CzechInvest says more investors are turning to the Czech Republic following Brexit. Karel Kučera, general director of the government-run investment agency, says CzechInvest is currently in negotiations with three companies looking to invest in the country. He declined to disclose the names of these investors. Kučera says CzechInvest wants to attract not only British businesses, but also US and Asian companies, which may want to relocate their European operations from London. The Czech Republic is the fourth largest Asian production hub in Europe, following the UK, Germany and France. Research compiled by KPMG indicates that one-third of UK-based manufacturers is considering relocating. The UK Independent quotes Karen Briggs of KPMG saying that the Czech Republic currently offers a better return on investment than the UK and much lower costs of living. CzechInvest closed investment deals totaling CZK 64bn in 2016 but warns that available sites may dry out in two years.
