Czech Prime Minister Andrej Babiš launched a bilateral Czech-Moroccan Business Forum in the city of Casablanca on Wednesday. In his speech, Mr. Babiš said that Morocco could become the Czech Republic’s largest trading partner on the African continent and that the two countries are currently discussing cooperation in the automobile, aircraft and armaments industries.
It is generally still easier in the Czech Republic than elsewhere in the EU to hide crucial parts of corporate structures – including the ultimate beneficial owners of a business – from public scrutiny. While registering a business in a non-transparent tax haven is one way for owners to hide their identities, a growing number are taking a more brazen route: paying so-called “white horses” – often homeless people – to act as frontmen.
Andrej Babiš and his ministers are promising to introduce a so-called “national investment plan”, which will summarize countrywide infrastructure improvement needs as well as the schedule when they will be carried out. While detailed numbers are yet to be released, the prime minister has said that the 17 000 projects envisaged in the plan are to cost CZK 3.45 trillion.
E-sales on Black Friday reached a record 4.2 billion crowns, according to
the Association for Electronic Sales. This amounts to a 19 percent increase
On Friday E-shops saw a 300 percent increase in sales as compared to regular days. The annual sales event was so successful this year that Alza decided to stretch it to a fortnight. An increasing number of Czechs have got used to buying Christmas gifts online.
The Carlsbad based Jan Becher company, which produces the iconic Czech liquor known as ‘Becherovka’, has announced record export numbers for the fiscal year between July 2017 – July 2018, with eight percent growth. In a press release on Wednesday, the company said it intends to focus more on exports to western countries in the future.
On a three-day business-oriented visit to China, Czech President Miloš Zeman personally promoted Czech products at the China International Import Expo fair, slammed protectionist measures by the US and called on entrepreneurs to show courage in winning new trade deals. Meanwhile, Czech Foreign Minister Tomáš Petříček opened a new chapter in Czech-Chinese dialogue: human rights issues.
Foreign Minister Tomáš Petříček has said he wants to help Czech
exporters find new markets outside of the EU, on which they are now largely
Following talks with the Czech Chamber of Commerce and the Ministry of Industry and Trade, Minister Petříček said he would push for better coordination in helping Czech exporters. The Czech foreign minister said that next year he hopes to visit Latin America and Africa with this goal in mind.
The ministry is also planning to employ export specialists who will work with Czech exporters in helping to expand their scope.
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.
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