A recent conference on business and investment opportunities in Africa organized by the Czech Foreign Ministry, focused on innovative forms of investment and modern technologies. Titled “Creative, Innovative and Participative Africa” the event brought together ambassadors and business representatives, underlining Czech interest in establishing new partnerships and projects on the African continent. I spoke to Deputy Foreign Minister Martin Tlapa about the opportunities opening up, the risks involved and what the Czech government is doing to help
Czech companies doing business in high-risk markets will now be able to apply for up to CZK 25 million in funding thanks to a new foreign ministry scheme unveiled on Tuesday. It says the plan is the first of its kind in Central Europe and follows the EU’s shift in focus from foreign aid to investment.
Prime Minister Andrej Babiš is in Davos this week talking to international leaders. On Thursday he met with Brazilian President Jair Bolsonaro and Apple CEO Tim Cook. According the Mr. Babiš there is much potential for Czech companies in what is currently the country’s second largest trading partner in South America.
Czech president Miloš Zeman leaves for an official visit of China on
Saturday. The Czech head of state will be received by his Chinese
counterpart Xi Jinping in Shanghai on Monday.
The Czech delegation, made up of some 70 business representatives and four ministers, including Foreign Minister Tomáš Petříček, will attend China International Import Expo, an international trade fair focused on imports into the world’s most populous state.
Mr. Zeman has visited Beijing in the past and also hosted the Chinese president in Prague.
The company R2G has made what appears to be a record acquisition for a
Czech investor in the United States, iHned.cz reported. R2G has bought
First Quality Nonwovens from the group First Quality Enterprises, which has
factories in the US and China and supplies fabrics for hygiene products, at
a cost of an estimated USD 500,000, the equivalent of almost CZK 11
R2G plans to merge First Quality Nonwovens with the Czech-based Pegas Nonwovens, which it acquired recently, to create PFNonwovens, iHned.cz reported.
The Czech Republic has the chance to increasingly position itself as Japan’s gateway to the European Union after the United Kingdom’s withdrawal from the EU, the Ministry of Trade and Industry suggested following a visit by Japan’s Minister for Economy, Trade and Industry, Hiroshige Seko. Seko met with his Czech counterpart Jiří Havlíček. The car industry, IT, defence, glassmaking, and food products were identified as areas for possible increased cooperation between the countries. Around 250 Japanese companies have already established themselves in the Czech Republic. Britain was previously one of the major gateways for Japanese investment in Europe.
A growing number of Czechs are buying real estate abroad, the Czech News Agency reported on Sunday, citing a study by the real estate company Rellox. Czech clients are buying property mostly in Austria (47 percent), Croatia (20 percent), Italy and Spain. According to the study, they usually invest in studios, but they also buy houses and villas. Most clients, around 65 percent, use their foreign property as a holiday home and rent it out during their absence. Last year, Rellox recorded an 11-percent increase in foreign property investments compared to the previous year.