24th April 2017

Seznam Zprávy: Vice PM for R&D Bělobrádek: Attracting investors into regions with high unemployment rate does not work

Czech industry generates over 37% of Czech GDP, the highest share in the EU and OECD, compared with 23% share of German industry on German GDP, for example. The problem is the structure of manufacturing and the number of people working in the sector. "We need small and mediuim sized businesses (that cannot afford high investments to become more innovative or cut employee wages to become more competitive) to increase their value added and be in high-tech", Pavel Bělobrádek, Czech Vice PM for Research, Development and Innovation says in an interview for Seznam Zpravy. 

"I understand that CzechInvest tries to attract investors into regions with high unemployment rate, but it apparently does not work," he says later adding that we need companies, including SMEs, who are able to enter these regions on their own and start a business. 

In three years, the volume of EU funding allocated for Czech research, development and innovations will drop from the current level, possibly by 11 to 15bn CZK according to some estimates. None of the R&D institutions funded nowadays should get less funding, but those who will get more funds, will have to show better results and performance compared to the current situation, Vice PM Bělobrádek says. 

Members of the American Chamber of Commerce in the Czech Republic