Liberec - Ministerstvo průmyslu a obchodu€¦ · Liberec Region The Czech Economy in 2006 A Few...

03-042007

LiberecRegion

The Czech Economy in 2006

A Few Comments on Taxes

The Most Important Changes in Czech Law in 2007

C O N T E N T S

Ministry of Industry and Trade

CZECH BUSINESS AND TRADEEconomic Bi-monthly Magazine with a Supplement is Designed for ForeignPartners, Interested in Cooperation with the Czech Republic

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ADDRESS:Myslíkova 25, 110 00 Praha 1Czech RepublicPhone: +420 221 406 623, +420 221 406 626Fax: +420 224 934 383e-mail: journal@ppagency.czwww.ppagency.czwww.mpo.cz/cbtPress run: 13.500 copies.The number of printed and sold copies of the journal is verified by auditor, HZ Praha, s.r.o.,member of PANNELL KERR FORSTER Worldwide.It is not allowed to reproduce any part of the contents of this journal without prior consent from the editor.Attitudes expressed by the authors of articles carried by CBT need not necessarily be consistentwith the standpoint of the Publisher.MK ČR E 6379, ISSN 1211-2208„Podávání novinových zásilek povoleno Českou poštou, s. p., odštěpný závod Přeprava, č. j. 3468/95, ze dne 24/10/1995“

Liberec

Foreign Investors Acquire Mainly New TangibleAssets in the Czech Republic

■ INTRODUCTIONQuestion of the Month for Martin Říman, Minister of Industry and Trade .............4

■ ECONOMIC POLICYThe Czech Economy in 2006..................................................................................5Foreign Investors Acquire Mainly New Tangible Assets in the Czech Republic........7

■ HOW TO DO BUSINESS IN THE CZECH REPUBLICA Few Comments on Taxes ....................................................................................9The Most Important Changes in Czech Law in 2007 ...........................................11Distance Contracts Subject to Special Rules..........................................................13

■ CZECH TOPSapeli Operates on Foreign Markets .....................................................................14Merko CZ is Focused on the Balkan Market .........................................................15Success of Biomass ...............................................................................................15

■ REGION NUTS 3 – Liberec Region ...............................................................................16–29

■ INVESTMENT2006: Largest Foreign Investment in the Czech Republic .....................................30

■ SERVICESFocus on the Environment in the Czech Republic .............................................32

■ PRESENTATION OF FIRMSPRECIOSA, a.s. ........................................................................................................2EMPLA spol. s r.o. .................................................................................................31GEOtest Brno, a.s. ................................................................................................33SkloAtelier Evans s.r.o. .........................................................................................35Veletrhy Brno, a.s..................................................................................................36

Pro - Tex s.r.o., Cadence Innovation k.s., MSV SYSTEMS CZ s.r.o., Ewals Cargo, Care s.r.o., Doska Česká Lípa, s.r.o., Cutisin, s.r.o., ZVVZ-Enven Engineering, a.s.

Question of the Month for Martin Říman,Minister of Industry and Trade

I N T R O D U C T I O N

M O R E A T :

www.mpo.cz

www.czechtrade.cz

www.ceb.cz

www.egap.cz

www.export.cz

The Programme Declaration of thenew Czech Government promisesa number of changes forentrepreneurs. Which changes doyou consider the most importantand most beneficial toentrepreneurs? And why?The Government’s Programme Declarationlays special emphasis on improvingconditions for sole traders and smallentrepreneurs. Most of the changes weare preparing will facilitate the operationof all companies, both large and small,but it is the latter that we want to pay themost attention to as large companiesmanage to cope wi th var iousadministrative obstacles one way oranother.

We plan, on the one hand, to simplifythe business environment and to modifythe tax system. In both these areas ouraim is to create an environment where thestate burdens sole traders and the self-employed ne i ther by unnecessarypaperwork nor by excessive taxation andsocial and health insurance payments. Anenv i ronment that r ids those whocontribute significantly to the wealth ofsociety of the feeling they are victimisedby the state for their activities.

What progress has been made withthe project you launched last yearto cut the paperwork burden forbusinessmen? One of the main tasks of the Ministry is atpresent to simplify legislation governingbusiness activities. The aim of the projectis simply to remove unnecessary passagesfrom all business laws and decrees. Forthis reason, we have created a chartmapping al l regulations concerningentrepreneurship. So far, there are over150 and more will yet be added. It shouldbe noted that not all of them fall underthe competence of the Ministry ofIndustry and Trade. Specially identifiedareas are thus the subject of consultationswith other ministries. We can alreadyreport the first results, such as anamendment to the decree on hygienerequirements for restaurants, ongoingpreparations for an amendment to

a decree on health aptitude for drivingmotor vehicles, and others. It is clear thatthe simplification of laws and decrees isnot a matter of a few months - it takesmore than half a year on average toamend a law. The process is gradual, butits results will simplify communicationwith the author i t ies and reducepaperwork. For example, the number ofstatistical reports many companies areobliged to fill in and the number ofinstitutions will be reduced.

Which measure will be particularlyhelpful to Czech entrepreneurs? Areyou, for instance, still consideringtax holidays for sole traders?A principle example of the simplificationof the business environment will bea major amendment to the TradesLicensing Act. This Act has undergoneseveral dozen amendments since the early1990’s and it has more than doubled insize. This is why the changes we arepreparing will be aimed at deregulation.For example, some trades will be mergedor transferred to other categories and thepossibility to perform unregulated tradeswill be broadened. For instance, we knowthere are 138 craft categories in theCzech Republic. In comparison to Austria,where there are several dozen more, oursituation is not so bad. Sweden, however,recognises only 62 such categories, whichis, of course, inspiring. Merging certaintrades and reducing their number willmake life easier for those who want tostart a new business. They will need fewertrade licenses, which will save themmoney. Launching a business will thus nolonger involve searching a long list ofrecognised trades. Applicants will, forinstance, no longer have to contemplatewhether to register as a blacksmith ora hammer-smith.

As far as the introduction of taxholidays for sole traders is concerned,I am happy to say that it is included in theGovernment‘s Programme Declaration.However, it is clear that the Governmentwill first need to debate the issue. I will domy best to persuade my colleagues andespecially the finance minister of thebenefits of this proposal.

■ G D P G R O W T H W A SB A S E D O N D O M E S T I CD E M A N D

As in 2005, last year’s economic growthwithin the Czech Republic rested onsound ground and created no potentialproblems which could have an adverseeffect on the economic stability in thecoming years. Whereas the 2005 GDPgrowth was primarily due to increasingexports accompanied by a noticeableimprovement of the balance of trade, lastyear’s growth was based mainly ondomest ic demand, spec i f i ca l l y oninvestment fo l lowed by householdconsumption. Investment (creation ofgross fixed capital) is certainly a positivetrend, as it raises the economic potential.But we should not overestimate lastyear ’s f igures because t ransportequipment accounted for almost one halfof the increase in investment (data for thefirst three quarters of the year areavailable at this time). A decline inunemployment coupled with the rise inreal incomes was partly responsible forthe improvement in the consumer mood,which was followed by bigger inclinationto purchase and thus to consumption.A boost to this trend was the increasingindebtedness of the population, buthouseholds are still giving much biggerpreference to mortgages than toconsumer credits. However, the expectedeconomic growth of 6% was also due toforeign trade, although not as much as inthe previous year.

■ S T R E N G T H I N M A C H I N E RYA N D T R A N S P O R T E Q U I P M E N TE X P O R T SOne of the reasons for the favourableperformance in the Czech economy in

recent years was the economic recoveryof the EU countries, to which most Czechexports are heading – 84% of totalexports in the first 11 months of last yearas it had been in 2005. Statistics confirmthat exports to the common market areincreasing at a two-digit rate – expressedin CZK, it would be 14.3% and in EUR,which gives a better idea of the value ofCzech exports owing to the steadystrengthening of CZK, as much as 20.2%.Last year’s increase in exports to thecommon market was mainly due tomachinery and transport equipment, andso it is not surprising that clearly the mostsuccessful Czech export commodity onthe EU market were road vehicles – theirexport increased by one quarter in EUR.The automobile industry accounted forthe major part of the surplus in the Czechbalance of trade. In the annual cumulatedexpression, the road vehicle surplus wasCZK 187 billion and EUR 6.6 billion,respectively, in November.

■ C Z E C H G R O W T H I S A B O V ET H E E U R O A R E AWhile the Czech economic growthremained at approximately 6% last year,the economy of the EU, and especially theold member countries, has been gainingmomentum. These countries’ 2000 recordof 3.9% was still remote, but the resultwas better than had been expected (2.6%in the first three quarters of last year). Thespr ing prognos i s of the EuropeanCommission expected the EU GDP toincrease by 2.3%, and the previous onlyby 2.1%. A big surprise came in Germany– its economic growth increased from lessthan 1% in 2005 to an estimated 2.5% incontrast to the 1.7% expected in thementioned spring prognosis. The strongperformance of the German economywas very good news for Czech exporters,as some 32% of 2006 Czech exportswent to the German market, which thuscontinued to be the most importantforeign market for Czech enterprises.According to Eurostat estimates for lastyear, the Czech Republic retained its placein the group of five EU countries with thefastest growing economies. It is nosurprise that the ten countries with thehighest GDP growth include seven of thenew EU members (not counting Bulgariaand Romania, which acceded to theUnion this year).The noticeably highereconomic growth of the Czech Republicthan the overall growth of the EU, andespecially the old members, has againbrought the Czech economic standard

C Z E C H B U S I N E S S A N D T R A D E

The Czech economy hasevidently experienced anothervery favourable year. Economicgrowth remained near 6% as itwas in 2005, inflation increasedonly slightly, unemploymentdeclined, and the balance oftrade was apparently the bestsince the beginning of theindependent Czech Republic.The continued growth againnarrowed the gap in theeconomic standard between theCzech Republic and the mostdeveloped EU countries.Economic growth in 2007 isexpected to be lower andinflation slightly higher and yetit should be a favourable year.The Czech economy is doingwell, its potential is soaring, andso the only serious problem isthe long-term deficit in publicbudgets, which is delaying theintroduction of the EUR.

The Czech Economy in 2006

Economic growth (in %)

Source: Czech Statistical Office, Eurostat

Czech RepublicEU-25

E C O N O M I C P O L I C Y

nearer the EU average. We estimate thatthe per capita GDP in the Czech Republicwas approximately 76% of the EUaverage last year and only 72% two yearsago. The Czech Republic probably couldreach 80% of the average of theEuropean twenty-five in 2008. The CzechRepublic is markedly behind the mostdeveloped countries of the Union, it nowhas the seventeenth economic standard,but exceeded Portugal, the weakestmember of the euro area, in 2004.

■ B O O M S H O U L D C O N T I N U EThe Czech economy had another verysuccessful year. The rapid economicgrowth is helping its convergence in theEU and ref lect ing i t s increas ing

competitiveness on the single market.Foreign direct investments, the total valueof which exceeded EUR 55 billion at theend of last September, had a large sharein the good results. Industry, the maindrive of the Czech economy, is clearlydominated by enterprises under foreigncontrol which have a share of more than50% in the revenues of the sector. Theimportance of foreign enterprises in theCzech Republic is likely to continuegrowing due to the unflagging interest ofinvestors. This is already indicated bynewly announced investment projects inthe electrical industry (such as themanufacture of LCD monitors andtelevision sets). The growth in domesticand foreign demand and competitiveness

give the Czech economy good prospects.The economic boom will not be asexceptional as it was in the last two years(at least until production begins in theHyundai automobile works in NorthMoravia), but GDP growth between 4 and5%, fairly low inflation around 3%,declining unemployment, and a verymoderate increase in real wages can beexpected in the next two years.

Petr DufekAnalyst

Československá obchodní banka(e-mail: pdufek@csob.cz)

In 2006, the Czech Republic remained in the group of the five most rapidly growing economies in the whole EU, according to Eurostat estimates

During 1995-2004, majorchanges occurred in theparticipation of the differentsectors in investment volumesin the Czech Republic –substantial increases wererecorded especially by foreign-controlled companies. Overa relatively short period of timethese companies gained, andare still gaining, ever largershares in sales, incomes fromexports, profits of the companysector, and employment. Theirweight in the volume ofinvestment and gross fixedcapital formation in the Czecheconomy is logically growing aswell. However, two aspectsneed to be distinguished in thisdevelopment – one being thecapital expenditures of foreigncompanies connected with theiracquisitions in the CzechRepublic, and the other theinvestment expenditures properconnected with theirsubsequent operation in themarket. Investment spending isessential to acquire machinery,buildings, or other types offixed assets. An analysis of thesize of these fixed assets showsthat in 2004 foreign-controlledcompanies operating in theCzech economy spent six timesmore money on investment inthese assets than in 1995.Purchases of new fixed assetspredominate in most cases.

Foreign Investors Acquire Mainly New Tangible Assets in the Czech Republic

■ T H E E C O N O M Y G R E WFA S T E R T H A NI N V E S T M E N T I N T H E

D E C A D EIn 1995-2004, the Czech economy grewfaster nominal ly on average thaninvestment expenditures. GDP in currentprices increased by 7.4 % annually onaverage in that period, while the volume ofinvestment, defined as gross fixed capitalformation and representing an importantGDP component, rose on average only by5.3 % annually.

■ S H A R E O F C O M PA N YI N V E S T M E N T S TA G N AT I N G AT T W O T H I R D S Investment of the company sector grewa little slower in the 1995-2004 periodcompared to investment dynamics in theeconomy as a whole, but basically its sharein total investment in the economy did notchange.

In 2004, compared to 1995, theinvestment volume in the economy soaredby 58 % and amounted to CZK 729.3billion (EUR 24.5 billion). The companysector recorded a relatively less steeper rise(by 54 % to CZK 451.7 billion, or EUR 15.2bi l l ion). A more robust investmentdynamics was recorded by the governmentsector (+ 77 % to CZK 136.4 billion, orEUR 4.6 billion) and the fastest growth ofinvestment in fixed assets was that ofhouseholds (+ 94 % to CZK 123.9 billion,or EUR 4.2 billion). This was mainly theresult of heavy investment by householdsin the form of purchases of houses andflats at favourable interest rates ofmortgage loans with the aim to acquiretheir own dwellings.

Although the growth in companyinvestment was slightly slower than thegrowth in overall investment in all theeconomic sectors, the 61.9 % share of thecompany sector in the total investment inthe Czech economy in 2004 remainedalmost the same as in 1995 (or declinedslightly by1.5 p.p.)

■ M A S S I V E I N V E S T M E N T B Y F O R E I G N - C O N T R O L L E DC O M PA N I E SThe strong capital entries into the Czecheconomy from abroad in the form of directinvestment, apparent especially at the endof the 1990s, were generally reflected notonly in the transferred know-how,strategic visions of the new owners, andsubsequent restructuring of companies,but also in the volume of investment infixed assets.

Dur ing 1995-2004, investmentspending by foreign companies in theCzech economy increased approximatelysix times, as expenditures on fixed assetsformation went up from CZK 32.2. billion(EUR 1.1. billion) in 1995 to CZK 183.2billion (EUR 6.2 billion) in 2004. Thisinvestment growth (+ 463 %) issubstantially higher as compared to theincrease recorded by national private non-financial corporations (+ 52 %) andsubstantial decline on the part of the so-called public non-financial companieswhich are controlled by the state (- 60 %).

■ F O R E I G N C O M PA N I E S W E R ET H E M O S T DY N A M I CI N V E S TO R S …The annual increases in investment byforeign firms operating in the Czecheconomy were extraordinary in the 1995-2004 period – their expenditures on fixedassets rose by almost one quarter onaverage every year.

Investment by foreign-controlled non-financial companies in the Czech Republicincreased by an average annual rate of 23 % in the 1995-2004 period, a figure whichstands out especially in comparison withthe growth in the volume of investment bydomestic private companies that rose onaverage by 5.5 % annually. However, inboth cases this was a higher average ratethan the average rate of the overallinvestment made in the Czech economy(5.3 %). The cause of the lower averagerate of investment by non-financialcompanies compared to the average in thewhole economy can be found in the abovementioned fall in investment by publicnon-financial companies, which wentdown on average by 8.9 % annually.

The average 5.3 % year-on-year growthof the investment volume in the economyas a whole was the result of twoantagonistic trends. On the one hand,there were the above-mentioned lowerdynamics of investment by the sector ofnon-financial companies (+ 5.1 %), andthe average 5.4 % fall of investment byfinancial institutions every year. On theother hand, these were the distinctlyhigher average dynamics of investment inthe governmental institutions sector andthe distinctly higher dynamics of fixedassets acquired by household investment.

■ … A C Q U I R E D E S P E C I A L LYN E W A S S E T S …Companies under foreign control acquiremostly new tangible fixed assets. In 2004,investment in fixed assets by foreign-

E C O N O M I C P O L I C Y

control led companies in the CzechRepublic totalled CZK 183.2 billion, (EUR6.2 billion), and new tangible fixed assetsaccounted for CZK 179.1 billion (EUR 6billion) of this amount. These companiesspent CZK 13.8 billion (EUR 0.5 billion) onpurchases of used tangibles. New tangiblefixed assets thus make up more than 97 %of the volume of investment by foreign-controlled companies.

The acquisition of used tangible fixedassets represents less than one-tenth ofthe value of new fixed assets acquired byforeign companies in the Czech Republic,and this ratio has remained basicallyunchanged throughout the 1995-2004period. According to the OECD, somecountries import considerable volumes ofused fixed assets operable by othermanufacturers (e.g. New Zealand, Mexico,and some countries in central Europe).However, the overall predominance of newfixed assets in the annual volumes ofinvestment by companies with foreignproperty interest in the Czech economyshows that the Czech Republic does notrank among countries where foreigninvestors have made massive purchases ofused machinery and equipment for theirlocal acquisitions.

■ … A N D S I G N I F I C A N T LYI N C R E A S E D T H E S H A R E O FT H E I R I N V E S T M E N T I N C Z E C HG D P Foreign companies have been the onlysegment in the Czech economy that hassignificantly increased its share of thevolume of invested resources relative toGDP over time.

Investment to GDP ratio is an importantindicator monitored in internationalcomparisons – it is the rate of investmentin an economy which signals an expectedacceleration of future economic growth. Inthe case of the different sectors, an

adequate compar ison would berepresented by the rat io of theirinvestment to the gross value addedcreated by them – but the share of theinvested amounts and the biggestmacroeconomic aggregate showsinteresting trends as well. According tocalculations, 1995 investment of thecompany sector accounted for 20 % ofGDP, in 2004 only for 6.2 %. Financialinst i tut ions contr ibuted with theirinvestment to 1.8 % of GDP at thebeginning of the 1995-2004 period, andmerely to 0.5 % at its end. Similarly,investment by the government sectorrepresented 5.3 % of GDP in 1995, and4.9 % of GDP in 2004. The share of thehousehold sector basically stagnated(respectively 4.3 % and 4.5 % of GDP).

Compared to these figures, the sharesof foreign-controlled companies are againexceptional – while in 1995 the volume of

investment by this sector made up only 2.2 % of GDP (10 % of GDP on the part ofdomestic private-owned firms), in 2004this share of foreign companies rose to 6.6 % of GDP (8 % of GDP for domesticcompanies).

■ W E I G H T O F I N V E S TO R S I SI N C R E A S I N GThe Czech Republ ic i s a populardestination for foreign direct investors. Atthe turn of the century, up to 2002, it wasone of the economies with the highestinflow of direct investment per capita.Acquisitions in the form of equity werecombined with subsequent investment intangible fixed assets, mostly in themanufacturing industry, where investmentin machinery predominates.

Major structural changes in thecompany sector in the Czech Republic canbe observed also in the volumes ofresources invested in fixed assets. It is thisinvestment (through its multiplicationeffects) that further increases the weightthat the sector of foreign companies hasgained in the Czech economy by most keycharacteristics.

Drahomíra DubskáAnalyst

Macroeconomic Analyses Department,Czech Statistical Office

(e-mail: drahomira.dubska@czso.cz)

*Editor’s note: EUR figures converted bythe 2006 average CZK/EUR rate of 29.874

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Investment rate in the Czech economy and in the sector of foreign-controlled companies(investment volume/gross value added volume, in % of data in current prices)

investment rate in economy

investment rate in foreign-controlled companies sector

The Czech Republic is a preferred destination of foreign direct investors

Source: Czech Statistical Office

■ D E F E R R E D TA X AT I O NThe chief effect of the MergersDirective 90/434/EEC is the possibility

to defer taxation of capital gains arising frommergers or divisions of companies, transfersof assets, or exchanges of shares. The Directiveallows the restructuring of companies withinthe European Union regardless of stateborders. This can produce tax advantages thathave been impossible to date. The MergersDirective has been amended by Directive2005/19/EC, which contains provisionsconcerning the introduction of new legalforms of entities - the European Companyand the European Co-operative Society, andallows the registered offices of these newtypes of companies to be transferred withoutpossible tax disadvantages.

■ E L I M I N AT I N G D O U B L ETA X AT I O N O F P R O F I T S The Directive on the Common System ofTaxation Applicable in the Case of Companiesand Subsidiaries of Different Member States90/435/EEC (Parent-Subsidiary Directive)eliminates double taxation on profitsdistributed by an associated companyregistered in one member state to a parentcompany registered in another member state.The Directive rules that the member state ofthe parent company either exempts theprofits of the subsidiary registered in another

member state or, if it imposes tax on theseprofits, it enables the parent company tolower the tax base by the tax on profit paid bythe subsidiary in another member state.A significant amendment by Directive2003/123/EC has also brought provisionsreducing the minimum shareholdingpercentages of the parent companies for therules to apply.

Directive 2003/48/EC on Taxation ofSavings Income in the Form of InterestPayments ("Savings Directive") applies only tonatural persons. The tax aims at preventingtax avoidance by persons who have incomefrom interest payments in other memberstates. The Interest and Royalties Directive2003/49/EC introduces a common system oftaxation applicable to interest and royaltypayments between associated companies.Together with other rules on the protection ofintellectual property effective in the EuropeanCommunities, it provides new opportunitiesfor structuring intangible property.

■ E X E M P T I O N O F D I V I D E N DI N C O M E A N D I N T E R E S T S O NC R E D I T SThree of the four above-mentioned directivesof the European Communities - the MergersDirective, the Parent-Subsidiary Directive, andthe Interest and Royalties Directive - weretransposed into the Czech Act 586/1992 Coll.

The Czech Republic’s accessionto the European Union alsomeans adaptation of the Czechlegal system to the legislation ofthe European Communities. Thisprocess of transposingCommunity law includes thecommitment of gradual adoptionof the European directives. Theknowledge of at least generalinformation concerning directivesin the area of direct taxes mayhelp investors to saveconsiderably on taxes.Harmonisation of direct taxes inthe European Union is by far notso consistent as is the case ofvalue added and consumer taxes.The causes can be found aboveall in the different accountingsystems of each member stateand in the reluctance of memberstates to proceed further withharmonisation, which theyconsider as interference insovereign affairs and in internalpolicies, with the possible useespecially of corporate taxes astools of economic policies.The European Commission thuscontinues to prioritise theelimination of double taxation ofcross-border revenue flows, andin the area of direct taxesrecommends only theimplementation of measures thatare essential to ensure thefunctioning of the commonmarket. Different tax rates inEuropean Union member statesthus remain a reality, but mostlythey say little about the effective(actual) taxation (see Table).The key regulations of theEuropean Communitiesconcerning direct taxation are thus not numerous and are presented on page 10.

CHARACTERISTICS OF DIRECT TAXES IN THE EUROPEAN UNION AS OF 31ST DECEMBER 2006European Union PERSONAL INCOME TAX CORPORATE PROFITS TAXmember state

Highest rate (%) Number of tax brackets Nominal rate (%)Austria 50 4 25Belgium 50 5 33Bulgaria 15 4 24Cyprus 30 4 10Czech Republic 32 4 24Denmark 59 3 28Estonia 23 1 23Finland 32.5 5 26France 48.09 7 33.3Germany 42 4 25Greece 40 4 29Hungary 36 2 16Ireland 42 2 12.5Italy 43 4 33Latvia 25 1 15Lithuania 33 2 15Luxembourg 38 17 22Malta 35 6 35Netherlands 52 4 29.6Poland 40 3 19Portugal 42 7 25Romania 16 1 16Slovakia 19 1 19Slovenia 50 5 25Spain 45 5 35Sweden 25 3 28United Kingdom 40 3 30

Source: European Tax Handbook 2006

H O W T O D O B U S I N E S S I N T H E C Z E C H R E P U B L I C

on Income Taxes as of the CzechRepublic’s accession to the European Union.The remaining Directive on Taxation ofSavings Income in the Form of InterestPayments came into effect in the CzechRepublic on 1 July 2005.

As of 1 May 2004, the Mergers Directiveenables successor companies to carry overreserves and provisions created by a companythat is winding up, and its possible loss thathas not yet been used as a tax deductibleitem by the company winding up, as well asto carry over other items that have beendeductible from tax base by the winding-upcompany, but have not yet been deducted bythis company.

The Directive on the Common System ofTaxation of Parent Companies andSubsidiaries exempted dividend incomereceived by a parent company which is a taxresident of the Czech Republic or a resident ofanother European Union member state froma subsidiary - a resident of the Czech Republicor a resident of another member state. Czechlaw also determines the minimum share ofregistered capital decisive for companies to bedefined as parent and subsidiary. It mustamount to a minimum 10% continuously fora period of at least 12 months.

Due to the transposition of the Interestsand Royalties Taxation Directive, interests on

credits, loans, bonds, certificates of deposits,and bills of exchange have been exempt fromincome tax since May 2004 if payable toa company which is a tax resident of theCzech Republic or another European Unionmember state by a company - tax resident ofa European Union member state, based in theCzech Republic. A similar exemption ofroyalties will come into effect on 1 January2011.

The Directive on the Taxation of SavingsIncome in the Form of Interest Payments hasintroduced a new duty for entities payinginterest income to natural persons whose tax

residence is in other member states of theEuropean Union. This duty involvesmandatory notification about thesepayments. This notification shall includeidentification of the person (by name, placeof residence, and date and place of birth ortax identification number where possible),and the amount of the interest income.

Jan ŠirokýFaculty of Economics, VSB-Technical

University of Ostrava(E-mail: jan.siroky@vsb.cz)

Basic European Communities regulations in the area of direct taxation

Knowledge of regulations concerning direct taxes brings tax savings to investors and other payers

EC legislationconcerningdirect taxes

Directive 90/434/EEC

Directive 2005/19/EC

Directive 90/435/EEC

The new Act on Sickness Insurance(Act No. 187/2006 Col l . ) wasoriginally scheduled to come into

force on 1 January 2007, but waspostponed until 1 January 2008. The dutyof employers to pay wages to theiremployees for the first 14 days in whichthey are temporarily unable to work (thisduty is set out in the new Labour Code) hasbeen postponed to the same date. Certainchanges in legislation concerning theassessment basis for the payment ofcontributions to social security and generalhealth insurance have been introduced bya law accompanying the Labour Code (ActNo. 264/2006 Coll.), and several changeshave also taken place in tax law.

Another change in effect as of 1 Januaryis the amount of the minimum wage,where the basic rate for the stipulated 40working hours per week is now CZK 48.10(ca EUR 1.6) per hour or CZK 8,000 (ca EUR266.6) per month (Government RegulationNo. 567/2006 Coll.).

■ I N S O LV E N C Y A C TAs insolvency proceedings in the CzechRepublic are considered among the longestand most questionable in Europe, theadoption of new and modern bankruptcylegislation was long overdue. The new Acton Insolvency and Methods of Resolution(the Insolvency Act) is to accelerateproceedings and make them more efficientby creating a scope for a differentiatedapproach, eliminating some of the phasesof the proceedings as well as steps thatfacilitated intentional procrastination, andallows for shortened proceedings. Thelegislation still in force has a number ofdrawbacks. Liquidation procedures forresolving insolvency take precedence overrestructuring procedures. Creditors have noinfluence over the choice of procedures forresolving insolvency nor over the selectionof an insolvency estate administrator, andtheir possibi l i t ies to oversee theadministrator are l imited. The lawinsufficiently defines the relation of theadministrator to the creditors’ committee,the method of selecting the administrator isnot optimal, and the qual i f icat ionrequirements for the exercise of thisfunction need to be made stricter.

The new law replaces two differentprocedures, bankruptcy procedure andcomposit ion procedure, with oneinsolvency procedure that is differentiatedonly after the ruling on insolvency, in sucha way that there is a special procedure foreach of the methods of resolv inginsolvency. Some of the regulations are

common for all the methods. Besidesbankruptcy, the Act introduces a new basicmethod of resolving insolvency based onrestructuring - reorganisation. Newmethods also include debt discharge andminor bankruptcy. The insolvency offinancial institutions is subject to specialrules. Debtors are given a chance toovercome threatened insolvency by theprinciple of a moratorium, replacinga protective period that did not formerlyprove very practical.

The new Act extends the rights ofcreditors and amends the overall conceptof their participation in the proceedings.Creditors will have a direct influence on thechoice of the method of resolving thedebtor’s insolvency, of the person of theinsolvency administrator, and themonitor ing funct ion of creditors’committees will be enhanced. The law alsointroduces an insolvency register kept bythe Ministry of Justice, which is to inform ofinsolvency proceedings and thus ensuretheir transparency. The register will includea list of insolvency administrators, whoseposition is determined by a special Act onInsolvency Administrators (Act No.312/2006 Coll.).

■ B U I L D I N G A C T A major aim of the new Building Act is toaccelerate and simplify the approvalprocess, especially for small buildings thatmay now be constructed on the basis ofa mere notification instead of the formerplanning permission. The new legislationshould also significantly reduce thepaperwork connected with the preparationof large construction projects.

The Act drops the requirement fora standard procedure of final approval forcompleted structures being put into use,while check-ups at construction sites are tobe all the stricter and more systematic, evenafter completion. The law enables personsconducting check-ups to take operativemeasures on site. In addition, the new Actintroduces approved inspectors and givesthem certain powers of bui ldingauthorities. Besides changes in buildingpermission proceedings, the law alsointroduces a number of amendments inplanning permission and decision-making.

According to the author of the Act, theMinistry for Regional Development, thenew legislation is expected to enhancelegal certainty and facilitate decisions forinvestors on the placement of aninvestment. Only practical application willshow whether this intention wi l lmaterialise.

Several major pieces oflegislation approved last yearhave come or will come intoeffect during 2007. On 1 Januaryit was the new Labour Code (ActNo. 62/2006 Coll.) and the newBuilding Act (Act No. 83/2006Coll.) and on 1 July it should bethe Insolvency Act (Act No.182/2006 Coll.), replacing thestill valid Act on Bankruptcy andComposition, which is based ondifferent principles.It has to be noted that on 5 February 2007, theGovernment approved a billwhich postpones the effect ofthe Insolvency Act from 1 July2007 to 1 January 2008. Thereasons for the postponementinclude a delay in legislative andtechnical work for theestablishment of the insolvencyregister, which is part and parcelof the law and the reform ofbankruptcy legislation cannot belaunched without it. The billmust now undergo a standardlegislative procedure (i.e. it mustbe adopted by both chambers ofthe Czech Parliament, be signedby the president and publishedin the Collection of Laws).

The Most Important Changes in Czech Law in 2007

H O W T O D O B U S I N E S S I N T H E C Z E C H R E P U B L I C

■ L A B O U R C O D EThe new Labour Code, replacing theformer Labour Code that was in effect fromthe mid-1960’s, is to liberalise labour lawrelations. However, it neither simplifies norstreamlines the former legislation. Thoughto a limited extent, on the general level itsets out the principle of "that which is notprohibited is permitted", and at the sametime respects the principle of equaltreatment. The law also enhances thecontractual freedom of parties (e.g. byallowing the conclusion of innominatecontracts in accordance with the Civil Codein labour law relations), but at the sametime contains a number of regulations fromwhich they may not depart.

As regards employment relationships,the new law does not differentiatebetween the so-called main and subsidiaryemployment relationships. It also bringschanges concerning the probation period(the period of impediments to work is nolonger included in the probation periodeven in a limited extent). Appointment mayestablish an employment relationship onlyin the case of specified entities from thenon-business field, other employmentrelationships established by appointmentbefore 31 December 2006 areautomatically considered from 1 January2007 as established by a contract ofemployment.

The Code contains a new definition ofworking hours and stand-by work andintroduces the so-called working hoursaccount as a possible method for an

uneven distribution of working hours. Theset weekly working hours must not exceed30 hours per week for employees under 18,even in the case of several labourrelationships. Another novelty is that wagesshall not be negotiated with a view topossible overtime work. The notice periodis unified to 2 months, severance pay isincreased to three times average earnings(in case an employment relationship isterminated because an employee may notcontinue performing his/her work becauseof a work injury or occupational disease it istwelve times average earnings). The Codeabolishes the duty of an offer of anotherposition to an employee before dismissal. Italso changes the rules for contracts onwork done outside of an employmentrelationship.

■ C H A N G E S I N TA X R U L E SAn amendment to the Income Taxes Act(Act No. 586/1992 Coll.) reacts to theadoption of the new Labour Code, whichnow includes regulat ions on thereimbursement of travelling expenses. Inthe case of employees of businesses,travelling expense reimbursements up tothe limit of reimbursements set out by theLabour Code for "civil servants" are nottaxable income. For employers it is a taxdeductible expense whenever the travellingexpense reimbursement is paid inaccordance with the Labour Code. Inaddition, benefits paid by employers toemployees beside salaries under theconditions stipulated by law shall newly be

admitted as tax deductible expenses ofemployers.

An amendment to the Act on theAdministration of Taxes and Fees (Act No.337/1992 Coll.) has changed thepenalisation of taxable persons for latepayments of taxes. On an audit conductedby the tax authority, the penalty as of 1 January 2007 is set at 20 % of theadditionally assessed tax liability (or 5 % incase of tax loss decrease). At the same time,interest will always be charged on latepayments, calculated on the basis of therepo-rate declared by the Czech NationalBank and increased by 14 percentage points.

■ C H A N G E S I NC O N T R I B U T I O N S TO S O C I A LS E C U R I T Y A N D H E A LT HI N S U R A N C E A substantial change in the social securityand health insurance system is representedby the new definition of the assessmentbase of employees for both types ofcontributions, which now mirrors theincome tax base. The assessment baseincludes the taxable income of individualsthat are not exempt from tax and arecarr ied by the employer to theemployee’s account. There are only a fewexceptions to this rule.

Alena Břicháčková, LawyerDita Malíková, Tax Adviser

PETERKA & PARTNERS(e-mail:brichackova@peterkapartners.cz)

Several important legal regulations took effect in 2007

Directive 97/7/EC on theprotection of consumers inrespect of distance contracts hasbeen implemented in the Czechsystem of law in § 53-54 of theCivil Code (Act No. 40/1964 ofthe Coll.). This regulation appliesto contracts concluded by meansof distance communicationwhich, without the simultaneousphysical presence of both thesupplier and the consumer, maybe used for the conclusion ofa contract between contractualparties. Means of distancecommunication include, forexample, unaddressed printedmatter, addressed printed matter,standard letters, pressadvertising with use of orderforms, catalogues, telephonewith (human) intervention,telephone without (human)intervention (automatic callingmachines, audiotext), radio,electronic mail, facsimilemachines (fax), television(teleshopping), or publiccommunication networks, eg. theInternet. The purpose of theimplemented provisions is clear– to guarantee consumers thesame degree of information aswhen a contract is concludeddirectly in a store in the physicalpresence of both parties, whereconsumers are able to learn indetail about the properties ofpurchased goods.

Distance Contracts Subject to Special Rules ■ I N F O R M AT I O NP R O V I D E D P R I O R TO T H E C O N C L U S I O N

O F A C O N T R A C TThe consumer will be provided with thefollowing information in good time prior tothe conclusion of a contract:– information about the supplier (e.g.

business company, company registrationnumber, contact information, etc.);

– information about the competentinspect ion author i ty ( in case thesupplier's business falls under permissionregime);

– the name and main characteristics of thegoods or services;

– the price of goods or services;– delivery costs;– arrangements for payment, delivery or

performance;– information about the existence of the

right to withdraw;– the cost of using the means of distance

communication;– the period for which the offer or the

price remains valid.

Upon submitting an order by means ofdistance communication, the supplier isobliged to immediately confirm receipt ofthe order by any of the mentioned meansof distance communication. This is mostfrequently accomplished by e–mail or bymeans of a form in the case of Internetshops. Using other means (telephone,mail, etc.) is, however, also permitted. Priorto submission (sending) of an order, theconsumer shall be enabled to check andchange input data entered in the order.

■ I N F O R M AT I O N P R O V I D E DU P O N C O N C L U S I O N O F A C O N T R A C TUpon conclusion of a contract by means ofdistance communication, but prior to theperformance of the contract , theconsumer must be provided with thefollowing written information:– information about the supplier, i.e.

business name and ident i f icat ionnumber, seat in the case of a legal entity,and the home address in the case ofnatural persons;

– information on the conditions andprocedures for exercising the right ofwithdrawal from a contract;

– information on after-sales services andguarantees;

– the conditions for cancellation ofa contract, if the duration is unspecifiedor it exceeds one year.Fai lure to provide the specif ied

information will result in penalisation bythe law - an extension of the period forcontract withdrawal.

■ W I T H D R A W A L F R O MC O N T R A C T The consumer has the right to withdrawfrom a contract concluded by means ofdistance communication within 14 days ofperformance. Where information requiredby law has not been provided, the periodfor withdrawal is extended to threemonths from the time of performance. Ifthe required information is supplied withinthis three-month period, the 14-day periodshall begin to run from that moment. Thelaw explicitly states that the consumer hasthe right to withdraw from a contractwithout penalty and without giving anyreason for withdrawal. The only chargethat the consumer may be asked to settleif the right of withdrawal is exercised is thedirect cost of returning the goods. Thisusually means that the consumer returnsthe goods at his/her own costs. Thesupplier is obliged to reimburse theamount paid by the consumer within 30days of withdrawal from the contract.

The law states that the consumer may notexercise the right of withdrawal in the caseof contracts concluded by means ofdistance communication:– for the supply of goods or services the

price of which depends on fluctuationson the financial market beyond thecontrol of the supplier;

– for the supply of goods made to theconsumer's specifications or clearlypersonalised or which, by reason of theirnature, cannot be returned or are likelyto deteriorate or expire quickly;

– for the supply of audio or videorecordings or computer software, if theconsumer has broken the originalpackaging;

– for the supply of newspapers,periodicals, and magazines;

– for gaming and lottery services.

Jana LuhanováConsumers Defence Association (SOS)

www.spotrebitele.info

■ H U N G A RY – A C C O M P L I S H M E N T I N C O M P E T I T I O N

Sapeli took its first steps on the Hungarianmarket by individual supplies in 2002. Thereal start came in March 2005, whenSapeli presented its products to Hungarianbuilders and dealers under the aegis ofCzechTrade at the Czech Embassy inBudapest. The company focused its exportpolicy on the Hungarian market in 2006.Radim Vyskočil, who is responsible forexports to Slovakia and Hungary, says:"We wanted to give maximum support toour trade in Hungary, where thecompetition is huge. There is no dominantHungarian producer of doors who wouldregulate the market, and imports comealmost from all Europe. Manufacturersfrom Slovenia, Austria, Germany, Poland,Slovakia and, of course, the CzechRepublic are represented in Hungary." Inaddition to marketing, advertising andSapeli presentation at fairs and exhibitions,support is given to logistics of thetransport of goods to places which aredistant more than 500 km. A contract ongeneral representation has been concludedwith the Budapest-based companyWESTDOOR, which has a network of fortybranches throughout Hungary. Thisbrought orders, inc luding state-guaranteed ones. One of the latter was thesupply of 950 non-half-slot anti-fire doorsto the cardiovascular clinic in Debrecen.Full non-half-slot doors passed as fireproofin a test conducted by the Hungarian statetesting laboratory last autumn. Glassed-inanti-fire walls are to be tested in 2007."Last but not least, we are preparing toover lay wooden door frames in

prefabricated houses in Hungary this year.I t i s a hard nut to crack by ourdevelopment department, but I trust thatour designers will cope with it", RadimVyskočil added.

■ P O L A N D – C O M P L I C AT E DM A R K E T Sapeli became involved on the Polishmarket in 1998 by its first presentation atthe BUDMA 98 fair in Poznan. Since then,presentations of Sapeli doors and doorframes have been regular with a pause in2005, when Sapeli changed its policy ofexports to Poland. "The Polish market isvery complicated due to the incrediblylarge compet i t ion of local smal lmanufacturers of doors, both veneer-coated and the cheaper foil-coatedproducts", according to František Blažek,who is responsible for Sapeli exports toPoland and Germany. In order to meet therequirements of Polish clients, a specialmodel of the "Komfort" glassed doors hasbeen made since the middle of 2006.Sapeli’s main trade partner is the DUBREX

Sapeli Operates on Foreign Markets

C Z E C H T O P

Sapeli ranks among the importantCzech exporters of veneer-coated doors and doorframes. Its foreign trade policy isfocused on Slovakia, Hungary,Poland, and newly also onGermany.Slovakia has been the primaryrecipient of Sapeli exports since1994. Their marked increase camein the last three years, duringwhich Sapeli built a very strongposition on the Slovak market andsales were rising by dozens of percent annually. Sapeli’s generalrepresentative on the Slovakmarket is Don Interiér Servis, s.r.o.,which offers doors and doorframes in its thirty sample roomsand forty partner shopsthroughout Slovakia. A new Sapelisample room, which displaysdoors and door frames on an areaof 250 sq. m, was opened inBratislava in September 2006. Themost interesting destinations ofSapeli products included VÚBBratislava, the hotels Holiday InnBratislava and Hubert VysokéTatry, Coca Cola Bratislava centreand many housing estates, suchas Koprivnica Bratislava.

Sapeli is a prominent supplier of interior doorsand door frames

��

Starting in 1990, the company beganto focus on biomass processingtechnologies and subsequently

turned to production of machines forbriquetting and pelleting of wood andvegetable waste used for creating biomass.Later it also started to sell the fuels.

Today it offers wood briquettes fromsoft and hard wood, pellets (granules frompressed wood), and fire-lighter and fuelwood. The briquettes are made of chaff,sorrel, and straw. Almost all of theproduction is intended for export with themain markets being Austria, Germany,Italy, France, and Denmark. "We havesucceeded in direct sales, with nointermediaries", notes the owner Zdeněk

Černý. The company's wood briquettes,pellets, and fire-lighter wood can be hadfrom, for example, Austrian Interspar andBilla chains, or the German OBI. Thesuccess of the small company has alsobeen acknowledged by the CzechTradeagency; the Uničov company took the firstplace in the DHL Export Award, categoryThe Most Successful CzechTrade Client(twofold year-on-year increase in export).

More at www.biomac.cz

Biomass is becoming cheaperthan gas or furnace oil –especially considering thattraditional fuels will be moreexpensive as their sources runlow. BIOMAC Ing. Černý, s.r.o. isone of the highly regarded Czechproducers of biomass. It hasalready established 24 plants forbiomass production using its owntechnology (www.biopaliva.cz).

Success of Biomass

The company ranks among thelargest producers of this equipmentin the Czech Republic. It has two

branches abroad - MERKO SK s.r.o.and MERKO-Polska Sp. z o.o (in Slovakiaand Poland), and official representation inBulgaria. MERKO CZ has been closely co-operating with the CzechTrade office inCroatia for several years and as a result ofthis, has realised a large order in thatcountry. Negotiations are now being held

with potential clients in Serbia andMacedonia. The 2007 the objective of thecompany is to build up a base for theBalkan market. The 2006 successes includean order in Russia where MERKO CZ putinto operation a concrete mixing plant andequipment for the recycling of concreteresidues.

More at www.merko.cz

MERKO CZ a.s. is a joint-stockcompany engaged in theconstruction of plants and theproduction of technologies forthe manufacture of concrete andmixtures thereof.

Merko CZ is Focused on the Balkan Market

company based in Gliwice. Connectionwith the LEROYMERLIN chain, whichoperates twenty markets in Poland, isintended in 2007.

■ G E R M A N Y – T H E YO U N G E S TR E C I P I E N TSapeli entered the German market in 2005through ICC – Czech Export Centre underthe aegis of CzechTrade. Sapeli doors anddoor frames were presented during CzechExport Days at the Franz Joseph Strauss –München Airport Centre. František Blažek

said that "Interest in our doors and doorframes was shown at this presentation byBayWa, one of the most importantcompanies in Germany, which operatessome 180 building material shop".Compl icated ta lks on poss ib le co-operation were conducted with BayWathroughout last year. The negotiationswere mediated by the ICC. The mainobjective of the talks was to meet therequirements of BayWa which soughta suitable supplier of a new series ofinterior doors. "The most important

German manufacturers competed for theposition, but our company offered termsand products which BayWa assessed asbest and the contract was concluded",František Blažek added. In the next threeyears, Sapeli will supply interior doors anddoor frames for almost EUR 6 million.

More at www.sapeli.cz

R E G I O N

NUTS 3 – Liberec Region

The Region is mostly mountainous. Theterritory comprises the north of theBohemian Basin, the J izerské horyMountains, the west of the Krkonoše(Giant Mountains) with the foothills, andthe eastern part of the Lužické horyMountains. The highest point of theRegion is Kotel, 1 435 m high, nearHarrachov in the Semily District, the lowestpoint is 208 metres above sea level in theLiberec District, at the place where theSmědá River leaves the territory of theCzech Republic. The best-known mountainis Ještěd, at 1 012 metres, it is the highestpoint of the Ještěd Ridge (www.jested.liberec.cz). Waters from the Region aredrained into three rivers. The west is thecatchment area of the Ploučnice, the eastof the Region is drained by the upper Labe,and the north forms the catchment basinof the Odra (Nisa) Rivers. The Region alsohas sources of mineral waters andmedicinal peat.

■ E C O N O M I CC H A R A C T E R I S T I C SThe Liberec Region forms only 4.0 % ofthe Czech Republic’s territory and, if theCapital City of Prague is exempted, its 3 163 sq. km make it the smallest region ofthe country. Farmland covers 44.5 % ofthe Region’s area, and the share of arableland (22 %) is considerably below thenational average. On the other hand,a high proportion of the Region’s territoryis formed by forest land (44.2 %).

The predominant raw materials in theRegion are quality sands for glassmakingand foundries. In the past, the Region wasan important area for stone mining andworking for decorative and buildingpurposes. The Liberec Region is mostly anindustrial area. The branches that havedeveloped here are glassmaking andfashion jewellery manufacture, plasticsproduction and processing, engineeringand manufacturing sectors closely linkedwith car production. The traditional textileindustry has lost its former dominant

position due to a slump in recent years. In agriculture, which has basical lya complementary role, the main crops aregrains and feeds related to cattle farming.After 1990, the new market conditionshave brought about great development insmall and medium-sized businesses,especial ly those connected withmanufacturing for the automotive industry,the construction industry and services. Theeffect of the inflow of foreign companies,which have built on the tradition andqualified labour force of the Region,became apparent mostly in the second halfof the 1990’s. A stronger position has beengained in recent years by the trade and

transport sectors, and a major role in theRegion’s economy is played by tourism. TheRegion has accounted for 12.2 % of overallrevenues from tourism, for 4.6 % ofrevenues from the Czech Republic’sindustrial activities, and for 2.7 % ofbuilding works. In 2005, the gross domesticproduct per inhabitant recorded 80 % ofthe average level of the gross domesticproduct per inhabitant of the CzechRepublic. Categories making the highestcontr ibution to Czech exports aremachinery and transport equipment (48%),manufactured goods classified chiefly bymaterial (29.8%), and miscellaneousmanufactured articles (15.7%).

■ T R A N S P O R TThe development of business activitygreatly depends on access to transport

T E R R I TO R I A L D I V I S I O N ,L O C AT I O N , P O P U L AT I O NThe Liberec Region is situated inthe north of the Czech Republicand its northern fringe forms 20 km of the Czech state borderwith the Federal Republic ofGermany and then continueswith 130 km of the Czech-Polishborder. The Liberec Region,together with the Hradec Královéand Pardubice Regions, constitutethe NUTS 2 - North-Eastterritorial statistical unit. TheRegion includes the territories of four districts: Liberec, Jablonecnad Nisou, Česká Lípa, andSemily, which are further dividedinto 215 municipalities, 38 ofwhich have the status of towns.78% of the Region’s inhabitantslive in the towns. The chief centreof the Region is the town ofLiberec (www.liberec.cz) with101 000 inhabitants, the secondlargest town is Jablonec nadNisou (www.mestojablonec.cz)with 46 000 inhabitants.

Krajský úřad Libereckého kraje(Regional Office of the Liberec Region)U Jezu 642/2a461 80 Liberec 2Czech Republicphone: +420 485 226 111fax: +420 485 226 330e-mail: podatelna@kraj-lbc.czwww.kraj-lbc.cz

Turistické a informační centrumBabylon(Babylon Tourist and Information Centre)Nitranská 1460 12 Liberecphone: +420 485 249 202,212fax:+420 485 249 946e-mail:touristservice@centrumbabylon.czwww.centrumbabylon.cz

Liberec

âeská Lípa

Semily

Jablonec n. Nisou

Employment by sectors (in %)

Industry 44%Other 24%

Trade 10%

Farming andforestry 2%

Services9%

Construction11%

Source: Czech Statistical Office

facilities. The Liberec Region has railwaylines in a total length of 543 km and itsrailway transport density exceeds thenational average almost by half. TheLiberec Region is situated in a sectorbetween two motorways, the D8 Prague -Ústí nad Labem - Dresden, and the D11Prague - Hradec Králové - Lubowka -Legnica. Its transport artery includes thehigh-speed road from Prague, whichprovides a quality connection of theRegion with the heart of the country.Another route in the north-south directionis the I/9 road Svor - Česká Lípa - Mělník,and in the west-east direction the I/13, 35roads Děčín - Nový Bor - Hrádek nad Nisou- Liberec - Turnov - Hradec Králové.

■ E D U C AT I O N , C U LT U R E ,TO U R I S MThe Region has a qualified labour force,thanks to the existence of a number ofspecialised technical and vocationalschools and training facilities. The mostimportant of them is the TechnicalUniversity of Liberec with the faculties ofMechanical Engineer ing, Text i leEngineering, Economics, Education,Architecture and Mechatronics (www.tul.cz). About 700 students graduate fromthe University every year.

The Liberec Region has a rich culturaland historical tradition, which is reflected ina large number of architectural andhistorical monuments and cultural facilities.Prominent cultural institutions include theF.X.Šalda Theatre with its Small Theatrestage, the Naive Theatre in Liberec, and theZoological and Botanical Gardens in Liberec(www.botanickazahradaliberec.cz).

Geographic diversity also makes theLiberec Region very attractive for tourism.Thousands of tourists arrive every year toenjoy the opportunities it offers for hiking,cycle tourism, and winter sports. TheRegion includes five protected landscapeareas (České středohoří Highlands, Jizerskéhory and Lužické hory Mountains, and theČeský ráj (Bohemian Paradise) and Kokořínareas), as well as 43 natural reserves and68 nature monuments, 7 and 8 of themrespectively of the national level category.There are two spa towns (Lázně Libverda,Lázně Kundratice), which treat diseases ofthe locomotive apparatus, heart, bloodcirculation, and rheumatism (www.laznelibverda.cz, www.laznekundratice.cz). Many visitors come to see theRegion’s sites of historical value, whichinclude its castles and chateaux (Bezděz,Zákupy, Lemberk, Frýdlant, Sychrov, HrubýRohozec, Valdštejn). The country is

studded with numerous lakes and ponds,the best known being the Mácha Lake(www.machovojezero.cz). Visitors canchoose from a total of more than 50 000beds in various categories of accommod-ation. In addit ion, there is a highconcentration of individual recreationalhomes and facilities (cottages, holiday

houses), especially in the Districts of ČeskáLípa and Semily (www.liberecky-krajcz/cz/turist_service). Tourism is developingalso thanks to road and railway bordercrossings, and many pedestrian bordercrossings operated within the frameworkof local border traffic rules (www.mvcr.cz/doprava/prechody/nemeck.html ).

B R I E F C H A R A C T E R I S T I C S O F T H E R E G I O NNUTS Area (sq. km) Population Municipalities Population density

(persons/sq. km)NUTS 4 – Liberec 925 160 790 57 174NUTS 4 – Jablonec nad Nisou 402 88 639 34 220NUTS 4 – Česká Lípa 1 137 106 266 59 93NUTS 4 – Semily 699 74 590 65 107NUTS 3 – Liberec Region 3 163 430 285 215 136NUTS 1 – Czech Republic 78 867 10 280 968 6 248 130Source: Czech Statistical Office, 3rd quarter 2006 data

0 2001

521467

559499 536

575587602 641 655

2002 2003 2004 2005 2001 2002 2003 2004 2005

8.689.48

9.81 10.31 9.478.88

EUR exchange rate as of 31 December 2005 (29 CZK).

Average gross monthly wages 2001–2005 (EUR)Liberec Region CR

Unemployment rate 2001–2005 (%)Liberec Region CR

VA C A N T A R E A S F O R I N V E S T O R SName District Area ha/sq.m ContactCvikov Česká Lípa 11/110000 cerovsky@cvikov.cz

Dubá Česká Lípa 17/170000 Zdeňka Šepsová,

phone: +420 487 870 201

Frýdlant v Čechách, Industrial zone I. Liberec 67/670000 mesto@mu-frydlant.cz

Frýdlant v Čechách, Industrial zone II. Liberec 25/250000 mesto@mu-frydlant.cz

Hodkovice n. Mohelkou, Pod nádražím Liberec 2.4/24000 hodkovice@volny.cz

Hodkovice n. Mohelkou, Za Horkou Liberec 12.3/123000 hodkovice@volny.cz

Hrádek n. Nisou Liberec 25/250000 starosta@muhradek.cz

Jilemnice – Hrabačov Semily 9.9/99000 starosta@mesto.jilemnice.cz

Jilemnice – Javorek Semily 6.5/65000 starosta@mesto.jilemnice.cz

Jilemnice – Industrial zone Semily 7.4/74000 starosta@mesto.jilemnice.cz

Liberec – Růžodol Liberec 65/650000 leohodan@volny.cz

Mimoň, Industrial zone I. Česká Lípa 33.5/335000 kaiser@mestomimon.cz

Mimoň, Industrial zone II. Česká Lípa 21/210000 kaiser@mestomimon.cz

Nový Bor Za Crystalexem Česká Lípa 21/210000 starosta@novy-bor.cz

Okrouhlá Česká Lípa 26/260000 ou_okrouhla@raz-dva.cz

Stráž pod Ralskem - Industrial zone Česká Lípa 29.2/292000 iias@iias.cz

Turnov – Vesecko Semily 5.4/54000 p.kanclir@mu.turnov.cz

Available in all vacant areas: electricity, sewerage, water, gas, communications

The Liberec Region – An Attractive European Region

Due to its strategic location,the Liberec Region has alwaysplayed an important role ina European context. Importanttrading routes from thenorthern parts of Europe toinland have led through thisregion since ancient times. Tothe north, the Region bordersPoland and the Federal Republicof Germany. Thanks to theVelvet Revolution of 1989, ithas been given an entirely newEuropean dimension. With thereturn of democracy to theCzech lands, a whole new formof cross-border cooperationbegan to develop. It is nota coincidence that the firstEuroregion was established inour Region, as the NisaEuroregion, associatingmunicipalities from the CzechRepublic, Poland, and Germanydates back to 1991.There was thus cross-bordercooperation in our region longbefore the country joined the EU.

R E G I O N

I believe the Liberec Region has provenitself an able partner even before ouradmission to the EU. Not only because ofthe utilisation of pre-accession funds,but also because of its working cross-border cooperation. Today it is presentedas a dynamically developing region witha beautiful countryside and numerouscultural landmarks. From a regionaldevelopment viewpoint, there are manyemployment opportunities, industrialzones for new investors, and possibilitiesfor research and development activities.I t a l so o ffe r s a broad range o feducational possibilities – from grammarschools to the Technical University ofLiberec. With so many art schools, wehold a European, if not world, record.

With the accession of the CzechRepublic to the European Union, a newpath has been opened for the LiberecRegion leading to a united Europe.I would like to point out that wepresented our Region in Brussels as earlyas Apr i l 2004, so that we cou ldintroduce i t to EU representat ives(officials of the European Commission,the European Par l iament, and theCommittee of Regions). A very importantstep was taken in September 2005,when the Liberec Region decided toestablish a representation in Brussels tobe able to gather and utilise informationdirectly at the centre of European affairs.We thus became one of the first regionsin the Czech Republic that realised theneed for active participation in Brusselsas an effort to best utilise Europeanpolicies. The Region's representationcooperates with other European regionsto influence some of the EU's regionalpolicies to its advantage.

Attention is part icular ly paid topreparation of EU regional policies forthe next seven-year financial term,during which the Czech regions will beentitled to the greatest amount ofsubsidies to date. I am very glad we havemanaged to see through the existence ofdecent ra l i sed reg iona l opera t ionprogrammes. In practice this means thatthe disbursement of funds from theseprogrammes will be decided directly inthe regions. I also consider the fact thatthese programmes will be administeredin the regions and that we succeeded inincreasing programme allocations a step

in the right direction. At this point(February 2007), the negotiations withthe European Commission are beginngand our representa t ion p lays animpor tant par t . We a l so use ourrepresentation to try to influence thefuture of cross-border cooperat ionprogrammes in favour of municipalitiesand other applicants.

Our representation's list of importanttasks also includes the monitoring ofcurrent "Brussels" appeals for thedisbursement of monies from the soca l l ed communi ty p rogrammes(managed directly by Brussels). In respectof the fact that there are over 300regional representations in Brussels, ourpresence provides great opportunities forthe exchange of experience. We have,for example, arranged cooperation withScottish schools. The Liberec Region hasalso become an active participant in thenetwork of Innovating Regions in Europe(IRE) which yields valuable informationfor the creation of our own innovationstrategy. We are also active participantsin Open Days. In Brussels, we have closeties to our partner regions of Saxony andLower Silesia with which we organisejoint presentations.

During the past few months, ourBrussels representation has activelyparticipated in the preparations for theCzech presidency of the EuropeanCouncil for the first half of 2009. Wehave already identified meetings of theCouncil, its committees, and workinggroups which we would like to takeplace in the Liberec Region so that it canpresent itself to member states evenmore comprehensively.

Thanks in part to its representation,the Liberec Region is perceived as anactive European region which is open tocooperation.

Petr Skokan President of the Liberec Region

A special task for the Chamber Unionis the improvement of infrastructure inthis cross-border area. For this

purpose, the Doprava (Transport) WorkGroup have elaborated a catalogue ofdemands, which now also plays a role in thenegotiations with ministries. As its titleimplies, its main focus is the Labe River as animportant transportation route.

The Labe/Odra Chamber Union naturallysupports the interests of entrepreneurs aswell, especially small and medium-sizedbusinesses. In 2005, with the help of thePRINCE programme, it realised the EuropeanChambers Campaigning Europe(ECCE@KEO) informational project, whichwas aimed at businesses in the threecountries and supported their cross-borderactivities. During the project, there wasdirect contact with over 600 000 companieslocated as far and wide as Prague, Hamburg,Poznan, and Magdeburg. An internet

presentation in three languages served asa communication platform for al lparticipants. The programme was successfulbeyond expectations, as over 2000companies participated in it, of which over90 % were small or medium-sizedentrepreneurs. We do not avoid other issuessuch as the question of the free movementof services and labour, which plays animportant role especially in European borderregions. That is why Czech and Polishchambers openly support our efforts fora fast arrangement of this mobility. For theircross-border cooperation, companies in ourregion need clear perspectives and certaintyfor planning ahead.

Jaroslav KoptaPresident of the Labe/Odra Chamber Union

www.uniekomor.czwww.khkliberec.cz

The Labe/Odra Chamber Union isa cross-border alliance of 29German, Czech, and Polish tradeand economy chambers; it willcelebrate six years of existence in2007.The main function of theChamber Union is to representthe common economic interestsof companies from the Labe andOdra regions.

Support for Company Cross-Border Cooperation

Besides, there are successful developmentand innovation workplaces in the CzechRepublic which can offer new ideas andwhich have experience with integrating intoEuropean programmes and grants (forexample the Textile Faculty at the TechnicalUniversity of Liberec). That is the reason whyin 2006 a cooperation group was founded.Clutex – a cluster of technical textiles, is anassociation of 17 founding companies whohave decided on cooperation in four mainareas: marketing and promotion, education– developement of human resources,development and innovation, andinformation support of the cluster activities.

■ G L A S S C L U S T E RThe members of CGC – Czech Glass Clusterhave decided to preserve the Czech glasstradition. This cooperative of sevenmembers started its activities in October2006 in cooperation with the TechnicalUniversity of Liberec, University of J.E.Purkyně in Ústí nad Labem, and manysecondary schools of applied arts. Thepriority activities of the cluster include thepresentation of products of CGC membersat world fairs and other marketing supportalso organised in the Liberec Region. Themembers of the cluster are convinced that

entering foreign markets is easier, cheaper,and ultimately more successful with a stronggroup than for an individual small andmedium-sized companies. This fact is closelyrelated to CGC’s membership in the Czech-Arabic Chamber of Commerce, whose aim isthe support and development of businessrelations between the Czech Republic andArabic countries, while creating a basis fornew business opportunities. Negotiations inLiberec with the organisers of the WorldNordic Skiing Championship in 2009 havebeen established regarding thecluster’s participation in the design andawarding of prizes at the organised events.One of the cluster’s other aims is toparticipate in scientific research activities,both in the effective use of energy in glassproduction, design or other fields of whichthere are many in the glass industry. Aninnovative approach is the most importantweapon against the ever growingcompetition of cheap products, especiallyfrom Asia.

More at: www.clutex.cz, www.glasscluster.cz

The Cluster Programme,announced as a part of theIndustry and Business OperationalProgramme for the years 2004-2006, have started to prepare andrealise an enquiry regardingcompanies’ readiness to meettheir potential in areas whichwould help them retain theiridentity, while sharing some oftheir activities with others.

C L U S T E R O F T E C H N I C A LT E X T I L E SThe choice of the field of technicaltextiles as a main focus seemedobvious even on the basis ofobjective future prognosis.Production and consumption oftechnical textiles not only in theworld, but also in the CzechRepublic, is constantly growingand it will continue to grow byapproximately 5 % per year.

Cluster Initiatives in the Liberec Region

"We chose the Czech Republic, or moreprecisely the town of Liberec, primarilybecause of its outstanding infrastructure.It is located near our Saxon productionplant in Neukirch, where machine toolautomation systems are manufactured.The Liberec plant will supply Neukirch.Besides, the proximity of the TechnicalUn ivers i t y o f L iberec a l so offe r sadvantages when it comes to hiringqualified employees in the future," saysIngo Schnaitmann, Trumpf’s Press andPublic Relations Director, adding: "TheCzech Repub l i c i s a t rad i t iona l l yimportant market for the TRUMPF Group– a fact supported by the 15-year historyof our Prague subsidiary."

With sales totaling 1.4 billion EUR forthe fiscal year of 2004/05 and more than 6500 employees, the TRUMPF Group ranksamong the leading manufactur ingcompanies worldwide. The following fourbusiness divisions are combined under the

umbrella of the controlling company:Machine Tools , Laser Technology,Electronics and Medical Technology, andPower Tools. The core of its business lies inf lexible sheet metal processing forpunching and forming, laser processing,and bending. The company is a leader inthe field of industrial lasers and lasersystems. With 45 subsidiaries and branchoffices, the Group is represented in almostevery European country, in North andSouth America, as well as in Asia.Production locations can be found inGermany, France, Austria, Switzerland,China, Taiwan, and the USA.

More at: www.trumpf.com

World Manufacturer of Production Technology to Invest in Liberec Industrial Zone

R E G I O N

There are well equipped laboratories as wellas high-quality teams of scientists working inhumanities. The significance of TUL exceedsnot only the Liberec Region, but the CzechRepublic, too. It has been activelyparticipating in the joint EuropeanEducational Area and the EuropeanScientific Innovation Area.

■ C O O P E R AT I O N W I T H C Z E C HA N D F O R E I G N C O M PA N I E SThe Univers i ty provides accreditedbachelor, master, and post-graduate studyprogrammes. Study programmes are to anextent prepared in cooperation withtechnical and economic practice and onthe basis of the needs in the field ofscience and research. That is one of thereasons why the number of applicants whowant to study at the Technical University ofLiberec is always growing. TUL utilises itsknowledge of the needs of the CzechRepublic as well as the border regions. Incooperation with companies, scientists andstudents deal with specific scientificassignments. Companies assign the themeof diploma theses, offer scholarships, whileCzech and foreign companies literally do

their utmost in offering jobs to TULgraduates. Most graduates can choosefrom several job offers with the

University’s Significance Exceeds Both the Regional and National Borders

The Germany-based TRUMPFGroup, Europe's largest machinetools manufacturer and a leadingworld producer of industriallasers, is to invest CZK 446million (approx. EUR 14 million)and create about 80 new jobs inthe process. The company isgoing to set up production in theCzech Republic within two yearsand is building a new factory inDoubí u Liberce. TRUMPF Groupintends to manufacture a newproduct line, which will completethe company’s product portfolioof machine tool automationcomponents.

The discovery of the technology of nanotextile in-dustrial production, which is unique worldwide, ranksamong the greatest successes

The Technical University ofLiberec (TUL) is a medium-sizeddynamic university combiningtechnical education with a formof university education. Its sixfaculties (MechanicalEngineering, Textile Engineering,Economics, Education,Architecture and Mechatronics,and Interdisciplinary Studies)and its Institute of MedicalStudies provide their studentswith a wide spectrum ofeducation in exact scientificdisciplines as well as inhumanities.

opportunity of further professionalgrowth.

■ W O R L D P R I M A C YThe Technical University of Liberec hassignificant results in the field of scienceand research. One of i ts greatestachievements is certainly the uniquediscovery of the technology for industrialproduction of nanotextiles. TUL has alsobeen successful in the field of ScientificCentres in the National Programme for

Research of the Ministry of Education,Youth, and Sports. It is currently realisingthe Advanced Remedial TechnologiesScientific Centre and the Textile II ResearchCentre. Scientists from Liberec Universityare also members of teams in otherresearch centres through other institutions.In 2006, the sixth European Nanodiamcentre was opened at TUL as a part of theExcellence Centre. It works in the field ofnanomaterials, mainly the application ofthin carbon layers. TUL cooperates with

the Czech Academy of Science as well aswith prestigious universities and scientificinstitutions around the world, wherestudents are also members of scientificteams. Students can also spend a part oftheir studies abroad.

More information: www.tul.cz

The sophisticated andreliable products bearwitness to the success-ful work of 300employees. Moreover,the ingenuity of 40 designers (CAD/CAM Unigraphic) gua-rantees a uniquetechnical solution andunique features ofevery product.

■ N E WM A R K E T I N GS T R AT E G YThe marketing strategyof Sklostroj changed12 years ago, when itsmain goal became notjust to produce and sellmachinery, which is theheart of the containerglass production, butalso to providecomplete services inconnection with theconstruct ion or modernisat ion ofglassworks for container glass, includingall the necessary or supplementaryequipment, staff training, repairs, technicalassistance, complete factory constructionand of course, the taking over of theresponsibility for all these activities. Thecompany’s turnover in 2006 was over EUR75 million, which confirmed the growingtendency of recent years. 95 % ofSklostroj’s turnover comes from its export

to many countries of the world, forexample to Russia, the Ukraine, Germany,China, Poland, Italy, and the USA andother countries.

More information: www.sklostroj.cz

Sklostroj Turnov CZ is anengineering company,specialising primarily in glassworks, glass lines,machines, glass moulds, and thetechnology for the production of container glass.Having been established in 1950,it has a long tradition in its fieldof production. A new phase of itshistory began in 1994, when theownership of the company wastransferred to the presentowners and it is necessary to mention that the company is 100 % Czech owned. The currentmanagement system is certifiedaccording to the ISO 9001-2000standard, whereby the quality of production and of customerservices is assured.

The Long Tradition of Sklostroj Turnov CZ

Glass line produced by the company Sklostroj Turnov CZ

R E G I O N

Liberec District

The Liberec District is one of the mostnorthern districts in the Czech Republic. Itsterritory has a considerably brokenmorphology – the central part is made upof the Jizerské hory Mountains, which isa protected landscape area of 355 sq. km.It inc ludes some unique preservedecosystems that form independent naturalpreserves (www.jizerky.cz). In the westthere are the Lužické hory Mountains(www.luzicke-hory.cz) with their dominantpeak at Ještěd (1012 m), which isconnected with the city of Liberec bya cableway. In the District's northern area,there is the Frýdlantská pahorkatina Hills,whereas the south belongs to theČeskodubská pahorkatina Hills. The town

Městský úřad Liberec(Liberec Municipal Office)Nám. Dr. E. Beneše 1460 59 Liberec 1Czech RepublicPhone: +420 485 243 111 Fax: +420 485 243 113 e-mail: podatelna@magistrat.liberec.cz www.liberec.cz

B R I E F S TAT I S T I C SIndicator District RegionArea (sq. km) 925 3 163

Population 160 790 430 285

Inhabitants / sq. km 174 136

Source: Czech Statistical Office (as of 3rdquarter of 2006)

FOREIGN INVESTORSInvestor Country of origin Czech partner Sector ContactDenso Corporation Japan Denso Manufacturing Czech, s.r.o. automotive industry www.denso.cz

Tarmac International Holding United Kingdom Tarmac Severokámen, a.s. stone production and www.tarmac.cz

processing

Knorr-Bremse Germany Knorr Autobrzdy, s.r.o. automotive parts www.knorr-bremse.cz

Meritor LVS USA Arvin Meritor LVS Liberec, a. s. automotive industry www.arvinmeritor.com

Benteler Automotive

International GmbH Germany Benteler ČR, k.s. automotive industry www.benteler.cz

CiS Electronic GmbH Germany CiS Systems, s.r.o. electrical and electronic www.cis-electronic.de

components

Damino Gmbh Germany Damino CZ, s.r.o. textile industry www.damino.de

Grupo Antolin Spain Grupo Antolin Bohemia, a.s. automotive industry www.grupoantolin.es

Steinel Elektronik GmbH & Co. KG Germany Steinel Elektronik, k.s. electronics www.steinel.cz

F.S.Fehrer International Germany Fehrer Bohemia, s.r.o. automotive industry www.fehrer.de

Holding, GmbH

Shimizu Industry Co.,Ltd. Japan Liplastec, s.r.o. plastics processing www.liplastec.com

TRW Automotive USA Lucas Varity, s.r.o. automotive parts www.lucas.cz

Laird Technologies United Kingdom Laird Technologies, s.r.o. electronics www.lairdtech.com

Trumf Group Germany Trumf Liberec, s.r.o. engineering www.trumpf.com

S E L E C T E D F I R M SName Based in Sector ContactHPQ-Plast, s.r.o. Český Dub plastics processing www.hpqplast.cz

Lites, a.s. Liberec electrical industry www.lites.cz

Ferex ŽSO, s.r.o. Liberec metallurgy www.ferex-zso.cz

Syner, s.r.o. Liberec building industry www.syner.cz

Vulkan, a.s. Hrádek rubber industry www.vulkan.cz

nad Nisou

CZ Sklopan Liberec, a.s. Liberec engineering www.sklopan.cz

Bohemia Crystalex

Trading, a.s. Liberec glass industry www.bct.cz

Intex, a.s. Liberec carpet manufacture www.intex.cz

Interlana, s.r.o. Liberec textile industry www.interlana.cz

Lenam, s.r.o. Liberec development laboratory www.lenam.cz

for automotive industry

MSV Systems, s.r.o. Liberec mechanical constructions www.msv-systems.cz

Omar AS, s.r.o. Liberec machines for textile industry www.omar.cz

Liberec

of Liberec (www.liberec.cz) lies in a foldbetween the Jizerské hory Mountains andthe Ještědský hřeben Ridge. It is theregion's economic, educational, andcultural centre. Its position is strengthenedby the nearby town of Jablonec nad Nisou.

Liberec – Town Hall building

Informační centrum(Information centre)Nám. Dr. E. Beneše 1460 59 Liberec 1Czech RepublicPhone: + 420 485 101 709Fax: + 420 485 243 589e-mail: mic@infolbc.czwww.infolbc.cz

Together they form an agglomeration withapprox. 150 000 citizens, sharing theeconomy, human resources, civil amenities,

etc. The Liberec District is, by character, anindustrial district. Machine building, metalworking, production of parts for the

automotive industry, and the productionand processing of plastics are among themost important industries. The importanceof the texti le industry is graduallydeclining. Besides industry, there are othernotable sectors, such as bui ld ing,transportation, and communication, andthe tertiary sector. A significant number ofcompanies have some foreign capital.Thanks to its geographical location, theLiberec District is suitable for year-roundrecreational activities.

View of Ještěd Hill

R E G I O N

Liberec: The Dynamically Developing Town Below JeštědThe regional capital of Liberec is experiencing a large-scalebuilding boom – especially in thearea of business and servicedevelopment. It is also targetedfor many development plans.The sole focus of theconstruction companies does notjust lie on the outer parts of thetown. They are also interested inthe centre, where new structureshave recently risen, or areplanned. DELTA, a multi-functional centre by AmadeusReal, has been built in thecentral part of the town. It has 5 450 sq. m for new businessareas and 750 sq. m of officespace.

Another large project is justgett ing underway -"FORUM Liberec" -a business and socia lcomplex of 39 000 sq.m for shopping malls,administrat ive andres ident ia l areas, 120business units, areas forenterta inment, sport ,relaxation, restaurants, and850 parking places. Thesite of the demolishedTextilana textile factory ishome to a project worthmore than CZK two billion(approx. EUR 67 million); the so-calledPromenade – a shopping andentertainment centre. There is a newdevelopment in the business-industrialzone next to the airport in the borough ofRůžodol – a Globus hypermarket (10 000sq. m), shopping alley, and a mall withmore than 50 stores. It is due to openduring the autumn of 2007. NISA Liberec,with 4 million customers per year the mostvisited and most popular shopping centrein the region of Liberec, is undergoing anextensive reconstruction of its interiors andexteriors with plans for a significantenlargement. Upon completion in 2008,the shopping centre should offer twice thecapacity, including an 8-screen cinema.There are plans for a shopping andentertainment multi-functional complexPLAZA in the central part of the town, inŠaldovo Square.

■ I N V E S T M E N T I N TO S P O R T SIn view of the fact that Liberec is going tobe host ing the World Nordic SkiChampionships in 2009, there areintensive works going on to prepare twovenues for this championship: a skijumping complex at Ještěd and a crosscountry complex at Vesec. In 2011, Liberecwill also play the host to participants of theeighth winter European Youth OlympicFestival. The Ještěd Sports Centre has beenrented to Snowhill s. r. o., which hasinvested into new ski-lifts, chair-lifts, andsnow-making systems. These massivechanges saw it become one of the bestequipped skiing centres in the CzechRepublic. There really is a great amount ofinvestment going into sports in Liberec.The swimming pool at Tržní náměstí hasbeen given a 150 m stainless spiral chute in2006 – one of the longest in Europe. Thelargest turf field in Liberec and the regionof Liberec is being built next to the newTipsport Arena. Thanks to its size, it willeven allow for staging of Americanfootball matches.

■ I N D U S T R I A L T R A D I T I O NLiberec is, however, also a town thatdevelops its industrial traditions. A secondindustrial zone is being built. It will beconnected to a four-lane road from Liberecto Prague, with plans for a connection tothe German border. The TechnicalUniversity of Liberec has also seen a greatdeal of new development. Applicants areoffered new fields of study and classroomsand laboratories with top equipment.

Jiří KittnerMayor of Liberec

Several multifunction centres will be constructed in the central part of thetown

Liberec will be the venue of the 2009 Cross-country Skiing World Championships

R E G I O N

Česká Lípa District

the most visitors, and the well-knownchateaux are Lemberk, Zákupy, andHouska. Sloup – the biggest rock castle inBohemia – was cut into the sandstonemassif of a table mountain (www.zamky-hrady.cz). The history of glassmaking is presented by the glass museumsin Nový Bor and Kamenický Šenov (www.novy-bor.cz/sklarske_muzeum/).

Summer recreation in the District isconnected with water-related activities in

Městský úřad Česká Lípa(Česká Lípa Municipal Office)Nám. T.G. Masaryka 1470 36 Česká LípaCzech RepublicPhone: +420 487 881 111Rax: +420 487 521 829e-mail:podatelna@mucl.czwww.mucl.cz

B R I E F S TAT I S T I C SIndicator District RegionArea (in sq. km) 1 137 3 163

Population 106 266 430 285

Inhabitants/sq. km 93 136

FOREIGN INVESTORSInvestor Country of origin Czech partner Sector ContactJohnson Controls Int. B. V. USA, Netherlands Johnson Controls Czech, s.r.o. automotive industry www.johnsoncontrols.comVarta Automotive AG USA Autobaterie, s.r.o. automotive industry www.varta.czFesto Tooltechnic GmbH Germany Narex Česká Lípa, a.s. engineering tools www.narex.czF.S.Fehrer International Germany Fehrer Bohemia, s.r.o. automotive industry www.fehrer.comholding, GmbHDelphi Automotive Systems USA Delphi Packard automotive industry www.delphipackard.com

Electric CR, s.r.o.

SELECTED F IRMSName Based in Sector ContactPolydekor, s.r.o. Česká Lípa textile industry www.polydekor.czCrystalex, a.s. Nový Bor glass www.crystalex.czDiamo, s.p. Stráž pod uranium mining, chemicals www.diamo.cz

RalskemSauer Gruppe, a.s. Žandov compressors www.sauerzandov.czMitop, a.s. Mimoň textile industry www.mitop.czSlévárna hliníku, s.r.o. Nový Bor aluminium alloys www.slevarnahliniku.czEgermann, s.r.o. Nový Bor glass www.egermann.czFalcon Mimoň, a.s. Mimoň furniture production www.falconmimon.czSlévárna Žandov gray iron castings www.slevarnasz.czSZ Žandov, s.r.o.MEGA, a.s. Stráž pod membrane technologies www.mega.cz

RalskemProvimi Pet Food CZ, s.r.o. Česká Lípa feeds www.propesko.czFol-Obal, s.r.o. Vrchlabí packaging foils www.folobal.cz

âeská Lípa

The Česká Lípa District, with an area of1137 sq. km, is one of the largest in theLiberec Region. It has 57 municipalities, 10of them with the status of a town. TheDistrict’s biggest and most importantcentre, the town of Česká L ípa(www.mucl.cz), has 40 186 inhabitants. Interms of age composit ion of thepopulation, the District is one of theyoungest in the Czech Republic, with anaverage age of about 37 years. It can becharacter ised as an industr ia l andagr icultural d istr ict . Agr iculturalproduction is operated by privately ownedfarms.

The Česká Lípa District has a tradition ofwidely spread industry, employing almost43 % of the economical ly act ivepopulation. The most important industrialbranches in the area are glass manufactureand newly developing productions of carparts and accessories. Glassmaking, withsome unique technologies in the District,has a tradition of many years and isconcentrated especially in Nový Bor andKamenický Šenov (www.novy-bor.cz,www.kamenicky-senov.cz) . The rawmaterials produced in the area are sandsand aggregates.

The Česká Lípa District is a popularrecreational area. Bezděz Castle ranksamong its historical monuments attracting

Summer recreation activities are connected with the environs of Mácha Lake

Městské informační centrum(Municipal Information Centre)Nám. T.G.Masaryka l470 36 Česká Lípaphone: + 420 487 881 106e-mail: mic@mucl.cz

the Mácha Lake area, but cycle tourismand horse riding have developed as well(www.machovojezero.cz).

R E G I O N

Jablonec nad Nisou District

mestojablonec.cz) , Železný Brod(www.zeleznybrod.cz) , and Tanvald(www.tanvald.cz) . There are 34communities, 8 of which are towns. Over80 % of the District's population live in thetowns.

The Region is noted for the high level ofeconomic activity of its citizens, whichstems from the tradit ional ly h ighemployment rates of women in the glassand imitation jewellery industries. Machinebuilding, electrical engineering, andprocessing rank among the District's mostimportant industries. There are manysuppliers for the automobile industry aswell. There is not much agriculture. Due tothe broken terrain, there are no largeindustrial zones.

The District is an attractive tourism areaand ranks among the leading districts withhigh numbers of foreign visitors. There are

Městský úřad Jablonec nad Nisou(Jablonec nad Nisou Municipal Office)Mírové nám. 19467 51 Jablonec nad NisouCzech RepublicPhone: +420 483 357 111Fax: +420 483 357 353e-mail: mujablonec@mestojablonec.czwww.mestojablonec.cz

B R I E F S TAT I S T I C SIndicator District RegionArea (in sq. km) 402 3 163

Population 88 639 430 285

B R I E F S TAT I S T I C SIndicator District RegionArea (sq. km) 699 3 163

Population 74 590 430 285

FOREIGN INVESTORSInvestor Country of origin Czech partner Sector ContactTRW France Holding France Lucas Autobrzdy, s.r.o. automobile components www.lucas.czHans Riegelein . Germany Riegelein, k.s. food processing www.riegelein.deSchurter Holding AG Switzerland Schurter, s.r.o. electrical engineering www.schurter.czValeo Electronique et Systémes de Liaison France Sylea Tchéquia, s.r.o. automobile cables www.valeo.frTI Group Automotive Systems Belgium TI Automotive AC, s.r.o. automobile industry www.tiauto.com

SELECTED F IRMSName Based in Sector ContactLiglass, a.s. Železný Brod crystal lights www.liglass.czDesko, a.s. Desná v Jizerských horách glass moulds www.desko.czJablonex Group, a.s. Jablonec nad Nisou imitation jewellery manufacture www.jablonexgroup.comBTV plast, s.r.o. Jablonec nad Nisou plastic processing www.btvplast.czDetoa, s.r.o. Albrechtice v Jizerských Horách toys, gems www.detoa.czPreciosa, a.s. Jablonec nad Nisou glass www.preciosa.comLegnex, s.r.o. Jablonec nad Nisou band saws www.legnex.czUnitherm, s.r.o. Jablonec nad Nisou automobile components www.unitherm.czOrnex, s.r.o. Jablonec nad Nisou Christmas decorations www.ornex.czJablotron, s.r.o. Jablonec nad Nisou security systems www.jablotron.cz

Jablonecn. Nisou

The Jablonec nad Nisou District is a borderdistrict – one whose northern borderdoubles as the state border with Poland.Jablonec nad Nisou is, with its 402 sq. km,one of the smallest districts in the CzechRepubl ic . I t , however, has a highpopulation density of 220 persons per sq.km. The main settlements include thetowns of Jablonec nad Nisou, (www.

Informační centrum(Information centre)Mírové nám. 19, 467 51 Jablonec nad NisouCzech RepublicPhone: + 420 483 357 335-7Fax: + 420 483 311 370e-mail: icjablonec@mestojablonec.czwww.mestojablonec.cz/cs/turisticke-informace/informacni-centrum.html

Semily District

Městský úřad Semily(Semily Municipal Office)Husova 82513 01 SemilyCzech RepublicPhone: +420 481 629 211 Fax: +420 481 622 534e-mail: musm@semily.czwww.semily.cz

Semily

The Semily District is in the south-east partof the Liberec Region. The KrkonošeMountains dominate the northern part ofthe District's rugged topography. TheDistrict is one of the lesser populated areas.The towns are mostly smaller and thepopulation density is low. There are 65communities, 9 of which are towns. Themost populous towns are Turnov(www.turnov.cz) and Semily (www.semily.cz) with 14 680 and 9 360 citizens

the Jizerské hory Mountains, which offersome good skiing grounds during thewinter season.

respectively. 60 % of the District's popu-lation live in towns.

The traditionally strong textile industry

FOREIGN INVESTORSInvestor Country of origin Czech partner Sector ContactDevro Group United Kingdom Cutisin, a.s. food packaging www.cutisin.czMehler Haku GmbH Germany Technolen technický textil, a.s. textile industry www.technolen.czOntex N. V. Belgium Ontex CZ, s.r.o. hygienic equipment www.ontex.czSchnitzler und Vogel GmbH Germany Glanztex, s.r.o., Lomnice nad Popelkou textile machines www.glanztex.czLinz Textil Holding Austria R T K, tkalcovna, s.r.o. textile industry www.linz-textil.atAktiengesellschaft

Informační centrum(Information Centre)Riegrovo nám. 68, 513 01 SemilyCzech RepublicPhone: + 420 481 624 721Fax: + 420 481 624 721e-mail: info@semily.cz

has registered a significant decline. Theprocessing industries of an engineeringcharacter are now the predominant fields.An important spot is occupied by glass andfood processing companies.

The entire District is very attractive for

tourists. The mountainous area of theKrkonoše is known for its skiing centres:Harrachov, Benecko, Rokytnice nad Jizerou,Vysoké nad J izerou (www.hory-krkonose.cz). Český ráj (Czech Paradise)was the first protected landscape area in

SELECTED F IRMSName Based in Sector ContactGranát Turnov, d.u.v. Turnov Jewelry manufacture www.granat.czEprona, a.s. Rokytnice nad Battery chargers www.eprona.cz

JizerouAXL, a. s. Semily Engineering www.axl.czSklostroj Turnov CZ, s.r.o. Turnov Engineering www.sklostroj.czHybler Textil, s.r.o. Semily Textile industry www.hybler.czŠroubárna Turnov, a.s. Turnov Engineering accessories www.sroubtu.czNástrojárna Semily, s.r.o. Semily Hydraulics www.axl.cz/nastrojarna/Dioptra, a.s., Turnov Turnov Optics www.dioptra.czVyvaPlast, s.r.o. Semily Industrial packaging www.vyvaplast.cz

our country. It was established in 1955.Trosky (www. trosky.cz), a medieval castle,and Kozákov, a legendary hilltop with a fieldof precious gems, are of great significance.Rock climbers are frequent visitors to thesandstone rocks – another typical feature ofČeský ráj. Bozkovské jeskyně (Bozkov caves)(www.caves.cz) are a world unique naturalmonument. The District's natural conditionsallow for the practice of new tourist tradeentrepreneur activities.

2006: Largest Foreign Investment in the Czech Republic

I N V E S T M E N T

■ V E RY M A N Y P R O J E C T SW I T H VA L U E A D D E D

"Investment exceeding USD 4.6 billion isan absolute record. Just imagine – the sumof money involved in all projects mediatedin 2004 and 2005 is still less than the2006 amount", Tomáš Hruda specified."Many of the new projects have a highvalue added. In 2006, we had a total of 44projects for technology centres and sharedservices centres – this, too, is the highestnumber in the Agency’s history. In thecoming years, CzechInvest will focus evenmore intens ively on sophist icatedinvestment with a high value added. Theseprojects belong to the most attractiveones, as they bring technological know-how, draw experts, and give the CzechRepublic a good name abroad."

Most projects and the highestinvestment – USD 2.2 billion went to theMoravia-Silesia Region, and the secondlargest amount – USD 0.6 billion – to theÚstí Region. These two areas rank among

those hit by the most serious structuralproblems. "One half of the ten largestprojects on which we worked last yearswere expansions. This shows that investorsare doing well in the Czech Republic, thatthey want to develop their activities andcertainly do not intend to leave the CzechRepublic", explains René Samek, Directorof the Division of Support to Investmentand Applied Research. "We are alsomediating orders for Czech firms. In 2006,companies in the Czech Republ icconcluded with our assistance contracts ondeliveries for almost CZK 2 billion."

Jana Strejčková CzechInvest

(e-mail: jana strejckova@czechinvest.org)www.czechinvest.org

In 2006, the CzechInvestAgency mediated a total of 176investment projects for USD 4.6billion (CZK 114 billion) in theCzech Republic. The number ofprojects and the volume ofinvestment in 2006 were thehighest in the Agency’s history.Compared with 2005, theincrease was 25 companies andUSD 2.5 billion. These projectsshould create at least 34 824jobs in the next few years.Tomáš Hruda, CzechInvestGeneral Manager, has said that"Foreign investors seek in theCzech Republic highly qualifiedlabour, advantageousgeographical situation, orreasonable running costs. Butthose who profit from theseadvantages in the first placeare domestic companies, whichare gradually becomingimportant players on the globalmarket."

LARGEST INVESTMENT PROJECTS IN 2006 – MANUFACTUREInvestor Sector Country of Investment Jobs Region

origin (mil. USD)Hyundai Motor automobile South Korea 1222 3 000 Moravia-SilesiaCompanyIPS Alpha electronic equipment Japan 120 2100 Ústí nad LabemTechnologyAGC (Glaverbel) glass Japan 115 71 Ústí nad LabemAutomotive components for the Germany 106 632 VysočinaLighting Reutlingen automobile industryHitachi electronic equipment Japan 102 2000 Ústí nad Labem

LARGEST INVESTMENT PROJECTS IN 2006 – SHARED SERVICES ANDTECHNOLOGY CENTRESInvestor Sector Country of Investment Jobs Region

origin (mil. USD)CCG aircraft repair centre Czech Republic 43 244 Moravia-SilesiaSWELL other Czech Republic 10 52 Hradec KrálovéStora Enso Timber IT, software Austria 9 63 Moravia-SilesiaEmerson Copeland electronic equipment USA 6.5 48 South MoraviaAlois Pottinger engineering Austria 5.75 43 PlzeňMaschinenfabrik equipmentGesellschaft

CzechInvest, the Investment and Business Development Agency, was established in 1992,and since then has participated in 771 investment projects worth a total of USD 18 556billion. These project provided 153 871 jobs directly and thousands of others in connectionwith them.

Focus on the Environment in the Czech Republic

S E R V I C E S

■ E N V I R O N M E N TA LA S P E C T S O F T H E C R ’ SM E M B E R S H I P O F T H E E U

All Czech environmental legislation is fullycompatible with that of the EU, and itsfuture development will follow in fullcompliance with new EU regulations nowin the pipeline. In general, foreigninvestors can expect to find a legislativeenvironment in the CR similar to that ofold EU member states. Some provisions ofCzech law, such as environmental impactassessment, in fact go beyond EUrequirements. In the 2007 to 2013 period,a massive influx of funds from EU supportfunds is anticipated. Drawing from thesefunds will be largely regulated by theEnvironment Operational Programme,which reckons with almost EUR 5 billion,approximately 40 % of which will be spenton water protection, about 25 % onprotection of the climate and atmosphereand some 15 % on waste disposal. Furtherfinancial resources for environmentalprotection will be made available fromother operational programmes (industry,transport, and regional operationalprogrammes).

■ E N V I R O N M E N TA L P E R M I T S Most permits are issued by the CR’s 13regional offices (usually the environmentand agriculture departments) and inPrague by the Prague City Council(Environment Department). Certain powers

have been delegated to se lectedmunicipalities.

■ R E C O M M E N D AT I O N S F O RN E W I N V E S TO R SExperience has shown that specialattention must be paid to the choice oflocality. In 2002, certain parts of the CRwere labelled as areas with low air quality.In these cases local authorities areexpected to apply stricter measures whenissuing permits, especially if dust ornitrogen oxide emitting technology isinvolved. Furthermore, at the end of 2004,certain localities were proclaimed aslocalities included in the NATURA 2000European nature protection network. Insuch localities, investment activities will bepractically ruled out. A list of areas towhich stricter protection measures apply is avai lable at the Ministry of theEnvironment or at the regional officesconcerned (environment departments).Environment impact assessment (EIA) inthe Czech Republ ic i s a re lat ive lycomplicated process and it is stronglyrecommended not to underestimate it.Only recently, certain investment projectswere rejected due to incomplete or lackingenvironment impact assessmentdocumentation. Communication with thelocal public concerned should be initiatedat the very beginning of each investmentproject, to spare investors problems ata later stage.

The Czech Republic’s coreenvironmental strategy is laiddown in the State EnvironmentalPolicy of the CR 2004–2010.This document reflects theobjectives and priorities set bythe Sixth EU Environment ActionProgramme (Environment 2010:Our Future, Our Choice) anddefines four priority areas:protection of nature, thecountryside and biologicaldiversity, sustainable exploitationof natural resources, materialflows and waste disposal,the environment and quality of life, and protection of theEarth’s climatic system andlimitation of the long-distancetransfer of air pollution. Prioritytargets are defined for each of the priority areas, and partialobjectives and measures areoutlined for each priority target.The priority of the new CzechGovernment formed after the2006 elections is the protectionof the climate and theatmosphere through energysaving and the use of renewablesources (including bio-fuels) as well as through stricterregulation of transport. As in thepast, substantial attention willbe paid to the prevention of water pollution (completion of sewage water systems and treatment plants) and theprotection of nature and thecountryside (especially floodprevention measures).

The environment in the CR has become largely stabilised in the past six years

S E R V I C E S

■ S TAT E O F T H EE N V I R O N M E N T I N T H E C Z E C HR E P U B L I C I N 1 9 9 0 - 2 0 0 6Detailed information on the developmentand state of the environment in the CR iscontained in environment reports and"The Environment" statistical yearbooksavailable in Czech and English on thewebsite of the Ministry of the

Environment. The information at handreveals that fol lowing a strongimprovement between 1990 and 2000, theenvironment in the CR has become largelystabilised in the past six years. The mostacute problems include the overal lpollution of the environment with dustpart ic les, polycyc l ic aromaticcarbohydrates and tropospheric ozone,

high greenhouse gas unit emissions, highnoise pol lut ion, lacking landscapeinfrastructure, the unsatisfactory conditionof forests and certain aspects of wastedisposal.

Vladislav BízekDHV CR spol. s r.o.,

Member of DHV Group

Ministry of the Environment of the Czech Republicwww.env.cz(environmental policy, environmental protection legislation,detailed information on the current state of the environment,information on EU support funds)

The State Environmental Fund of the CRwww.sfzp.cz(information on means of financial support available fromdomestic resources and EU funds)

Czech Hydrometeorological Institutewww.chmi.cz(information on atmospheric conditions in the CR)

T.G. Masaryk Water Research Institutewww.vuv.cz(information on water and waste)

CENIA, Czech Environmental Information Agency (formerlythe Czech Environmental Institute)

www.cenia.cz(information on integrated pollution prevention and control – IPPC, EMAS)

Ministry of Industry and Trade of the CRwww.mpo.cz(industrial policy, energy policy, EU support funds)www.ippc.cz(website on integrated pollution prevention and control – IPPC)

Ministry for Regional Development of the CRwww.mmr.cz(regional policy, information on EU support funds)

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