Prague
Main Europe Office
Václavské námìstí 19, 110 00 Praha 1, Czech Republic
V (420) - 234-656-140
F (420) - 234-656-138

Our Prague office opened in 2005 to support our growing support for manufacturing, mining, metal production, and oil & gas industries in Eastern Europe, Russia, and the Middle East. Technifind has worked with many top manufactures to expand their manufacturing and R&D efforts in the Czech Republic, Romania, Poland, Hungary, Estonia, Latvia, Ukraine, and Russia. In addition, we have worked extensively with top mining and metals producers to find top leadership for plants and mills throughout Eastern Europe and Russia as well. Our Prague office also provides support for technology based companies in Turkey and Israel as well as manufacturing, technology and service support for customers in Dubai, Abu Dhabi, and elsewhere in the Middle East.

Snapshot of EMEA and Russian markets

EMEA markets are currently some of the most difficult and underdeveloped markets in the world. Current economic problems throughout the Eurozone have made it difficult for the economies in Eastern Europe to battle systemic problems in unemployment and inflation. Riots in neighboring Western European neighbors combined with a growing uncertainty to the stability of the Euro as a currency has created an environment of uncertainty that has made foreign investment in the region sluggish. That being said, Eastern Europe still has a well-trained engineering and technical workforce and the opportunity to grow top notch R&D centers throughout the region. Looking forward, Eastern Europe stands to benefit from current reform efforts which include improvements to wage increases related to productivity gains, as well as improvements in the financial sector which should hopefully improve credit conditions for smaller and medium sized businesses.

Similarly, Middle Eastern economies have continued to struggle in recent months for different reasons. While the financial outlook in the Middle East is much stronger, instability throughout the region creates an environment that makes it difficult for foreign investment. Recent riots and conflicts in places like Egypt, Libya, and Yemen as well as continued resistance from Iran and persistent threats against Israel create a difficult business climate throughout the Middle East. Still technology based companies in Israel are among the world's best, and strong industrial and banking sectors in Turkey, UAE, and Egypt provide good opportunities for growth outside of the Pacific Rim.

Russia is a unique market that remains somewhat insulated from the problems surrounding its neighbors. Russia remains a highly sought after emerging market with one of its major strengths being a vast supply of natural resources. As a result Russia is a top energy producer for the region which can be problematic when Russia has chosen to flex its political agenda by leveraging the regions energy dependence on Russia. Russia's main obstacles are still relatively high inflation between 7 and 8% (although this is much lower than historic levels of greater than 100%), and very high levels of perceived corruption for an industrialized nation. (Russia ranks 154 out of 178 countries assessed in 2010.) Russia's problems are offset by what has been one of the most stable economies throughout the global recession as well as one of the best developed technology, aerospace and defense sectors in the world.

Sources: IMF, European Commission, Eurostat, OECD. *Projected **Goods and Services