Czech Business Today

Flash news

• Composition of the new European Commission announced. Jozef Síkela the new Commissioner for International Partnerships

  Ursula von der Leyen presented the composition of the new European Commission, which includes 16 men and 11 women, with four women among the six Executive Vice-Presidents. Czech Commissioner Jozef Síkela takes on the portfolio of International Partnerships, where he will manage the largest budget in the history of Czech Commissioners. Síkela will be in charge of European international cooperation and development policy, including the EU’s Global Gateway investment initiative, which plans to invest up to €300 billion in infrastructure in emerging countries. “We’ve been given a strong economic portfolio, which is good news for the Czech Republic,” commented Prime Minister Petr Fiala. Prosperity, security and democracy are key priorities of the new commission.

  Source: denikn.cz

• New pan-European digital platform for SME financing managed from the Czechia

  The National Recovery Plan (NRP) is launching a unique pan-European digital platform to make it easier for small and medium-sized enterprises (SMEs) to access finance for their digital and green transition. The project, led by the Czech Technical University in Prague (ČVUT) and supported by the European Blockchain Infrastructure (EBSI), involves the collaboration of five universities and ten partner companies from several European countries. The platform will allow SMEs to issue bonds and raise capital, while investors will have easy access to transparent and secure investment opportunities. To date, more than 210 companies have already expressed interest in joining the trial. Minister of Industry and Trade Jozef Síkela stressed that the project will bring new opportunities and reduce the cost of issuing bonds. The platform is expected to be fully operational by the end of 2025.

  Source: mpo.cz

• ČEZ Inc. to establish strategic cooperation with Rolls-Royce SMR for the construction of small modular reactors

  ČEZ Inc. plans to cooperate with the British company Rolls-Royce SMR on the development and construction of small modular reactors (SMR) in the Czech Republic. This move will support the modernization of the Czech energy sector, strengthen energy security and open up new opportunities for domestic industry. The first reactor should be built near Temelín in the first half of the 2030s, before the planned completion of the new large nuclear unit. SMR technology has the potential to replace coal-fired power plants, supplying both electricity and heat and making a significant contribution to the decarbonization of the energy sector. Thanks to this cooperation, Czech industry has a unique opportunity to become part of the global supply chain and participate in the development and production of these innovative devices.

  Source: mpo.cz