In total, 84 foreign companies received investment incentives from the Czech government in the first six months of this year, Industry and Trade Minister Jan Mládek told reporters on Wednesday. Up to 10,000 new jobs should be created in the Czech Republic as a result, according to Mr Mládek. The ministry also provided incentives to 54 domestic companies which should create another 4,000 jobs. Minister Mládek also noted the Czech Republic would continue developing its nuclear energy sector, a plant that will be reflected in the country’s new national energy strategy to be revealed by the end of the year.
The Czech Republic is the second worst country in the EU in which to start up a business, according to a report by the World Economics Form. A survey among local entrepreneurs indicates that the process of setting up a business is bureaucratic and time consuming. Respondents also noted the difficulties of acquiring start-up loans. Only 15 percent of Czechs have moved to establish their own private business, which is the lowest number in the EU.
The Brno-based travel agency Monmare has announced it has gone out of business and declared bankruptcy. It is the second major Czech travel agency to crash so far this year. The company said that low prices on the travel market meant that it could not cover its costs and continue. The agency said it has 86 Czech tourists abroad at the moment, most in Bulgaria but some in Turkey. They will not apparently be forced to cut short their holidays and special measures to get them home will not be required.
The ministries of foreign affairs and trade have signed an agreement on cooperation in assisting Czech exports and promoting the country’s business interests abroad. The ministries have set up a new system of cooperation which includes the establishment of a Client Centre for exporters and investors and a network coordinating the business-related activities of Czech embassies and Czech Trade offices located abroad. The Foreign Ministry’s Diplomatic Academy and the Export Academy of Czech Trade will also provide special training programs in economic diplomacy.
The Czech Republic is preparing for a fundamental shift in its energy policy, Hospodářské noviny reported on Tuesday. Quoting the latest version of the official long-term state energy plan, the business daily says the country is set to make a switch from being a state that exports power to one that imports it.
US Internet giant Amazon has given up plans to build a distribution centre in a Brno industrial zone and is looking for other locality in Central and Eastern Europe, Amazon´s spokesman for the Czech Republic Karel Taschner has told the Czech News Agency. Amazon was promising investment of almost 3 billion crowns and creation of 1,500 jobs in Brno. Locals, however, expressed concern over increased road traffic which they consider to be beyond tenable already. The Amazon spokesman for the Czech Republic made clear that Amazon was still open to looking for further opportunities in the Czech Republic, given European market growth. One project is going ahead: the construction of Amazon´s distribution centre in Dobroviz near Prague, set to begin in the near future.
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