FOREIGN DIRECT INVESTMENT. March 200

Transcription

1 200 FOREIGN DIRECT INVESTMENT March 200

2 1. INTRODUCTION Focus and content of the publication The annual publication Foreign Direct Investment provides an in-depth statistical survey of foreign direct investment (FDI) in the Czech Republic and domestic direct investment abroad. The FDI statistics are compiled in accordance with the international standards adopted by the OECD, the European Commission and the IMF for compilation of the balance of payments, they are a part. Closely linked with FDI reporting is the issue of quantifying the globalisation process and the statistics on foreign affiliates. In 1998, the Czech National Bank changed its FDI reporting methodology to harmonise the Czech FDI statistics with international standards. Starting with the data for 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 data on foreign affiliates (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. 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

3 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 not distributed as 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. In compliance with the methodology applied in the EU, the territorial breakdown of foreign direct investment is based on the country of the immediate investor. The ultimate owner of the investment may thus come from some other country (for example, if a parent company owns a foreign affiliate which invests in the Czech Republic, the investment is classified as originating in the home country of that affiliate). The industrial breakdown is based on the Branch classification of economic activities (OKEC), that corresponds to the internationally used NACE classification.

4 Survey results CZECH DIRECT INVESTMENT ABROAD Stock of domestic direct investment abroad as of 31 December 2003 Equity capital Equity capital + reinvested CZK billion 48,5 2,5 51,0 7,6 58,6 USD billion 1,9 0,1 2,0 0,3 2,3 EUR billion 1,5 0,1 1,6 0,2 1,8 Exchange rate as of 31 December 2003: 1 USD = 25,654 CZK 1 EUR = 32,405 CZK Foreign direct investment by Czech investors reached CZK 58.6 billion as of 31 December 2003, an increase of CZK 14 billion compared to The biggest rises in investment were recorded in real estate and business activities, mining and quarrying and financial intermediation. However, most foreign subsidiaries of Czech investors were founded as vehicles for investing free funds and securing sales abroad; far fewer production units have been set up abroad. In services, the highest volumes of funds are regularly invested in financial intermediation and insurance. This sector accounts for almost 53% of the total capital invested abroad. Investment in real estate and in trade and repair was also significant. Overall, more than 80% of Czech investment was channelled into the services sector, whereas only 14% was invested in the manufacturing sector. As for the geographical breakdown, the largest part of Czech investment traditionally goes to Slovakia, where around one third of the total investment capital was allocated. The companies set up in Slovakia and other Central and Eastern European countries are generally production and sales businesses. Companies in other territories are more often founded in order to manage foreign activities or to optimise tax burdens, as is usually the case for investment going to Cyprus, the British Virgin Islands and Liechtenstein, but also the Netherlands and Luxembourg. Czech investment in these countries represents 50% of the total volume. Domestic companies also set up special purpose entities abroad, which are used, for example, to manage assets or to obtain funds from foreign capital markets.

5 Czech direct investment abroad as of 31 December by economic activity Other services 4,4% Food products 3,1% Mining and quarrying 1,8% Other 3,3% Hotels and restaurants 4,6% Petroleum, chemical products 6,2% Financial intermediation 52,7% Real estate and business activities 11,0% Trade and repairs 12,8% Czech direct investment abroad as of 31 December by country Gibraltar 3,9% Other 15,5% Slovakia 30,1% United Arab Emirates 4,1% British Virgin Islands 5,0% Liechtenstein 7,5% Luxembourg 7,7% Cyprus 11,9% Netherlands 14,3%

6 FOREIGN DIRECT INVESTMENT IN THE CZECH REPUBLIC Stock of foreign direct investment in the Czech Republic as of 31 December 2003 Equity capital Equity capital + reinvested CZK billion 767,0 242, ,4 152, ,8 USD billion 29,9 9,5 39,4 5,9 45,3 EUR billion 23,7 7,5 31,2 4,7 35,9 Exchange rate as of 31 December 2003: 1 USD = 25,654 CZK 1 EUR = 32,405 CZK foreign direct investment in the Czech Republic reached CZK 1,161.8 billion at the end of This is an annual decrease of around CZK 3.7 billion, due mainly to the repurchase of Eurotel shares from a foreign investor and the sale of a foreign-owned share in Český Telecom to portfolio investors, mainly from the United States and the United Kingdom. These transactions had a significant impact on all components of foreign direct investment and caused the share of the transport and telecommunications sector in total foreign direct investment to drop under 6%, compared to 11% the year before. The financial intermediation and insurance sector had the largest proportion of foreign direct investment, at almost 17%. By comparison with the previous year, wholesale and retail trade and repair, which had been the largest recipient of foreign investment, recorded a smaller share. This reflects a trend towards corporate dissolution and mergers and optimisation of the amounts of capital invested in this sector following a period of rapid development, especially in the case of retail chains. It is still true that most direct investment comes to the Czech Republic from the Netherlands and Germany, which account for over 50% of the capital invested. As in the previous year, Austria was the third-largest investor, with a 12% share. The eight largest investor countries also include France, the United States, the United Kingdom, Belgium and Switzerland. EU countries account for 88% of the inflow of investment into the Czech Republic, with the old EU countries representing as much as 85%. The territorial allocation of already existing investments can change due to transfers of investor s company to other country. As for the breakdown by economic sector, there was a rise in investment in manufacturing, which received 42% of the total inflow. The fastest growth rate within the manufacturing sector was recorded by motor vehicle manufacture. By comparison, the share of the services sector dropped to 47%, due mainly to the aforementioned sale of shares in Český Telecom and Eurotel.

7 Foreign direct investment in the Czech Republic as of 31 December by economic activity Metal products 4,6% Other 31,9% Financial intermediation 16,8% Trade and repairs 12,3% Real estate and business activities 9,0% Non-metallic mineral products 5,0% Petroleum, chemical products 5,7% Transport, communication 5,9% Motor vehicles 8,7% Foreign direct investment in the Czech Republic as of 31 December by country Belgium 4,2% Switzerland 2,8% Other 12,4% Netherlands 30,9% United Kingdom 4,2% United States 5,2% France 7,9% Austria 11,8% Germany 20,6%

8 The selected indicators characterising the performance of domestic foreign-owned businesses include sales, number of employees, value added and exports and imports of goods and services. All these indicators grew in 2003, with the exception of value added, which declined by CZK 14 billion in terms of volume compared to This result, along with sales, which recorded only moderate annual growth of CZK 8 billion, was significantly affected by the exclusion of telecommunications companies from direct investment. The rise in manufacturing sales was thus offset by a decrease in services sales. However, the overall trade surplus generated by foreign-owned companies was almost CZK 45 billion, which is a dramatic rise compared to the surplus of CZK 4 billion recorded in This result was influenced above all by dynamic growth in exports in 2003, generated by the manufacturing sector, most notably manufacture of electronics, motor vehicles, plastics and food products. An analysis of the attractiveness of domestic companies to foreign investors by company size shows that the largest volume of direct investment (around 62% of the capital invested) is channelled into large companies with more than 250 employees. 15% of the foreign capital is allocated in medium-sized enterprises with employees, while companies with 50 employees or less and companies reporting no employees account for the remaining 23%. When the overall stock of direct investment in the Czech Republic is taken into consideration, i.e. not only funds invested in registered capital, but also reinvested and loans granted by foreign investors, the share of companies with more than 250 employees rises to 67% of total investment capital. Foreign investors have a dominant influence in most companies. Of the total number of about 3,900 foreign-owned companies, more than 70% are wholly owned by foreign investors and in 21% the share of foreign capital exceeds 50% of registered capital.

9 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries Code Contents Equity capital A1 World DZ Algeria AR Argentina AU Australia AT Austria BH Bahrain BY Belarus BE Belgium BA Bosnia and Herzegovina BR Brazil BG Bulgaria CA Canada KY Cayman Islands CR Costa Rica HR Croatia CY Cyprus DK Denmark EE Estonia FI Finland FR France GE Georgia DE Germany GI Gibraltar GG Guernsey HK Hong Kong HU Hungary CL Chile CN China IN India IR Iran, Islamic Republic of IE Ireland IT Italy KZ Kazakhstan LV Latvia LB Lebanon LI Liechtenstein LT Lithuania LU Luxembourg MT Malta MX Mexico MD Moldova, Republic of MN Mongolia MM Myanmar (Burma) NL Netherlands NG Nigeria NO Norway PE Peru PL Poland PT Portugal RO Romania RU Russian Federation CS Serbia and Montenegro SL Sierra Leone SG Singapore SK Slovakia SI Slovenia ES Spain SE Sweden CH Switzerland TR Turkey

10 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Countries Code Contents Equity capital TM Turkmenistan UA Ukraine AE United Arab Emirates GB United Kingdom US United States UZ Uzbekistan VG Virgin Islands, British

11 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic activities Code Contents Equity capital 9999 TOTAL Mining of coal and lignite; extraction of peat Extraction of crude petroleum and natural gas; service activities incidental to oil and gas 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 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 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 Other service activities Extra-territorial organizations and bodies

12 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic sectors - activities Code NACE Contents Equity capital AGRICULTURE, FORESTRY AND FISHING MINING AND QUARRYING MANUFACTURING Food products Textiles, wearing apparel Leather Wood, publishing and printing Petroleum, chemical, rubber and plastic products Manufacture of other non-metallic mineral 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 ELECTRICITY, GAS AND WATER CONSTRUCTION TOTAL SERVICES TRADE AND REPAIRS HOTELS AND RESTAURANTS TRANSPORTS, COMMUNICATION FINANCIAL INTERMEDIATION REAL ESTATE AND BUSINESS ACTIVITIES OTHER SERVICES Not allocated TOTAL

13 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic zones - countries Code Contents Equity capital A1 TOTAL WORLD E1 EUROPE 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 LI Liechtenstein NO Norway CH Switzerland E2 Other European countries BY Belarus BA Bosnia and Herzegovina BG Bulgaria EE Estonia GI Gibraltar GG Guernsey HR Croatia 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 TR Turkey UA Ukraine CS Serbia and Montenegro E4 AFRICA E5 North Africa countries DZ Algeria E6 Other African countries NG Nigeria SL Sierra Leone E7 AMERICA E8 North American countries CA Canada US United States E9 Central American countries VG Virgin Islands, British KY Cayman Islands CR Costa Rica MX Mexico F1 South American countries AR Argentina BR Brazil CL Chile

14 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic zones - countries Code Contents Equity capital PE Peru F2 ASIA F3 Near and Middle East countries IR Iran, Islamic Republic of F4 Gulf Arabian countries BH Bahrain 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 MN Mongolia MM Myanmar (Burma) SG Singapore TM Turkmenistan UZ Uzbekistan F7 OCEANIA AND POLAR REGIONS AU Australia U2 Euro-zone D2 EU D3 EU D8 Acceding countries A5 EFTA A8 OECD A9 CEE B1 NAFTA D6 Candidate countries

15 2. FDI POSITIONS ABROAD AS OF 31 DECEMBER Economic zones total 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

16 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Countries Code Contents Equity capital A1 World AD Andorra AU Australia AT Austria AZ Azerbaijan BS Bahamas BY Belarus BE Belgium BZ Belize BM Bermuda BG Bulgaria CA Canada KY Cayman Islands HR Croatia CY Cyprus DK Denmark FI Finland FR France DE Germany GI Gibraltar GR Greece GG Guernsey HK Hong Kong HU Hungary CN China IS Iceland IN India ID Indonesia IE Ireland IM Isle of Man IL Israel IT Italy JP Japan JE Jersey JO Jordan KZ Kazakhstan KR Korea, Republic of (South Korea) LI Liechtenstein LU Luxembourg MY Malaysia MT Malta MX Mexico MD Moldova, Republic of MN Mongolia NP Nepal NL Netherlands AN Netherlands Antilles NU Niue NO Norway PA Panama PL Poland PT Portugal RU Russian Federation SM San Marino SA Saudi Arabia CS Serbia and Montenegro SC Seychelles SK Slovakia SI Slovenia ZA South Africa

17 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Countries Code Contents Equity capital ES Spain VC St Vincent and the Grenadines SR Suriname SE Sweden CH Switzerland TW Taiwan, Province of China TN Tunisia TR Turkey TM Turkmenistan UA Ukraine AE United Arab Emirates GB United Kingdom US United States VG Virgin Islands, British

18 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic activities Code Contents Equity capital 9999 TOTAL Agriculture, hunting and related service activities Mining of coal and lignite; extraction of peat Extraction of crude petroleum and natural gas; service activities incidental to oil and gas Mining of uranium and thorium ores 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 Office machinery and computers 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 Air 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 Public administration and defence; compulsory social security Education Health and social work Sewage and refuse disposal, sanitation and similar activities Activities of membership organization n.e.c Recreational, cultural and sporting activities Other service activities Private households with employed persons Undifferentiated goods-producing activities of private households for own use Extra-territorial organizations and bodies

19 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic sectors - activities Code NACE Contents Equity capital AGRICULTURE, FORESTRY AND FISHING MINING AND QUARRYING MANUFACTURING Food products Textiles, wearing apparel Leather Wood, publishing and printing Petroleum, chemical, rubber and plastic products Manufacture of other non-metallic mineral 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 ELECTRICITY, GAS AND WATER CONSTRUCTION TOTAL SERVICES TRADE AND REPAIRS HOTELS AND RESTAURANTS TRANSPORTS, COMMUNICATION FINANCIAL INTERMEDIATION REAL ESTATE AND BUSINESS ACTIVITIES OTHER SERVICES Not allocated TOTAL

20 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries Code Contents Equity capital A1 TOTAL WORLD E1 EUROPE BE Belgium DK Denmark FI Finland FR France IE Ireland IT Italy LU Luxembourg DE Germany NL Netherlands PT Portugal AT Austria GR Greece ES Spain SE Sweden GB United Kingdom IS Iceland LI Liechtenstein NO Norway CH Switzerland E2 Other European countries AD Andorra BY Belarus BG Bulgaria GI Gibraltar GG Guernsey HR Croatia JE Jersey CY Cyprus HU Hungary MT Malta MD Moldova, Republic of IM Isle of Man PL Poland RU Russian Federation SM San Marino SK Slovakia SI Slovenia TR Turkey UA Ukraine CS Serbia and Montenegro E4 AFRICA E5 North Africa countries TN Tunisia E6 Other African countries ZA South Africa SC Seychelles E7 AMERICA E8 North American countries CA Canada US United States E9 Central American countries BS Bahamas BZ Belize BM Bermuda VG Virgin Islands, British KY Cayman Islands MX Mexico AN Netherlands Antilles

21 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries Code Contents Equity capital PA Panama VC St Vincent and the Grenadines F1 South American countries SR Suriname F2 ASIA F3 Near and Middle East countries IL Israel F4 Gulf Arabian countries SA Saudi Arabia AE United Arab Emirates F5 Other Near and Middle East countries AZ Azerbaijan JO Jordan F6 Other Asian countries CN China HK Hong Kong IN India ID Indonesia JP Japan KZ Kazakhstan KR Korea, Republic of (South Korea) MY Malaysia MN Mongolia NP Nepal TW Taiwan, Province of China TM Turkmenistan F7 OCEANIA AND POLAR REGIONS AU Australia NU Niue U2 Euro-zone D2 EU D3 EU D8 Acceding countries A5 EFTA A8 OECD A9 CEE B1 NAFTA D6 Candidate countries

22 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries and activities Code NACE Contents Equity capital A1 TOTAL WORLD E1 EUROPE BE Belgium Mining of coal and lignite; extraction of peat Other mining and quarrying Manufacture of food products and beverages Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Manufacture of chemicals and chemical products Manufacture of rubber and plastic 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 Motor vehicles Manufacture of furniture; manufacturing n.e.c Recycling Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Land transport Supporting and auxiliary transport activities; activities of travel agencies 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 Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities DK Denmark Mining of coal and lignite; extraction of peat Manufacture of food products and beverages Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Manufacture of rubber and plastic products Manufacture of other non-metallic mineral products Manufacture of fabricated metal products, except machinery and equipment Mechanical products Manufacture of furniture; manufacturing n.e.c Construction Wholesale trade Retail trade Land transport Supporting and auxiliary transport activities; activities of travel agencies Post and telecommunications Insurance companies, pension funds Real estate Computer activities Other business activities Sewage and refuse disposal, sanitation and similar activities Other service activities FI Finland Manufacture of other non-metallic mineral products Manufacture of fabricated metal products, except machinery and equipment Construction Wholesale trade

23 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries and activities Code NACE Contents Equity capital 5200 Retail trade Hotels and restaurants Supporting and auxiliary transport activities; activities of travel agencies Real estate Renting of machinery and equipment without operator and of personal and household goods FR France Other mining and quarrying Manufacture of food products and beverages Manufacture of tobacco products Manufacture of textiles 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 chemicals and chemical products Manufacture of rubber and plastic products Manufacture of other non-metallic mineral products Manufacture of fabricated metal products, except machinery and equipment Mechanical products Manufacture of electrical machinery and apparatus n.e.c Manufacture of medical, precision and optical instruments, watches and clocks Motor vehicles Other transport equipment 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 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 Other business activities Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities IE Ireland Manufacture of food products and beverages Manufacture of pulp, paper and paper products Mechanical products Office machinery and computers Manufacture of electrical machinery and apparatus n.e.c Wholesale trade Retail trade Post and telecommunications Real estate Computer activities Research and development Other business activities IT Italy Agriculture, hunting and related service activities Manufacture of food products and beverages Manufacture of textiles Manufacture of wearing apparel; dressing and dyeing of fur Manufacture of wood and of products of wood and cork, except furniture;manuf.of articles of straw and plaiting materials

24 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries and activities Code NACE Contents Equity capital 2100 Manufacture of pulp, paper and paper products Publishing, printing and reproduction of recorded media 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 Motor vehicles Manufacture of furniture; manufacturing n.e.c Electricity, gas, steam and hot water supply Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Land transport Financial intermediation, except insurance and pension funding Real estate Computer activities Research and development Other business activities Recreational, cultural and sporting activities Other service activities LU Luxembourg Mining of coal and lignite; extraction of peat Manufacture of food products and beverages Manufacture of wearing apparel; dressing and dyeing of fur Manufacture of wood and of products of wood and cork, except furniture;manuf.of articles of straw and plaiting materials Publishing, printing and reproduction of recorded media Manufacture of rubber and plastic 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 Manufacture of medical, precision and optical instruments, watches and clocks Motor vehicles Electricity, gas, steam and hot water supply Construction Trade and repair of motor vehicles Wholesale trade Retail trade Hotels and restaurants Air transport Supporting and auxiliary transport activities; activities of travel agencies Post and telecommunications Real estate Computer activities Other business activities Other service activities DE Germany Agriculture, hunting 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

25 3. FDI POSITIONS IN THE CZECH REPUBLIC AS OF 31 DECEMBER Economic zones - countries and activities Code NACE Contents Equity capital 2200 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 Office machinery and computers 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 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 Public administration and defence; compulsory social security Education Health and social work Sewage and refuse disposal, sanitation and similar activities Recreational, cultural and sporting activities Other service activities Undifferentiated goods-producing activities of private households for own use NL Netherlands Agriculture, hunting and related service activities Mining of coal and lignite; extraction of peat Extraction of crude petroleum and natural gas; service activities incidental to oil and gas Other mining and quarrying Manufacture of food products and beverages Manufacture of tobacco products Manufacture of textiles 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