South Moravia and Brno: A competitive region for investors
The South Moravian Region dominated by the Brno agglomeration is one of the oldest industrial centres in the Czech Republic with high economic potential, achieving a gross regional product per capita slightly below the national average. Both industry and farming maintain their importance in the South Moravian Region. Lesser businesses are getting more successful in machinery, but the service sector is growing stronger as well.
Recently, the number of businesses in computer technology, telecommunications, software development and other hi-tech fields has been increasing significantly in the region. Brno city attains the second highest placement of direct foreign investment in the Czech Republic. The most important municipal development project, the Brno Industrial Zone, Černovická Terrace, has already become home to outstanding companies such as Honeywell or Bosch Rexroth. A further project involving placement of direct foreign investment is the Czech Technological Park in Brno. Together with an outstanding level of education, the South Moravian Region has a strong base for further enhancement of its competitiveness.
The importance of agriculture for the economy of the Czech Republic is declining. However, it still remains a significant part of the regional economies. Agricultural land makes up more than half of the South Moravian Region, and the major part is arable. A particular speciality of South Moravia is winegrowing of a European standard, with more than 90% of the area of vineyards in the Czech Republic being found in the region. There are many small wine producers and wine cellars in the region. The cultivation of fruit and vegetables also has a strong tradition here. The north of the region is an important area for forestry and timber production.