Czech foreign trade: surplus of 9 billion crowns in March. Government approves Hyundai investment agreement. Skodaexport almost certain to land biggest foreign contract in the country's history. Poll: Number of Czechs in favour of euro on the decline. Czech crown reaches new record against euro. Ever more singles applying for mortgage.
Czech foreign trade: surplus of 9 billion crowns in March
Government approves Hyundai investment agreement
The cabinet has approved a proposed contract with Hyundai. The South Korean car manufacturer intends to invest up to one billion euros in a new car plant in the Moravian town of Nosovice. In the draft agreement, the state binds itself to support the plant's construction with a 2.4 billion crown donation between 2007 and 2013. The state also offers an investment incentive of up to 2.5 billion crowns to create work places and upgrade skills of the work force. Hyundai can also expect tax leverage of up to 1.3 billion crowns. The Trade and Industry Minister Milan Urban will sign the agreement in Seoul this month, once it is approved by Hyundai's board of directors.
Skodaexport almost certain to land biggest foreign contract in the country's history
The Czech company Skodaexport is almost certain to land a contract that would be the biggest project in the country's history outside its borders, the Czech business paper Hospodarske Noviny writes. The state-owned engineering company is the favourite in a tender to build a power plant in India. The company had already been chosen for the 480 million dollar project when one of the other contenders appealed the decision. If Skodaexport lands the deal, it will try to involve as many Czech suppliers as possible in the project, its General Director Jaroslav Hubacek says.
Poll: Number of Czechs in favour of euro on the decline
Czech crown reaches new record against euro
The Czech crown reached its highest ever level against the euro on Thursday, at 28.19 crowns. Analysts said the increase was linked to a rise in all Central European currencies.