Press Advisories

23. 7. 2015 22:12

Prime Minister Sobotka today signed a Memorandum with Foxconn – nothing now stands in the way of a billion-crown investment

Prime Minister Bohuslav Sobotka signs a Memorandum of Cooperation with the Taiwanese company Foxconn, 23 July 2015.
Prime Minister Bohuslav Sobotka signs a Memorandum of Cooperation with the Taiwanese company Foxconn, 23 July 2015.
Shortly after noon today, Prime Minister Bohuslav Sobotka signed a Memorandum of Cooperation with the Taiwanese company Foxconn, which is planning to invest CZK 2.5 billion in expansion here in the next three years. Another CZK 3.7 billion will be channelled into human resources, thus creating 2,000 new jobs.

“The signing of the Memorandum of Cooperation between the Czech Government and Foxconn opens up a very important chapter in the field of investment and international cooperation. The Czech Republic is showing its readiness to work ever further and more deeply on the growth of the Czech economy and on the strategic development of the Czech technology industry. This is also another step in the successful pursuit of key government priorities, attracting new investment and creating new jobs. I am pleased to say that, in the last few years, we have managed to create a stable and attractive economic landscape that can attract strong domestic and foreign investors who are keen to keep growing. Our signing of this document today is clear proof of this,” said Prime Minister Bohuslav Sobotka.

The planned investment of CZK 2.5 billion is slated for a wide range of areas, including research and development, automation and digitisation solutions, infrastructure and e-commerce. “The Czech Republic is an industrial powerhouse, but we need to avail ourselves of the latest technology so that we can prosper in the face of international competition. Industrial digitalisation and automation and the Industry 4.0 concept are the themes of the day. It is in this direction that we must shepherd our resources if we are to stand our ground in global production,” said Minister for Industry and Trade Jan Mládek.

The Ministry of Industry and Trade, together with the CzechInvest agency, is the guarantor backing up working parties currently assessing the specific form to be taken by investment projects. The Ministry’s experts have established close cooperation with Foxconn in order to work together on specific requirements in areas such as personnel policy. “Foxconn’s expansion is an opportunity for current and future university students to gain experience at a global technology leader. With this in mind, we are locked in negotiations with the highest-level representatives of prominent technical universities to explore possible cooperation,” said Mládek. In the next three years, Foxconn will invest a further CZK 3.7 billion in recruitment and staffing costs.

The new research and design centre planned for the Czech Republic will design software solutions and products for European markets with a focus on automation, telecommunications, electronics for the automotive industry, analysis and data management. In tandem with its expansion plans, the company will hire several hundred IT and technology experts in subsequent years.

Source: Ministry of Industry and Trade

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