Czechia

Government Wants to Make Czechia One of the 10 Strongest Economies in Europe

The Czech government has unveiled an ambitious plan to place the country among the top ten European Union nations by gross domestic product (GDP) per capita by 2040. Currently ranked 14th, the Czech Republic aims for significant economic growth through the recently approved Economic Strategy. Key Pillars of the Strategy The strategy, presented by the new Minister of Industry and Trade Lukáš Vlček (STAN), focuses on four main areas: human capital development, strategic infrastructure, high-value industrialization, and enhanced financing options. “This strategy will not be another unfulfilled document,” Vlček assured. The plan emphasizes the importance of education, particularly in STEM fields (science, technology, engineering, and mathematics), which are critical for the country’s future economic growth. The government also seeks to strengthen ties between companies and educational institutions to create innovative study programs that better align with market needs. In terms of infrastructure, the strategy outlines improvements in transport, energy, and digital infrastructure. These upgrades will be coupled with investments in sustainable energy and technological innovation to boost competitiveness and reduce environmental impact. The plan also highlights the need to develop the capital market to improve companies’ access to financing, reducing their reliance on traditional bank loans. “This includes venture capital...

by Prague Morning Oct 11, 2024

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