Czech-Taiwanese cooperation is flourishing

Cooperation between the Czech Republic and Taiwan Has Been Flourishing in Recent Years As one of the managers of CzechInvest, how do you perceive the cooperation between the Czech Republic and Taiwan in the area of investment? One of CzechInvest’s key roles is to help foreign investors establish their operations in the Czech Republic and boost business opportunities for both foreign investors and Czech companies. It is safe to say that Taiwan is one of the key investors in the Czech Republic from the region of South-East Asia, which reflects the larger extent of investment from China in the Czech Republic in the recent years. According to CzechInvest's statistics, since its establishment in November 1992 CzechInvest has helped Taiwanese enterprises to invest around USD 750 million and create over 23,000 jobs opportunities in the Czech Republic. These companies are also very important when it comes to Czech exports. There are also Taiwanese investors, namely for instance Foxconn CZ, that are counted among the largest Czech exporters. In 2018, Foxconn CZ ranked as the Czech Republic’s second largest exporter after Škoda Auto. What are the crucial sectors of Taiwanese investment in the Czech Republic? The key areas of investment are electrical components and consumer electronics. These two areas account for 70% of investments from Taiwan. Other sectors are in the area of telecommunications and other machine parts. If we look back in history, the first significant special 2019 Taiwanese investment was that of the computer manufacturer First International Computer (FIC), Inc. which built a computer assembly plant worth USD 100 million in the Czech Republic. The company launched operations in February 1998 with production of 10,000 computers per month. The number of manufactured computers increased to 50,000 per month by 2000. Computers are produced for both the Czech market and the wider region of Central and Eastern Europe. In 2008, the Czech subsidiary of FIC was acquired by Foxconn, currently the major investor from Taiwan in the Czech Republic. The initial investment of Foxconn in the Czech Republic was estimated at USD 40 million. In August 2000, FOXCONN CZ, s.r.o. started the production and assembly of components and computers by Apple, Compaq and IBM as well as mobile phones, and its activities have grown ever since. Foxconn is also significantly developing collaboration with universities in the area of research and innovation. What activities does CzechInvest conduct to help foreign investors in the Czech Republic? This can be divided into two areas. The first part is business as usual. We like to call our services a one-stop shop, meaning that we help from the beginning until the end of the investment project. CzechInvest’s services include information and business intelligence, consultancy on available financial support for investment projects (investment incentives), identification of greenfield and brownfield sites, production facilities and offices, liaison with government bodies, identification of potential acquisition, joint-venture and supply partners and tailored visits to the Czech Republic. Our support for investors does not end at this point. We also provide aftercare services. One of the key areas is facilitation of visa processes and programmes for hiring foreign employees. Another area is direct contact with Taiwanese companies in their own country. We have an office in Shanghai which is ready to support Taiwanese investors. Thanks to close cooperation with the Czech Economic and Cultural Office in Taipei, CzechInvest is going to be a part of a delegation to Taiwan in September this year. During the visit, CzechInvest will hold a business seminar for the Taiwanese investors already operating in the Czech Republic. This will also be an opportunity to show Taiwanese investors modern trends in the Czech economy and possibilities for further investment, especially in R&D. We have been talking a lot about the investments of Taiwanese companies in the Czech Republic. What makes the Czech Republic so attractive for foreign investors? The Czech Republic is no longer a place for labor-intensive investments, though it still has plenty to offer with respect to value-added projects and research, for example in the areas of artificial intelligence, robotics and