Czech Republic woos investors from Punjab, Hry | punjab | Hindustan Times
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Czech Republic woos investors from Punjab, Hry

Industrialists from Punjab and Haryana can invest in sectors like engineering and power in Czech Republic and take advantage of the tax incentives on offer, its Ambassador Miloslav Stasek said on Thursday.

punjab Updated: Feb 27, 2014 18:54 IST

Industrialists from Punjab and Haryana can invest in sectors like engineering and power in Czech Republic and take advantage of the tax incentives on offer, its Ambassador Miloslav Stasek said on Thursday.

"A highly educated workforce, low labour costs, convenient tax system, advanced ICT infrastructure, smooth connectivity through rail, road and air make the Czech Republic a perfect investment destination," he said while interacting with industry members during a PHD interactive session on bilateral trade relations here.

He further said the country offered investment incentives including a 10-year tax holiday and sops to technological centres and strategic service centres.

Stasek further informed that the Czech Republic has extended investment incentives in the form of financial support of up to 5 percent of the cost of strategic investments to investors for creating jobs.

He further said he looked forward to having collaborations in several areas including engineering, power- thermal, hydro, nuclear and solar, mining technology, equipment for treatment and water management, civil aviation, health, equipment for food industry and agriculture and education.

On bilateral trade between two countries, Stasek said Czech exports amounted to USD 653 million in 2012 while Indian exports were valued at USD 594 million in the same year.

Major imports from Czech companies to India are cars, machinery, energy facilities, turbines, chemicals etc. India's exports to that country include car parts, tractor parts, electrical equipment, pharmaceuticals, chemical products and machinery.