Approximately 90 percent of Czech companies plan to invest in modernization
and expansion, according to a survey of over 12,000 companies conducted by
the European Investment Bank.
The Czech figure, which is just one percent lower than last year, is still above the EU average of 87 percent, according to the bank’s deputy president Vazil Hudák.
The Czech companies surveyed said their investment plans were complicated by a lack of skilled workers and excessive regulation of the labour market.
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.
Due to the chronic labour shortage, Czech economic growth will slow to 3.6
percent this year and to 3.3 percent in 2019, the Czech Chamber of Commerce
says in a new forecast.
The prediction is based on data from the retail bank Česká spořitelna and the chamber’s own surveys.
By June 2019 there could be half a million unfilled positions, about 60,000 more than today, according to the chamber, which has been lobbying the government to double the annual quota for workers from Ukraine to 40,000 to help fill the gap.
As the United Arab Emirates continue to lower their country’s economic dependency on oil, new opportunities are on the rise. Czech companies, for whom the UAE are the biggest trading partner in the Persian Gulf, see the upcoming EXPO 2020, a Universal Exposition to be held in Dubai in two years’ time, as a great opportunity to extend trade relations. This week saw a special trade mission, made up of Czech companies, travel to the UAE and explore prospective business deals.
The Czech Outdoor advertising agency has promised to remove all its
roadside billboards by the end of September, according to Transport
Ministry spokesman Jakub Stadler.
This is in line with a 2017 law which bans advertisement billboards within 250 meters from main roads and highways for safety reasons.
The legislation met with strong opposition from outdoor advertising operators some of whom attempted to bypass it by replacing advertisements with gigantic Czech flags and other non-commercial posters.
According to the ministry close to a thousand billboards still have to be dismantled.
Czechs spent 51.5 billion crowns in e-shops in the first half of the year,
11 per cent more in annual terms. Growth slowed during hot weather, which
came to the Czech Republic in April.
Overall spending is expected to rise, as since last year the Czech Republic has the largest number of e-shops in Europe per capita, while brick and mortar stores increasingly offer goods online. In 2017 e-shop sales grew 18 per cent to 115 billion.
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