16th May 2014

Prime minister expressed support to the biggest foreign investment in 8 years

Czech Prime Minister Bohuslav Sobotka and Minister of Industry and Trade Jan Mládek during their visit to the Triangle industrial zone in Ústecký kraj expressed governmental support to the plan of Nexen, Korean tire manufacturer. Nexen is about to invest approximately CZK 40 bn and build its factory in Triangle industrial zone near Žatec. Deputies of Ústecký kraj already agreed to sell necessary building lots there for a favourable price of 1 Euro per sq. meter in the first wave where the local authorities will sell 60 ha of total 70 ha needed. This investment is crucial for the region as the rate of unemployment there is high and Nexen could create up to 2300 workplaces. After this declaration of support from the Prime Minister and Minister of Industry and Commerce it is likely that the government will approve incentives for this investment before July 2014 as stricter conditions for the governemntal investment incentives would apply after this date.

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Members of the American Chamber of Commerce in the Czech Republic