Automotive giant - Czech Republic attracts more and more Asian investors
30 May, 2017
Asian investors based in business hubs such as Singapore and Hong Kong aim to invest significant amounts to Central and Eastern Europe over the course of the next five years. Target countries are Czech Republic and Poland, as industry leaders in the automotive and aerospace business sectors.
Such interest is led by the Singapore delegation of more than 15 Singapore-based businesses, that also includes the President Tony Tan Keng Yam. Investments in this sector are important part of the President's investment program for Singapore, until the end of his mandate.
Currently, Czech Republic is home for more than 550 engineering staff, part of more than 10 thousand staff of the Asian giant Interplex. The industry is key player in the country, amounting to more than 20% of the total industrial output of the country for 2016, with growth of 10% produced cars each year.
To support the Czech Republic's place in the future, local companies believe combustion engines are going to be gradually replaced by electric, and consequently, investments in that area are key for sustainable development of automotive businesses.
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