6th May 2020

AmCham Board members discussed Prague support for Prague businesses during COVID-19 crisis with City of Prague representatives

During the debate, AmCham suggested that loans within COVID3 program should be guaranteed also by the City of Prague so the risk segments have greater possibility to be granted a loan.Prague should support the companies that are currently operating without major problems and thus are drivers of the economy, to keep them healthy particularly as preventive measure for future. AmCham members appealed on representatives to advocate government for recovery measures to be more predictable and approved in advance, in force for at least 3 months, renewable for another 3 months. AmCham pointed out the best practice from Vienna.

In long-term, AmCham proposes to create a priority list of infrastructure to develop city as a research center and high-end tourist destination;to increase Prague's ability to raise public revenue and make economic development decisions; to reform construction planning system; to invest into current public road, building and other infrastructure projects; to invest into digitization projects for sustainabale businesses in long-term; to support Prague labor market, particarly companies lacking workforce (which had to leave the country due to emergency measures), increasing qualification of unemployed workforce in Prague; to invest into promotional projects of Prague hospitality sector for Czech tourists.

AmCham members also stressed there is an urgent need to regulate AirBNB. AirBNB hosts should follow the same rules and regulations as the hotels or pensions. 

Members of the American Chamber of Commerce in the Czech Republic