News
AmCham CZ: CVUT and GE Aviation: Creating the ecosystem for prosperity
Yesterday, with its research partner GE Aviation in attendance, the Czech Technical University (CVUT) announced an agreement which will put four turboprop engine ground test cells into university labs, as well as provide the university one airplane fitted with a turboprop engine for testing. In the next few weeks, engineers from CVUT and GE will begin their work inside this new, state-of-the-art test cell.
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GE: Engine Czech: This university partnership is set to propel turboprop engineering to new heights
Why Prague? The Czech capital is the place where GE decided to jump into the turboprop engine market in 2008, when it took a bet on a storied but struggling turboprop manufacturer, Walter Engines. Dean of CVUT Engineering Faculty Michael Valasek said that since GE announced its plans to assemble the ATP engine in Prague in 2016, the number of undergraduate students enrolled to study aircraft engine construction at CVUT jumped from one to 15.
The 9th Edition of the Act of the Year has been Launched
The vote for the Act of the Year has started. For the ninth consecutive year, entrepreneurs will decide about the best legal regulation with a positive impact on business. In addition to voting on the best act, this year’s edition of the project will open up a discussion among leading authorities about the development of the Czech legislation governing the business environment. The project is organised by Deloitte, a professional services firm, and its legal office, Ambruz & Dark Deloitte Legal. This year’s edition will be taking place under the auspices of the Czech Chamber of Commerce and the Czech Bar Association.
Czechs will Spend 174 Days Working to Pay Taxes as this Year’s Tax Freedom Day Falls on 23 June
With this year’s date the latest ever recorded, Tax Freedom Day is slipping further away from the start of the year. This year, tax payers in the Czech Republic will spend 174 days working to pay taxes, which is one more day than last year. According to Deloitte, Tax Freedom Day will fall on 23 June 2018. Approximately the same as in the Czech Republic will apply to the Netherlands, Germany and Slovenia. Tax payers will have to spend the most days paying taxes to the government in France and Luxembourg, while the fewest in Romania and Bulgaria.
Inflation eased despite an increase in energy prices
The price level increased significantly at the beginning of the year. Energy prices are partially to blame as distribution fees increased. But other prices joined, as well. Businesses traditionally change price lists at the beginning of the year. They have already factored in their expectations about wage growth, which mainly impacts the core element. Food prices also increased. Headline inflation eased due to statistical base effects as the beginning of 2017 was also marked by a strong price increase. Yet, inflation still remains above the 2% CNB target, where it should remain for the months to come, Komerční banka says.
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.
