FOREIGN DIRECT INVESTMENT. March 2002

Transcription

1 2000 FOREIGN DIRECT INVESTMENT March 2002

2 1. INTRODUCTION Orientation and content of the publication This fourth edition of the annual publication Foreign Direct Investment provides an in-depth survey of foreign direct investment in the Czech Republic and domestic investment abroad. The aim of this publication is to help satisfy the growing demand for detailed information on this part of the balance of payments. Foreign direct investment (FDI) is becoming one of the key indicators in quantifying and assessing the effect of globalisation on the world economy. Economic studies have demonstrated that direct investment fosters growth in efficiency, affects the employment rate, expands production capacities, promotes restructuring, generates export growth and ultimately contributes to GDP growth. FDI is considered particularly beneficial to developing economies, however the main share of the internationally invested capital still goes to the most advanced world economies. Transition economies are a specific group competing for the maximum share of the international supply of investment capital. A nation s attractiveness to foreign investors is considered an indicator of the stability and soundness of its economy, and the volume of FDI inflow is one of the yardsticks of progress with economic reform. FDI is also significant because of the mass privatisation of state assets in the former command economies. The main reasons for the need for reliable, comprehensive and up-to-date data on FDI can be summarised as follows: the significance of direct investment for the national economy, the special role of FDI inflows in transition economies, to indicate the nation s standing within the world economy, to improve the quality of data for the compilation of the nation s balance of payments, the requirements of international organisations regarding FDI data, the interconnection of the FDI statistics with other statistical systems (international trade in services, globalisation). The growing demand for comparable, high-quality and up-to-date FDI data has prompted the introduction of joint EUROSTAT/OECD questionnaires on direct investment stocks, flows and income. Closely linked with the area of FDI reporting is the issue of quantifying the globalisation process as well as the international trade statistics in the services sector. In 1998, the CNB changed its FDI reporting methodology in order to harmonise the Czech FDI statistics with international standards. As from 1997, the reporting duty to international organisations in the area of FDI stocks has been met to the full extent for all required indicators. In 1999, the Czech Republic became one of the first OECD and IMF member countries to start submitting statistical data on foreign affiliate trade in services (FATS Statistics). The publication Foreign Direct Investment consists of five sections. The first two sections contain summary and cross-sectional tables with data on stocks of direct investment abroad and in the Czech Republic broken down by economic activity and territory. The next section presents data on direct investment flows in the reference year. The following section gives time series for FDI stocks and flows since the establishment of the Czech Republic in The last section includes selected indicators for foreign affiliates in the service sector.

3 Definition of foreign direct investment The CNB bases its FDI statistics on the definition of foreign direct investment set by the OECD in harmony with EUROSTAT and the IMF. This definition specifies that: Foreign direct investment reflects the objective of obtaining a lasting interest by a resident entity in one economy ( direct investor ) in an entity resident in an economy other than that of the investor ( direct investment enterprise ). The lasting interest implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence on the management of the enterprise. Direct investment involves both the initial transaction between the two entities and all subsequent capital transactions between them and among affiliated enterprises, both incorporated and unincorporated. A direct investment enterprise is defined as an incorporated or unincorporated enterprise in which a foreign investor owns 10 per cent or more of the ordinary shares or voting power of an incorporated enterprise or the equivalent of an unincorporated enterprise. A direct investment enterprise includes directly and indirectly owned affiliates. These are divided according to the investor s percentage ownership of the ordinary shares or voting power into subsidiaries (more than 50%), associates (10% 50%) and branches (whollyowned permanent establishments or offices of a direct investor; land and structures directly owned by a foreign resident; or mobile equipment that operates within an economy for at least one year). In addition to shares in equity capital, foreign direct investment covers reinvested and other capital, including lending transactions with a direct investor. The composition of direct investment can thus be expressed using the following relationship: Direct investment = equity capital + reinvested + other capital Equity capital comprises nonresident investment in the equity of a company and all shares in subsidiaries and associates. consist of the direct investor s share (in proportion to direct equity participation) of profit (loss) less dividends paid. The calculation of reinvested can be expressed using the following relationship: = current year s profit after tax + retained profit from previous years - current year s loss - accumulated losses from previous years - dividends covers the borrowing and lending of funds, including debt securities and trade credits, between direct investors and their subsidiaries, associates and branches. These transactions are recorded under intercompany claims and liabilities.

4 Survey results CZECH DIRECT INVESTMENT ABROAD The volume of direct investment abroad by domestic investors amounted to CZK 27.9 billion (USD 0.7 billion; EUR 0.8 billion) as of 31 December Stock of domestic investment abroad as of 31 December 2000 Equity capital Equity capital + reinvested CZK billion 28,1-3,3 24,8 3,1 27,9 USD million 743,4-87,6 655,8 82,0 737,8 EUR million 801,1-94,4 706,7 88,4 795,1 Note: exchange rate 1 USD = 37,813 CZK 1 EUR = 35,090 CZK The stock of direct investment abroad by domestic investors amounted to CZK 27.9 billion at the end of 2000, an increase of approximately CZK 2.8 billion compared with a year earlier. Most of these funds were invested in the service sector, most notably financial intermediation and wholesale and retail trade and repairs. A comparison of the proportion of the funds channelled into the service sector with the share of investment in the production sector (86.3% and 13.3% respectively) backs the contention that the main reasons for the Czech direct investment are to ensure the sale of Czech goods via trade organisations abroad and to invest free financial funds in tax havens. Investment in the primary sector accounts for a marginal 0.4% of the total. By territory, Slovakia is the long-term largest recipient of domestic investment. Second is Liechtenstein, followed by the British Virgin Islands. Czech entities also made significant investments in Poland, Hungary and Germany. An analysis of the structure of the direct investment abroad shows that most foreign affiliates are so far loss-making. Given the generally low volume of invested funds, the area of direct investment outflow is characterised by an unsteady territorial and industrial structure. The total volume of funds invested abroad is being reduced substantially by the gradual liquidation of the former enterprises specialised in foreign trade.

5 Czech direct investment abroad as of 31 December by economic activity Food products 3,0% Non-metallic mineral products 2,8% Transports, communication 2,0% Other 5,1% Other transport equipments 3,5% Financial intermediation 41,0% Other services 5,7% Real estate and business activities 6,9% Trade and repairs 30,1% Czech direct investment abroad as of 31 December by country Hong Kong 3,7% Other 22,2% Slovakia 30,1% Cyprus 4,2% Germany 5,0% Liechenstein 17,8% Hungary 5,1% Poland 5,9% British Virgin Islands 6,1%

6 FOREIGN DIRECT INVESTMENT IN THE CZECH REPUBLIC The volume of foreign direct investment in the Czech Republic amounted to CZK billion (USD 21.6 billion; EUR 23.3 billion) as of 31 December Stock of foreign investment in the Czech Republic as of 31 December 2000 Equity capital Equity capital + reinvested CZK billion 641,4 60,8 702,2 116,2 818,4 USD billion 16,9 1,6 18,5 3,1 21,6 EUR billion 18,3 1,7 20,0 3,3 23,3 Note: exchange rate 1 USD = 37,813 CZK 1 EUR = 35,090 CZK The year-on-year increase of CZK 190 billion in the stock of foreign direct investment in the Czech Republic to CZK billion at the end of 2000 confirms the stable rate of FDI inflow into the domestic economy. Privatisation especially of financial institutions (e.g. Erste Bank purchase of the state-owned stake in Česká spořitelna) continues to contribute substantially to FDI growth. However, at the same time we are witnessing sizeable capital increases and the establishment of new operating units at companies with long-term foreign equity participation (e.g. Škoda Auto). Less significant in terms of volume was growth in greenfield investment (e.g. Matsushita Television). Almost half the total foreign investment comes from the 120 largest investors. However, the foreign equity participation has a much wider base overall, made up of around 3,400 units. This group includes all foreign investors in the Czech Republic except for statistically insignificant small businessmen with a trade licence. Almost one third of the total number of foreign investors come from Germany. Austria follows with one sixth. However, the average volume of investment from these countries is less than CZK 200 billion per investor. The Netherlands, Belgium, the United Kingdom and the USA have the highest average investment volumes per unit. By economic sector, the service sector remains the largest recipient of foreign direct investment, absorbing almost 60% of the total volume of invested capital, as in Within the tertiary sector, investment in wholesale and retail trade, financial intermediation and telecommunications predominates as usual. The volumes of funds invested in these industries reflect banking sector privatisation, the development of retail chains and growth in the area of mobile telephone operators. As in the previous year, approximately 38% of the foreign investment was channelled into the production sector, most notably manufacture of oil and other non-metallic mineral products and manufacture of motor vehicles. The remaining 2% of the total was invested in the primary sector, chiefly in mining and quarrying.

7 Foreign direct investment in the Czech Republic as of 31 December by economic activity Non-metallic mineral products 5,9% Other 24,5% Trade and repairs 15,0% Financial intermediation 14,7% Motor vehicles 6,3% Transports, communication 11,2% Petroleum, chemical products 6,5% Electricity, gas and water 66% Real estate and business activities 9,2% Foreign direct investment in the Czech Republic as of 31 December by country France 4,3% Switzerland 4,0% United Kingdom 3,5% Other 10,3% Netherlands 30,1% Belgium 4,8% United States 6,5% Austria 11,1% Germany 25,5%

8 At the end of 2000 the stock of FDI in the Czech Republic exceeded the estimate published at the start of 2001 by more than CZK 20 billion. The foreign investment structure reveals that investment in equity capital did not reach the originally expected amount. However, inflow of other capital (loans) was higher than expected, as was the volume of reinvested (consisting of foreign investors shares of company profits). The growth rate of reinvested reflects both higher inflow of foreign capital into profitable industries and rising in existing investments, which, following an initial period of increased investment costs, are stabilising and starting to show profits or reduced losses relative to the previous year. In addition to financial intermediation, the most profitable industries are telecommunications, electricity, gas and water supply, manufacture of motor vehicles, manufacture of mineral products and manufacture of rubber and plastic products. As regards country of origin, 84% of the investment comes from EU countries. OECD member states account for more than 96% of the investment inflow. There were no major changes to the ranking of the largest investor countries. The only exception is the United Kingdom, whose total capital inflow into the Czech Republic was slightly lower than a year earlier because of relocation of investors into other EU countries. This practice is very frequent, particularly with multinational companies, which optimise their costs by flexible reallocation of capital. The Netherlands and Germany continue to account for the biggest volumes of direct investment in the Czech Republic.

9 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries CZK thousand Code Country Equity capital A1 TOTAL WORLD AR Argentina AU Australia AT Austria BY Belarus BE Belgium BA Bosnia and Herzegovina BR Brazil VG British Virgin Islands BG Bulagaria CA Canada HR Croatia CY Cyprus DK Denmark EG Egypt EE Estonia FI Finland FR France GE Georgia DE Germany GG Guernsey GN Guinea HK Hong Kong HU Hungary CL Chile CN China IN India IR Iran IE Ireland IT Italy JE Jersey KZ Kazakhstan LV Latvia LB Lebanon LI Liechtenstein LT Lithuania LU Luxembourg MY Malaysia MT Malta MX Mexico MD Moldova, Republic of MN Mongolia MM Myanmar NL Netherlands AN Netherlands Antilles NG Nigeria NO Norway PE Peru PL Poland PT Portugal RO Romania RU Russian Federation VC St. Vincent and the Grenadines SG Singapore SK Slovakia SI Slovenia ES Spain SE Sweden CH Switzerland

10 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries CZK thousand Code Country Equity capital TM Turkmenistan UA Ukraine AE United Arab Emirates GB United Kingdom US United States UZ Uzbekistan VE Venezuela YU Yugoslavia PZI1_Z

11 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries EUR thousand Code Country Equity capital A1 TOTAL WORLD AR Argentina AU Australia AT Austria BY Belarus BE Belgium BA Bosnia and Herzegovina BR Brazil VG British Virgin Islands BG Bulagaria CA Canada HR Croatia CY Cyprus DK Denmark EG Egypt EE Estonia FI Finland FR France GE Georgia DE Germany GG Guernsey GN Guinea HK Hong Kong HU Hungary CL Chile CN China IN India IR Iran IE Ireland IT Italy JE Jersey KZ Kazakhstan LV Latvia LB Lebanon LI Liechtenstein LT Lithuania LU Luxembourg MY Malaysia MT Malta MX Mexico MD Moldova, Republic of MN Mongolia MM Myanmar NL Netherlands AN Netherlands Antilles NG Nigeria NO Norway PE Peru PL Poland PT Portugal RO Romania RU Russian Federation VC St. Vincent and the Grenadines SG Singapore SK Slovakia SI Slovenia ES Spain SE Sweden CH Switzerland

12 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries EUR thousand Code Country Equity capital TM Turkmenistan UA Ukraine AE United Arab Emirates GB United Kingdom US United States UZ Uzbekistan VE Venezuela YU Yugoslavia PZI1_Z

13 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries USD thousand Code Country Equity capital A1 TOTAL WORLD AR Argentina AU Australia AT Austria BY Belarus BE Belgium BA Bosnia and Herzegovina BR Brazil VG British Virgin Islands BG Bulagaria CA Canada HR Croatia CY Cyprus DK Denmark EG Egypt EE Estonia FI Finland FR France GE Georgia DE Germany GG Guernsey GN Guinea HK Hong Kong HU Hungary CL Chile CN China IN India IR Iran IE Ireland IT Italy JE Jersey KZ Kazakhstan LV Latvia LB Lebanon LI Liechtenstein LT Lithuania LU Luxembourg MY Malaysia MT Malta MX Mexico MD Moldova, Republic of MN Mongolia MM Myanmar NL Netherlands AN Netherlands Antilles NG Nigeria NO Norway PE Peru PL Poland PT Portugal RO Romania RU Russian Federation VC St. Vincent and the Grenadines SG Singapore SK Slovakia SI Slovenia ES Spain SE Sweden CH Switzerland

14 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries USD thousand Code Country Equity capital TM Turkmenistan UA Ukraine AE United Arab Emirates GB United Kingdom US United States UZ Uzbekistan VE Venezuela YU Yugoslavia

15 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic activities CZK thousand Code Economic activity Equity capital 9999 TOTAL Agriculture, hunting and related service activities Forestry, logging and related service activities Mining of coal and lignite; extraction of peat Other mining and quarrying Manufacture of food products and beverages Manufacture of tobacco products Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear Manufacture of wood and of products of wood and cork, except furniture;manuf.of articles of straw and plaiting materials Manufacture of pulp, paper and paper products Publishing, printing and reproduction of recorded media Manufacture of coke, refined petroleum products and nuclear fuel Manufacture of chemicals and chemical products Manufacture of rubber and plastic products Manufacture of other non-metallic mineral products Manufacture of basic metals Manufacture of fabricated metal products, except machinery and equipment Mechanical products Manufacture of electrical machinery and apparatus n.e.c Radio,TV,communication equipments Manufacture of medical, precision and optical instruments, watches and clocks Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling Electricity, gas, steam and hot water supply Collection, purification and distribution of water Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Land transport Water transport Supporting and auxiliary transport activities; activities of travel agencies Post and telecommunications Financial intermediation, except insurance and pension funding Insurance companies, pension funds Activities auxiliary to financial intermediation Real estate Renting of machinery and equipment without operator and of personal and household goods Computer activities Research and development Other business activities Health and social work Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities Private households with employed persons PZI2_Z

16 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic activities EUR thousand Code Economic activity Equity capital 9999 TOTAL Agriculture, hunting and related service activities Forestry, logging and related service activities Mining of coal and lignite; extraction of peat Other mining and quarrying Manufacture of food products and beverages Manufacture of tobacco products Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear Manufacture of wood and of products of wood and cork, except furniture;manuf.of articles of straw and plaiting materials Manufacture of pulp, paper and paper products Publishing, printing and reproduction of recorded media Manufacture of coke, refined petroleum products and nuclear fuel Manufacture of chemicals and chemical products Manufacture of rubber and plastic products Manufacture of other non-metallic mineral products Manufacture of basic metals Manufacture of fabricated metal products, except machinery and equipment Mechanical products Manufacture of electrical machinery and apparatus n.e.c Radio,TV,communication equipments Manufacture of medical, precision and optical instruments, watches and clocks Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling Electricity, gas, steam and hot water supply Collection, purification and distribution of water Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Land transport Water transport Supporting and auxiliary transport activities; activities of travel agencies Post and telecommunications Financial intermediation, except insurance and pension funding Insurance companies, pension funds Activities auxiliary to financial intermediation Real estate Renting of machinery and equipment without operator and of personal and household goods Computer activities Research and development Other business activities Health and social work Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities Private households with employed persons PZI2_Z

17 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic activities USD thousand Code Economic activity Equity capital 9999 TOTAL Agriculture, hunting and related service activities Forestry, logging and related service activities Mining of coal and lignite; extraction of peat Other mining and quarrying Manufacture of food products and beverages Manufacture of tobacco products Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear Manufacture of wood and of products of wood and cork, except furniture;manuf.of articles of straw and plaiting materials Manufacture of pulp, paper and paper products Publishing, printing and reproduction of recorded media Manufacture of coke, refined petroleum products and nuclear fuel Manufacture of chemicals and chemical products Manufacture of rubber and plastic products Manufacture of other non-metallic mineral products Manufacture of basic metals Manufacture of fabricated metal products, except machinery and equipment Mechanical products Manufacture of electrical machinery and apparatus n.e.c Radio,TV,communication equipments Manufacture of medical, precision and optical instruments, watches and clocks Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling Electricity, gas, steam and hot water supply Collection, purification and distribution of water Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Land transport Water transport Supporting and auxiliary transport activities; activities of travel agencies Post and telecommunications Financial intermediation, except insurance and pension funding Insurance companies, pension funds Activities auxiliary to financial intermediation Real estate Renting of machinery and equipment without operator and of personal and household goods Computer activities Research and development Other business activities Health and social work Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities Private households with employed persons

18 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic sectors - activities CZK thousand Code NACE Sectors - activities Equity capital I AGRICULTURE, FORESTRY, MINING AND QUARRYING Agriculture, forestry and fishing Mining and quarrying II MANUFACTURING Food products Textiles and wearing apparel Leather Wood, publishing and printing Petroleum, chemical, rubber and plastic products Manufacturing of other non-metallic products Metal products Mechanical products Manufacture of electrical machinery and apparatus n.e.c ,32 Machinery, computers, RTV, communication Manufacture of medical, precision and optical instruments Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling III SERVICES Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transports, communication Financial intermediation Real estate and business activities Other services TOTAL

19 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic sectors - activities EUR thousand Code NACE Sectors - activities Equity capital I AGRICULTURE, FORESTRY, MINING AND QUARRYING Agriculture, forestry and fishing Mining and quarrying II MANUFACTURING Food products Textiles and wearing apparel Leather Wood, publishing and printing Petroleum, chemical, rubber and plastic products Manufacturing of other non-metallic products Metal products Mechanical products Manufacture of electrical machinery and apparatus n.e.c ,32 Machinery, computers, RTV, communication Manufacture of medical, precision and optical instruments Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling III SERVICES Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transports, communication Financial intermediation Real estate and business activities Other services TOTAL

20 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic sectors - activities USD thousand Code NACE Sectors - activities Equity capital I AGRICULTURE, FORESTRY, MINING AND QUARRYING Agriculture, forestry and fishing Mining and quarrying II MANUFACTURING Food products Textiles and wearing apparel Leather Wood, publishing and printing Petroleum, chemical, rubber and plastic products Manufacturing of other non-metallic products Metal products Mechanical products Manufacture of electrical machinery and apparatus n.e.c ,32 Machinery, computers, RTV, communication Manufacture of medical, precision and optical instruments Motor vehicles Other transport equipment Manufacture of furniture; manufacturing n.e.c Recycling III SERVICES Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transports, communication Financial intermediation Real estate and business activities Other services TOTAL

21 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries CZK thousand Code Countries Equity capital A1 TOTAL WORLD E1 Europe D2 European Union BE Belgium DK Denmark FI Finland FR France IE Ireland IT Italy LU Luxembourg DE Germany NL Netherlands PT Portugal AT Austria ES Spain SE Sweden GB United Kingdom A5 EFTA LI Lichtensstein NO Norway CH Switzerland E2 Other European countries BY Belarus BA Bosnia a Herzegovina BG Bulgaria EE Estonia GG Guernsey HR Croatia JE Jersey YU Yugoslavia CY Cyprus LT Lithuania LV Latvia HU Hungary MT Malta MD Moldova, Republic of PL Poland RO Romania RU Russian Federation SK Slovakia SI Slovenia UA Ukraine E4 Africa E5 North African countries EG Egypt E6 Other African countries GN Guinea NG Nigeria E7 America E8 North American countries CA Canada US United States E9 Central American countries VG British Virgin Islands MX Mexico AN Netherlands Antilles VC Saint Vincent and The Grenadines F1 South American countries AR Argentina

22 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries CZK thousand Code Countries Equity capital BR Brazil CL Chile PE Peru VE Venezuela F2 Asia F3 Near and Middle East countries IR Iran, Islamic Republic of F4 Gulf Arabian Countries AE United Arab Emirates F5 Other Near and Middle East countries GE Georgia LB Lebanon F6 Other Asian countries CN China HK Hong Kong IN India KZ Kazakhstan MY Malaysia MN Mongolia MM Myanmar SG Singapore TM Turkmenistan UZ Uzbekistan F7 Oceania and Polar regions AU Australia U2 EUR A8 OECD B1 NAFTA D6 CCs A9 CEE

23 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries EUR thousand Code Countries Equity capital A1 TOTAL WORLD E1 Europe D2 European Union BE Belgium DK Denmark FI Finland FR France IE Ireland IT Italy LU Luxembourg DE Germany NL Netherlands PT Portugal AT Austria ES Spain SE Sweden GB United Kingdom A5 EFTA LI Lichtenstein NO Norway CH Switzerland E2 Other European countries BY Belarus BA Bosnia a Herzegovina BG Bulgaria EE Estonia GG Guernsey HR Croatia JE Jersey YU Yugoslavia CY Cyprus LT Lithuania LV Latvia HU Hungary MT Malta MD Moldova, Republic of PL Poland RO Romania RU Russian Federation SK Slovakia SI Slovenia UA Ukraine E4 Africa E5 North African countries EG Egypt E6 Other African countries GN Guinea NG Nigeria E7 America E8 North American countries CA Canada US United States E9 Central American countries VG British Virgin Islands MX Mexico AN Netherlands Antilles VC St. Vincent and the Grenadines F1 South American countries AR Argentina

24 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries EUR thousand Code Countries Equity capital BR Brazil CL Chile PE Peru VE Venezuela F2 Asia F3 Near and Middle East countries IR Iran, Islamic Republic of F4 Gulf Arabian Countries AE United Arab Emirates F5 Other Near and Middle East countries GE Georgia LB Lebanon F6 Other Asian countries CN China HK Hong Kong IN India KZ Kazakhstan MY Malaysia MN Mongolia MM Myanmar SG Singapore TM Turkmenistan UZ Uzbekistan F7 Oceania and Polar regions AU Australia U2 EUR A8 OECD B1 NAFTA D6 CCs A9 CEE

25 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries USD thousand Code Countries Equity capital A1 TOTAL WORLD E1 Europe D2 European Union BE Belgium DK Denmark FI Finland FR France IE Ireland IT Italy LU Luxembourg DE Germany NL Netherlands PT Portugal AT Austria ES Spain SE Sweden GB United Kingdom A5 EFTA LI Lichtensstein NO Norway CH Switzerland E2 Other European countries BY Belarus BA Bosnia a Herzegovina BG Bulgaria EE Estonia GG Guernsey HR Croatia JE Jersey YU Yugoslavia CY Cyprus LT Lithuania LV Latvia HU Hungary MT Malta MD Moldova, Republic of PL Poland RO Romania RU Russian Federation SK Slovakia SI Slovenia UA Ukraine E4 Africa E5 North African countries EG Egypt E6 Other African countries GN Guinea NG Nigeria E7 America E8 North American countries CA Canada US United States E9 Central American countries VG British Virgin Islands MX Mexico AN Netherlands Antilles VC Saint Vincent and The Grenadines F1 South American countries AR Argentina

26 2. FDI POSITIONS ABROAD AS OF DECEMBER Economic zones - countries USD thousand Code Countries Equity capital BR Brazil CL Chile PE Peru VE Venezuela F2 Asia F3 Near and Middle East countries IR Iran, Islamic Republic of F4 Gulf Arabian Countries AE United Arab Emirates F5 Other Near and Middle East countries GE Georgia LB Lebanon F6 Other Asian countries CN China HK Hong Kong IN India KZ Kazakhstan MY Malaysia MN Mongolia MM Myanmar SG Singapore TM Turkmenistan UZ Uzbekistan F7 Oceania and Polar regions AU Australia U2 EUR A8 OECD B1 NAFTA D6 CCs A9 CEE

27 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic zones total CZK thousand Code Contents Equity capital A1 World D2 European Union A5 EFTA E2 Other European countries E5 North African countries E6 Other African countries E8 North American countries E9 Central American countries F1 South American countries F3 Near and Middle East countries F4 Gulf Arabian countries F5 Other Near and Middle East countries F6 Other Asian countries F7 Oceania and Polar regions A8 OECD EUR thousand Code Contents Equity capital A1 World D2 European Union A5 EFTA E2 Other European countries E5 North African countries E6 Other African countries E8 North American countries E9 Central American countries F1 South American countries F3 Near and Middle East countries F4 Gulf Arabian countries F5 Other Near and Middle East countries F6 Other Asian countries F7 Oceania and Polar regions A8 OECD USD thousand Code Contents Equity capital A1 World total D2 European Union A5 EFTA E2 Other European countries E5 North African countries E6 Other African countries E8 North American countries E9 Central American countries F1 South American countries F3 Near and Middle East countries F4 Gulf Arabian countries F5 Other Near and Middle East countries F6 Other Asian countries F7 Oceania and Polar regions A8 OECD

28 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Countries CZK thousand Code Contents Equity capital A1 World AD Andorra AU Australia BS Bahamas BE Belgium BY Belarus BM Bermuda BA Bosnia and Herzegovina VG Virgin Islands, British BG Bulgaria CN China DK Denmark FI Finland FR France GI Gibraltar GG Guernsey HR Croatia IN India ID Indonesia IE Ireland IS Iceland IT Italy IL Israel JP Japan JE Jersey ZA South Africa KY Cayman Islands CA Canada KZ Kazakhstan KR Korea, Republic of (South Korea) CY Cyprus LB Lebanon LR Liberia LI Liechtenstein LU Luxembourg HU Hungary MY Malaysia MT Malta MX Mexico DE Germany NL Netherlands AN Netherlands Antilles NO Norway NZ New Zealand IM Isle of Man PA Panama PL Poland PT Portugal AT Austria RU Russian Federation GR Greece SM San Marino SA Saudi Arabia SC Seychelles SG Singapore SK Slovakia SI Slovenia US United States KN St Kitts and Nevis VC St Vincent and the Grenadines ES Spain SE Sweden CH Switzerland TW Taiwan, Province of China TR Turkey UA Ukraine GB United Kingdom VN Viet Nam