The Czech Republic has lost its position as the county of choice for German investors looking to invest in the Central and Eastern European region.

A recent survey conducted by the German-Czech Chamber of Industry & Commerce places Estonia at the top of 15 other countries.  Published on Wednesday, the list shows the Czech Republic in second place.  The country had held the number one spot for the preceding three years.  Poland is ranked in third place.

The Czech Republic’s attractiveness to investors is said to be in part due to increased labour costs, alongside a lack of adequately qualified people and a weakness in vocational education. The public procurement system is seen to lack transparency giving rise to concerns about corruption.