SIGMA - Traditional Producer of Pumps

be expected that similar expansion will also take place in and around Olomouc, both regarding the enlargement of the existing centres and the emergence of new ones. ABSL reports that many new investors are showing an interest in the Region. A great potential for investors is based on the workforce recruited from among the graduates of Palacký University in Olomouc, which turns out some 2 000 graduates each year. The number of these graduates, with good foreign language skills, is a very important factor for company service centres seeking new workers. It is estimated that in 2017 this sector will expand by about 16 % in the Olomouc Region. Investors will also appreciate the lower costs in the Region. For example, in comparison with Prague, they will be spending less, not only on rent and utilities, but also on wages. The average annual salary in Olomouc is EUR 11 000, i.e. approximately CZK 296 000. This is about 29 % less than in Prague, where the average annual salary is CZK 415 500 (approx. EUR 15 388). The cost of living in the Olomouc Region is also lower than in the capital. At the same time, good news for those seeking employment in the company service sector is that wages in that segment are above the Olomouc average. For example, job seekers with previous experience in the HR area can earn CZK 384 000 per year, in Accounting CZK 420 000 and in IT helpdesks also CZK 384 000 p.a. A great advantage is the well-developed real estate market in the Region. There are some 77 000 sq. m of offi ce space in the entire Region, with rentals ranging from EUR 8.5 to 9.5/sq. m/month, some 28 % less than in Prague, where the rentals oscillate between EUR 11.00 and 19.5/ sq. m/month. Only about 4 000 sq. m of offi ce space is currently available to rent. By the year 2020, however, 30 000 sq. m more of offi ce space will be added to this. In April 2016, the American Standard & Poor’s fi nancial services company gave Olomouc a positive A/A-1 rating – a prediction of strong potential growth – which is excellent news for future and current investors. To help raise competitiveness, support innovation and stimulate demand for the results of scientifi c and research work and their commercialisation, an institution – the Science and Technology Park – was established at Palacký University in Olomouc (VTP UP). The Park celebrated its 10th anniversary in 2017. Part of the Park is the Technology Transfer Centre, whose task it is to promote the commercialisation of the University’s scientifi c research and to provide patent services. Another workplace is the Technological Centre with laboratories of the Applied Research Centre. There are several projects in the Olomouc Region, whose task it is to support scientifi c research in the Region.

Jesenik – Bílá Opava River – Waterfalls

One such example is BIOMEDREG – Biomedicine for Regional Development and Human Resources (the project is concerned with the biomedical research of tumours and infectious diseases). On the basis of the research results, the Centre develops new medications and outlines individual therapy for patients. (More at www.biomedreg.eu). One of the tasks of the Haná Regional Centre for Biotechnological and Agricultural Research is to transfer advanced plant biotechnologies to enterprises in the Region. As a part of this vast project, new facilities destined for scientifi c research will be built on a surface area of more than 7 000 square metres. (More at www.cr-hana.eu). RCPTM – The Regional Advanced Technology and Materials Centre – supports the start-up of new fi rms using sophisticated technologies and applied physical, optical and chemical research, with a special focus on nanotechnologies.

EDUCATION There are three universities in the Olomouc Region. Palacký University in Olomouc, with an enrolment of 22 000, has eight faculties: Theology, Philosophy, Law, Medicine and Dentistry, Education, Science, Physical Culture and Health Science. The Medical Faculty is linked with the Olomouc University Hospital, one of the ten largest hospitals in the Czech Republic. The remaining two universities are the Moravian University, with 700 students oriented towards Economy and Management, and the College of Logistics, with 900 students focusing on Transport and Logistics.

Doing Business in the Czech Republic

V. Regions SIGMA GROUP spol. s r.o. Postal address: Jana Sigmunda 79 783 49 Lutin Czech Republic Telephone/Fax: +420 585 651 111 +420 585 651 100

• Producer of pumps for thermal and nuclear power

generation (feedwater systems, condensate systems, cooling systems, circulation systems, firefighting water systems) • Preparation of pumping station design (turn-key projects) including operation optimalization • A complex provision of consecutive services (installation and commissioning, maintenance) • Certified according to EN ISO 9001:2008, EN ISO 14001:2007, EN ISO 18001:2007

References: • Czech Republic, Slovakia, Poland, Russia, Kazakhstan, Turkey, Egypt, India, Argentina, Cuba, China, Pakistan