Vietnam is one of the main Czech targets for boosting exports outside of Europe. And while current trade flows are overwhelming in favour of the South-East Asian country, Czech companies are hoping for a lot more by filling in some of the many gaps in industrial know-how and equipment and the country’s basic infrastructure.
Representatives of the Ústí region have signed off on a land deal crucial to persuading South Korean based global tyre manufacturer Nexen to set up a new plant in the Czech Republic. Formalities still need to be completed, but what could turn out to be the biggest ever foreign investment in a new plant is already being described as a done deal.
A decision was taken Monday by the Czech government which could pave the way for e-commerce giant Amazon to overturn its original decision and site a second distribution centre on the outskirts of Brno. The government removed a clause banning the use of land being offered to Amazon for warehouses. The clause was inserted more than 10 years ago when the land was transferred from the central to local government and the land use issues were one of the obstacles in the original talks with Amazon. The American company walked away from talks on the Brno site after the city council rejected planning changes needed for the distribution site to go ahead. Since then the council has said it is renewing efforts to win the investment and potential 1,500 jobs.
A new poll released by the Czech discount retail website Skrz.cz, which offers the use of a search engine to trawl for the best deals – has suggested that Czechs trying to save money cut-back most on either clothes or food, opting to knot an older tie or chow down on cheaper food, presumably, rather than knock themselves out at boutique fashion shops or swanky restaurants.
Some 27 percent of Czech save on food, according to a survey by a Czech discount retail website, skrz.cz. Another 19 percent of those polled said they saved on their free-time activities. They poll also found that ways people try to save money in cities differ from those living in the county; while 38 percent of the former said they saved most on food, 28 percent of the later said they instead saved on their free time. Some 20 percent of the people who took part in the survey said they did not save on anything.
The CTP developer firm has renewed efforts to build an distribution centre for the online retailer Amazon, the news agency ČTK reported on Saturday. The firm has again applied for an environmental impact assessment of the project despite the fact that earlier this year, Amazon said it dropped the plans over opposition from Brno’s City Hall. However, councillors approved the project last month. Amazon is planning to invest around 2.7 billion crowns in the distribution centre that should create up to 2,000 new jobs; another such facility should be built in Dobrovíz outside Prague.
Sourcing supplies and manufacturing has got a lot more complicated and fragmented with globalization. In many cases, countries are just partial providers or stops for goods or services before they end up with the final consumer. But appreciation of the more complex creation of wealth and trade flows is only beginning to be pieced together by international and national policy makers.
Hungarian oil refining giant MOL has sealed a deal to become the second biggest petrol retailer in the Czech Republic with the purchase of 125 AGIP filling stations. The value of the purchase from Italian refining company ENI was not revealed. MOL also revealed that it has made an offer to buy out ENI’s almost 33 percent stake in Czech petro-chemical firm Česká Rafinérská. Polish controlled Unipetrol though still has first option to buy that stake.
Czech industrial production moved up a gear in March according to the latest figures from the Czech Statistics Office. Production was 8.7 percent higher than a year earlier compared with the 6.7 percent advance in February. The value of new orders was 16.6 higher in March than a year earlier with most of that demand coming from foreign firms but domestic demand also sharing a substantial slice of the new contracts.
Data published by the Czech Statistics Office indicate that the choice of food imports to the Czech Republic is still directed mainly by price, with retail chains favouring competitive German, Polish and Slovak producers. Higher quality but less affordable Czech products are often left lying on the shelves.
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