Czech Business Today

Flash news

• CEZ secures gas supplies from Algeria

  CEZ has concluded a contract with the Algerian company SONATRACH for gas supplies, which will flow through Tunisia and via an undersea pipeline to Italy and then to the Czech republic. This will cover about two percent of the Czech Republic’s annual gas consumption, which corresponds to the needs of about 100,000 households. CEZ CEO Daniel Beneš described the contract as an important step towards strengthening energy independence. Industry Minister Lukáš Vlček stressed the importance of diversification of suppliers, which increases security of supply. The contract complements the LNG capacity already in use in the Netherlands and a future terminal in Germany, planned for 2027.

  Source: Ministry of Industry and Trade of the Czech Republic

• Czech Republic approves new Economic Strategy to increase competitiveness

  The Czech government has adopted an Economic Strategy with the aim of placing the Czech Republic among the top 10 EU economies in terms of GDP per capita. The document contains over 150 measures, including support for the semiconductor industry and modern technologies. Key areas include chips, clean mobility, energy security and renewable energy development. The Ministry of Industry and Trade plans to open a National Competence Centre for Semiconductors and an Entrepreneur Portal. Investments will be supported by the newly established State Investment and Development Company. Results will be regularly monitored and the strategy adjusted according to current needs.

  Source: Ministry of Industry and Trade of the Czech Republic

   

   

• CEZ and Rolls-Royce SMR join forces to develop small modular reactors

  CEZ has entered into a partnership with the British company Rolls-Royce SMR and acquired a strategic stake in the company, which puts the Czech Republic at the forefront of the development of small modular reactors (SMR). This innovative technology will offer a stable, emission-free source of heat and electricity and will enable the replacement of coal-fired power sources. According to Prime Minister Petr Fiala and Industry Minister Lukáš Vlček, this makes the Czech Republic a major player in nuclear energy, which brings new opportunities for Czech industry. CEZ’s multi-billion CZK investment in Rolls-Royce SMR will ensure the involvement of Czech companies in the global supply chain.

  Source: Ministry of Industry and Trade of the Czech Republic

   

• Czech companies can get full support to test AI innovations

  SMEs in the Czech Republic now have the opportunity to test and adapt AI products for industry with full financial support under the AI-MATTERS project. With a budget of CZK 200 million, co-funded by the National Recovery Plan and the EU Digital Europe programme, Czech technical universities CTU, VUT and VŠB-TUO are collaborating with European partners to develop innovations in manufacturing. AI-MATTERS enables testing in real environments, integration of advanced systems and streamlining processes using AI. The initiative thus increases the competitiveness of the Czech industry and opens the door to European markets.

  Source: Ministry of Industry and Trade of the Czech Republic