The director of CzechInvest, the Czech agency for foreign investment, was fired on Monday following a scandal over what amounted to the privatization of its real estate activities. The organization maintains a database of potential locations for foreign investors to set up shop in around the Czech Republic, but its now former director Miroslav Krizek decided to hold a tender to choose a private company that could take on the task.
The purpose was to save money, but suspicions arose that the terms of the winning company were excessively advantageous, and that only one company was ever going to be awarded the contract. Krizek maintains the idea was correct and that CZK 3.6m in savings could have been achieved over a period of four years.
