Republic. Included in the list are Hyundai Motor, Nexen Tire, GS Caltex, Doosan, Hanwha, and Hyundai Mobis, to name but a few.
SLAMEČKA also noted that Czech is full of tourist attractions where South Koreans can visit once the COVID-19 comes under control.
“We can expect the whole tourism industry to resume in post-COVID-19 times in a bit different way than we were used to. Travelers and tourists might be more sensitive about healthcare, destination safety, social distancing, shared accommodation, etc.
“While driving rental cars, Korean travelers could easily organize a romantic tour around many Czech castles and chateaux forts – we have technically around 2000 of them in the Czech Republic,” he said.
“But I would recommend the South Moravian UNESCO area of Lednice and Valtice castles that are located in the midst of wineries and are surrounded by a peaceful landscape and preserve local Moravian folk culture, costumes, and music till nowadays.”