The Ministry of Industry and Trade (MIT) has been finalizing the Czech National Recovery Plan (NPO) in cooperation with other ministries and the Government. The Recovery Plan represents a generational opportunity to use public funds not only to modernize infrastructure, but perhaps the last great opportunity to use EU money to accelerate the Czech economy into the top rank of global innovative economies.
"European money should help us start and modernize the economy after the coronavirus pandemic, but not only that. According to the latest information, we could receive about CZK 172 billion," says Deputy PM and Minister of Industry and Trade Karel Havlíček. "The support is not only in the context of Covid-19, the Plan also addresses other topics such as digitization, sustainable transport, the green economy, health care, education, construction of day-care centers or homes for the elderly."
AmCham suggested that the EU Recovery represents a rare chance to attract the levels of private research and development necessary to build and sustain an innovative economy. Our letter recommends focusing on expanding the strategic research already existing in the country both in volume and the diversity of research conducted. We also noted that the effort to create a regional institute for oncological research is worth serious consideration.
European Bank for Reconstruction and Development: EBRD to resume investing in Czech Republic following Covid-19 pandemic
- EBRD to invest in Czech Republic again for the first time since 2008
- Czech Republic among countries worst hit by coronavirus crisis in Europe
- EBRD to strengthen economic resilience and stimulate private-sector growth
We appreciate the opportunity to comment on the Czech National Recovery plan. Our comments are based on our chamber’s purpose to support the growth of Czech and American economic relationship and our goal to make the Czech Republic a top ten economy in the EU. We will therefore focus on areas of the recovery plan in which American business can contribute and which will increase the country’s innovative potential (the primary source of economic growth).
Yesterday, the U.S. Chamber of Commerce released annual survey of the jobs, investment, and trade links between the United States and Europe -- The Transatlantic Economy 2021 – in partnership with AmCham EU. This year’s report confirms that the U.S. and Europe remain each other’s most important economic partners despite political turbulence and the COVID-19-induced recession.
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.