Czech Republic

The influential intellectual heavyweight and former President, Vaclav Havel, may be the first person who springs to mind on mentioning the Czech Republic, while others may associate the country with legendary world class tennis players and the unparalleled success in ice hockey with the country winning five world championships over the last ten years.

The international business community’s perception of the Czech Republic, however, may slightly differ. Granted, the same attributes that influence the abovementioned perceptions, like commitment, competence and competitiveness, are prevalent, but manifest themselves differently.

Increasingly, the Czech Republic, which joined the European Union in 2004, is recognized as the optimal business environment from which to better serve international customers. This is a consequence of several factors the most notable being the sustained enhancements to the business environment by the Czech Government and the ability of the country’s pre-eminent natural resource, intellectual capital, to respond to the needs of knowledge-based and innovation-driven businesses.

Moving forward, the record flows of foreign direct investment, the European dominance in computer production, the complete automotive supply chain, the track record in supporting global ICT operations, the burgeoning growth of Czech suppliers and the shift away from labour-cost-sensitive investments to high value added activities and extensive R&D as integral parts of global networks, are all pillars sustaining the Czech Republic’s growth and underpinning international competitiveness. 

Key Information about the Czech Republic
Area	78,864 km
Population	10.5 million
Labour force	5.7 million
Capital	Prague
Language	Czech
Currency	Czech crown (CZK)
Time zone	GMT +1, daylight saving time GMT +2

For more information visit the official website of the Czech Republic.