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Czech Republic

Ceska SporitelnaJack Stack, CEO
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1. What makes your country attractive to investors?

EU membership; an educated, ambitious and relatively inexpensive workforce; location in the centre of Europe; good macroeconomic conditions; and a responsive government for foreign direct investors.

2. What are the economic prospects for your country over the next three to five years?

Gross national product (GNP) growth forecast at 4%-5% annually; low inflation; low interest rates; decreasing unemployment; decreasing corporate tax rates; and euro membership in 2010 or shortly thereafter. The Czech Republic has excellent prospects, as does most of central Europe.

3. How do you foresee the financial sector in your country changing?

Over the past five years, the financial sector has gone from near-bankruptcy to providing products and services that are fully competitive with any provider in the EU. The Czech Republic financial sector will become more professional and more competitive.

4. What role will your bank play in your country’s future development?

Ceska Sporitelna and the banking sector in general will support the Czech Republic’s economic expansion and will provide a full range of products and services to the consumer, commercial and government sectors. We want to do this better than any other bank.

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