While cost is always a factor, it is only one of many considerations that influence the choice of destinations for foreign direct investment. Other key factors include an educated and highly skilled workforce, high living standards, and a diverse culture. Also important is government support for building an economy of the future. In Czechia, this includes government support for finding international partners to work with Czech research organizations and innovative companies, establishing long-term partnerships with foreign institutions, and finding ways to bridge the gap between the industrial sector and academia. All the listed factors are available in the heart of Europe.
The Czech Republic prides itself on having an open economy that welcomes foreign direct investment in all sectors.
Major multinational companies with manufacturing subsidiaries in the Czech Republic include ABB, Continental, TPC, Hyundai, Ford, Matsushita, Nestlé, Phillip Morris, Procter & Gamble, Renault, Siemens, and Volkswagen. The Czech Republic offers companies a number of advantages including: its geographical location, its reliable infrastructure, the availability of suppliers and specialized inputs needed by multinational companies, its high quality of life and social stability, its competitive cost structure, its financial stability, and the availability of financing and investment incentives. It also has a skilled workforce and a high general level of education. Czechia is a very attractive location for a broad range of investment activities and companies.