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Czechia at the crossroads

The Czech Republic is at an imaginary crossroads and needs a new vision and direction for the next decade to thirty years. Business organizations and initiatives have therefore come together in the largest movement to date to draw attention to the long-neglected problems of the Czech economy, which have caused the country to find itself in a middle-income trap. Examples are slow construction and lagging energy, transport or data infrastructure, unaffordability of housing, quality of education, lack of qualified workforce, excessive administrative burden of business and slow law enforcement. The prosperity of the country and the increase in the standard of living of the population should be ensured by the growth of the added value of Czech products and services. They appeal to the government to remove the obstacles that prevent the country from making strategic investments.

Business organizations, including the Chamber of Commerce, at the conference Czech Republic at the Crossroads – Vision and Strategy for the Next 30 Years, held on Friday, September 1, indicated which key and strategic areas the country must focus on for further development, prosperity and maintaining competitiveness.

The growth of added value should be ensured by investments in energy, transport, data and other technical infrastructure, especially available rental housing, the labor market and initial and further professional education and training, in science, research and innovation with an emphasis on its application to industry and practice. strengthening traditional and building new products and services with high added value based in the Czech Republic, mainly from areas such as the nuclear program, the production of semiconductors, batteries and battery storage, quantum technologies or artificial intelligence.

A new model of public and private resources has to finance these investments. According to entrepreneurs, however, other organizations participating in the formation of the domestic economy should be invited to cooperate in the preparation, acceptance and implementation of investments.

More detailed information can be found HERE.

Business organizations presented the results of the survey at the conference, you can find it in the members’ section under the Surveys and studies tab HERE.

Czech Prime Minister Petr Fiala also spoke at the Czechia at the crossroads conference. The Czech Association for Textile Care was represented at the event by member of the board Nikola Kašparová and executive director Monika Býmová.

Chamber of Commerce of the Czech Republic
Czech Association for Textile Care