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Foreign investments in Central and Eastern Europe (CEE) Theis Klauberg, bnt attorneys-at-law Investment environment – Economic conditions • Transition process of CEE countries completed • CEE countries have overcome economic crises • Emerging markets with ready excess to western European markets • Steady GDP growth • Skilled labour force • Comparatively low labour costs • Good transport infrastructure • Investment incentives (SEZ, tax exemption etc.) • Business friendly environment Source: eurostat Investment environment: Legal conditions • Bilateral investment agreements between China and many CEE countries • Modern legislation framework (often influenced by EU legislation/Western European legislation e.g. Baltic States) • High level of legal certainty, rule of law, predictability • Business friendly legal environment (e.g. little bureaucracy when setting up a company / acquiring shares) • Anti corruption legislation • No political risks Poland: Acquisition of machinery division • Investor: Chinese company LiuGong Machinery Limited • In 2012 LiuGong acquired the construction machinery division of Polish company Huta Stalowa Wola (HSW) and its distribution subsidiary Dressta • Investment volume approx. US-$ 100 million • Objective of investment is transfer of technology and better access to European markets Hungary: Construction of logistics center • Investor: Huawei Technologies (Shenzhen/Guangdong) • Huawei is currently the largest Chinese investor in Europe with 7000 employees around Europe • In 2012 Huawei signed an agreement with the Hungarian government to set up a new logistics center in Hungary • Investment volume US-$ 1.5 billions Czech Republic: Production of meat products • In 2006 Chinese Shanghai Maling Aquarius entered into a cooperation with Gastro Sunwick Ltd. for the construction of a factory in the Czech Republic • Volume of investment: approx. US-$ 23 million • In 2011 the company has 150-200 employees and produced 3-4 thousand tons of meat in 2010 Latvia: Furniture production • Aim: Establishment of furniture production in Latvia • Investor: Chinese company based in Huzhou/China • 300 Latvian employees / app. 5 Chinese specialists • Locational advantage: • Resources (wood) are locally available • Part of the European Common Market • Special Economic Zone: tax exemptions Legal Services Provided Investors needed legal advice particularly in the following fields of law: – corporate law – labour law – law of contracts – commercial law – real estate – tax law Summary • CEE is an excellent region for foreign investments (cost structure, qualified labour force, geographical location) • CEE countries are open to and are looking for foreign investments • CEE countries have significantly improved their investment environment (infrastructure, SEZs, curbing corruption) • CEE countries provide a stable legal and political environment