Japanese investors complain to Czech president Zeman

Japanese investors complain to
Czech president Zeman
10:59 2015-04-13
CIJ Journal
Documents attached:
Japanese investors active in the Czech Republic
complained to Czech president Miloš Zeman recently that
the Czech state isn’t fulfilling its promises and that it
continually changes the legislation and tax regulations for
businesses. Denso, for example, claims the government
never built the new road to its factory in Liberec it
promised in 2004. The automobile AC supplier employs
1550 staff and produces annual revenues of CZK 8.5bn.
The car manufacturer TCPA Kolín complained that overly
complicated visa regulations make it difficult for Japanese
engineers to travel flexibly to the country.
The Japanese government agency for business and
investment in the Czech Republic says that around 80
Japanese companies plan to expand in the Czech Republic.
But the head of CzechInvest Karel Kučera has warned that
they could be discouraged by the lack of skilled labor.
Japanese companies started with simple production in the
Czech Republic in the 1990’s, but are now considering
whether to move R&D centers to the country. In all,
Japanese companies have invested roughly CZK 118bn in
the Czech Republic since 1993 and created 44,000 jobs in
the process.
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