Doing Business in the Czech Republic

After the so-called Velvet Revolution in 1989 Czechoslovakia experienced long period of successful economic transformation. The reform process proceeded rapidly with the liberalization of prices, restitutions and the mass privatization through so-called voucher privatization.

Some economists speak about the Czech miracle, especially for the period after the disintegration of Czechoslovakia in 1993.

The period of rapid growth has finished in 1997, when a crisis of balance of payments provoked recession. This revealed an unfinished reform agenda, notably concerning the banking sector where the major banks were still state-owned. Moreover, improvements in the legal framework were necessary, lack of them had enabled the development of  "tunneling".

Since 2000 growth of economy has been restored, though in smaller extent. Due to strong state incentives, the Czech Republic has become the main recipient of FDI per capita in Central Europe.

Nowadays there is a stable business and political climate in the Czech Republic.

Our country also profits from significant comparative advantages: skilled and diligent labourforce, investment to technologies etc. The Czech Republic joined the EU in May 2004.

For more information on doing business in the Czech Republic please see the list of useful links and publications on the following page.

Useful Links and Publications

General Information
Doing Business in the Czech Republic
http://www.doingbusiness.cz/r/ - General information, macroeconomic indicators, useful information for entrepreneurs, analyses, list of firms etc. Also in French version.

Directorate General for Enlargement
http://europa.eu.int/comm/enlargement/communication/index.htm - site on enlargement, profiles of candidate countries, key documents etc.

Institutions
Czech Ministry of Industry and Trade
http://www.mpo.cz/eng/ - Register of commercial activities, statistical findings, Czech legislation, supports on commerce institutions, licensing administration etc. Useful data on business activities incl. legal system

Panorama of Czech Industry
http://www.mpo.cz/EN/Analyzy/Panorama_ceskeho_prumyslu/default.htm - analysis

Czech Ministry of Foreign Affairs
http://www.mzv.cz 

Czech Ministry of Finance
http://www.mfcr.cz/cps/rde/xchg/mfcr/hs.xsl/en.html - general information, key documents, treasury, VAT payers, statistics etc.

Czech National Bank

http://www.cnb.cz/en/index.html - Data on Czech monetary policy, currency, legislation, statistics, financial markets, payment systems etc.

CzechInvest
http://www.czechinvest.org (also available in German and Japanese) - Data on business climate, economic development etc.

Ares -Access to Register of Economic Subjects
http://wwwinfo.mfcr.cz/ares/ares.html.en - Ministry of Finance, searching

Business

EC Tender Opportunities in the Czech Republic
http://www.europa.eu.int/comm/europeaid/tender/index_en.htm 

Geographical Coverage and Access to EIC Network
http://europa.eu.int/comm/enterprise/networks/eic/eic.html 

Statistics

Czech Statistical Office
http://www.czso.cz/eng/redakce.nsf/i/home -Recent data on economic development

Publications

Doing Business in the Czech Republic 2005/2006
Issued by PPAgency in cooperation with Czech Ministry of Industry and Trade, Czech Ministry of Finance, Czech Ministry of Foreign Affairs and other institutions.

Language: English, French, German since 9/2005
Summary:

For more information, please see following websites:
http://www.ppagency.cz/en/db.html
At disposal: EIC Prague, PPAgency

European Union Investment in the Czech Republic
Issued by Phare, 2001
Language: English
Summary:
Description of the Phare programme 1990-2000, general information on Phare, conditions of financial support.
At disposal: EIC Prague

Czech Republic 2002: Invited to the EU
Issued by CERGE, 2003
Summary:
Overview of economic transition, political transformation, macroeconomic and microeconomic development of the Czech Republic and the way of the CR to the European Union.
At disposal: EIC Prague

La République tchéque
Chambre Régionale de Commerce et d'Industrie Champagne-Ardenne, EIC Champagne-Ardenne
Sommaire :
Environment des affaires, comment exporter des marchandises en République tchéque, investir en République tchégue, recruter de la main d´oeuvre, paiement des transactions.
Site de la CRCI :
http://www.champagne-ardenne.cci.fr