PRAGUE (AFP) -- The Czech Republic is prepared to reform its state incentives for incoming investors, the new right wing minister of industry, Martin Riman, said in a newspaper interview.

"We have clearly said that we would replace the incentives offered for investments by a broader incentive in the form of low taxes," Riman said in the interview with the business daily, Hospodarske Noviny.

The current package of tax holidays, low priced land and subsidies for jobs created was put in place at the end of the 1990s and largely used by the previous Social Democrat-led governments.

Firms taking advantage of these incentives have invested about 10 billion dollars (7.9 billion euros) in the Czech Republic over the last eight years, according to the ministry of industry.

"In my opinion, the time for giving state aid to assembly factories is over," Riman added, citing the example of the TPCA (Toyota Peugeot Citroen Automobile) car factory at Kolin, around 60 kilometers (around 40 miles) east of Prague.

"If aid is given from now on, it will concern support for developed technologies," Riman said, adding that he regarded changing the subsidy strategy as "a major priority".

The new Civic Democrat government headed by Prime Minister Mirek Topolanek officially took office on September 4 but is still waiting to win a vote of confidence in the 200-seat lower house of parliament, where right and left wing blocks each command 100-votes.