After 1989, Czechoslovakia began to realize the importance of building a market economy, which was linked to the need for involvement of foreign investors. A major role in attracting foreign capital was played by contract that guaranteed aid for and protection of investments. These contracts are on the one hand a shield against devaluation of investments due to action or non-action of state institutions, but also have a marked impact on the state budget – whether directly or indirectly, which is often forgotten when formulating specific arrangements. Institute of investment incentives is not possible to understand unilaterally, but must take into account not only the positive but also negative effects on state finances. The factor of national debt in the case of investment incentives has clearly been overlooked. Two opinions stand side by side – to support foreign investors to the maximum with all impacts or not to do so. At a time when the Czech Republic finds itself at the beginning of the introduction of necessary economic reforms, one needs to ask this question and reflect on the profitability of foreign investment and its contribution to the state economy and state budget.