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AmCham Board of Directors’ Assessment of the Economic Impact of Covid19 - October
This assessment is intended to assist members in their short and long-term planning by providing the outcome of discussions among board members. The board has been holding regular assessment sessions to share and discuss the impact within their industry and among their clients, customers and partners. These exchanges have been informed by research and input from our committees. This document is a working document which will be updated regularly, and all comments and suggestions are welcome. The document is divided into five sections: 1) duration of the crisis, 2) economic impact, 3) transformative effect, 4) effectiveness of government measures, and 5) business priorities.
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Covid-19 trend statistics - regular update
AmCham brings an overview of data published by the Czech Ministry of Health, Institute of Health Information and Statistics of the Czech Republic (UZIS) and The European Centre for Disease Prevention and Control to show the Covid-19 development in the Czech Republic, Europe and the world.
What implications will the abolition of the Czech real estate acquisition tax have for real estate and corporate transactions and financing?
Enacted in September 2020, Act No. 386/2020 Coll. abolished the Czech real estate acquisition tax with retroactive effect (dating back to ownership titles registered in December 2019). The effects that this measure will have on the local residential market are evident and have been addressed in a number of commentaries. However, the potential effects of the tax change on business transactions, whether in the wholesale real estate market or otherwise, have largely been ignored . We will take a first quick look at them in this commentary.
AmCham 2020 General Assembly: Debating the key questions facing your business and the Czech economy - Residential Real Estate
As part of our general assembly series of key issues of the pandemic, the Real Estate Council discussed what is happening in the residential market.
The economy recovered significantly but unfortunately only temporarily
According to the CZSO's preliminary estimate published today, the Czech economy strongly rebounded in 3Q. Domestic GDP grew 6.2% qoq, and its yoy decline thus slowed to 5.8%. Compared with market expectations, this was a slightly better result, as the analysts expected GDP to rise 5.0% qoq on average. The economy also performed better compared with our forecast, which expected 5.3% qoq growth. The Czech National Bank was much more pessimistic, as it predicted an increase in economic activity of only 2.8% in its latest forecast.
Strategic Directions for Czech Economic Policy
- Transition to High-Tech Manufacturing and Exports
- The City Campus as Idea Factory
- Government Programs and Processes That Drive Innovation
- Government as a Competitive Advantage, including Digitization
Advocacy Priorities for 2023
Technology, People, Infrastructure
Actions Recommended in Areas:
1. Establishing Policy Objectives for Research.
2. Research Investment and Cooperation. Big Bets (Key Technology Projects).
3. Establishing Databases for Tracking Public Policy Outcomes.
4. Public Procurement as an Innovation Tool.
5. Immigration of STEM Talents.
6. Digitization of Immigration.
7. Adult Reskilling and Upskilling.
8. Digitization of Land Use.
9. Infrastructure Development, including Technology Parks.
Read the documents in English and Czech.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
