Doing Business In - International Franchise Association

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Ministry of Defense, Czech Republic Phone: +420 973 201 111 E-mail: posta@army.cz Web: www.army.cz US Commercial Service Ms Luda Taylor, Commercial Specialist US Embassy Prague Trziste 15, Prague 1 Tel.: +420 257 022 310 Email: luda.taylor@mail.doc.gov Additional Publications: Internal security issues (crime, developments in individual kinds of crime and security risks) are covered in the report “Security Situation in the Czech Republic” written by Czech Ministry of the Interior. A comprehensive overview of all external security issues is covered in the report “Security Strategy of the Czech Republic” which was produced by the Ministry of Foreign Affairs and adopted by the Czech Government on February 10, 2004. As the Czech Republic is an EU accession country, it must consult on all external security issues with the European Union and comply with the “Common European Security and Defense Policy” that defines external action through the development of a military crisis management capability as well as a civilian one.
Financial Services (FNS) Overview Return to top In billion USD 2007 2008 2009 est. Pension Funds 8.8 10.1 11 Insurance Market 7.0 7.4 7.7 Source: Czech Insurance Association, Association of Pension Funds of the Czech Republic, CS Prague unofficial estimates Czech banks have so far managed the banking crisis as one of the strongest financial sectors in Europe. The primary reason is a lower ratio of customer loans to customer deposits, the high propensity of Czech consumers to save and the careful approach of Czech banks to lending. The Czech financial sector is extremely conservative compared with international benchmarks. Czechs have a very low debt level, almost a fifth compared to the UK. Higher deposits make local banks less dependent on other sources of financing. Czech banks focus primarily on classic retail banking (loans and deposits) and are much less involved in investment banking common in the US. There are 38 banks operating in the Czech Republic, 31 of them are foreign-owned. The market is dominated by a small number of foreign (primarily European) banks, including CSOB (KBC, Belgium), Ceska Sporitelna – CS (Erste Bank, Austria), Komercni banka – KB (Société Générale, France), and UniCredit Bank (Unicredit Group, Italy), which generate the majority of the profit in the banking sector. The market is fairly open and looks increasingly like that in other EU countries. Best Products/Services Return to top • Retail banking – deposit products, internet banking • Private banking • Mortgages • Private pension funds • Insurance Opportunities Return to top • Despite contraction in major industries, Czech banks have actually increased earnings in 2009. Czech banks net profit increased by 9% in the first three quarters of 2009, to US$2.2bn. Although more difficulties are expected in 2010, as the share of unpaid loans will rise, banks are expected to cope well with the situation. Banks have introduced new deposit products, especially long-term deposits to attract new clients. Internet banking has become very popular and
Page 1 and 2: Doing Business in the Czech Republi
Page 3 and 4: table for conversion to the euro ha
Page 5 and 6: Return to table of contents Chapter
Page 7 and 8: Key Link: http://www.ombudsman.euro
Page 9 and 10: lack of U.S. firms present, so U.S.
Page 11 and 12: Key Link: http://ec.europa.eu/inter
Page 13 and 14: sales. The cadre of agents has expa
Page 15 and 16: eceptions at industry trade shows i
Page 17 and 18: http://www.efsa.europa.eu/EFSA/Scie
Page 19 and 20: Key link: http://ec.europa.eu/consu
Page 21 and 22: Copyright The EU’s legislative fr
Page 23 and 24: design. Amendments to the trademark
Page 25 and 26: Provisions of Nutritional Labeling:
Page 29 and 30: Resources Return to top Updated inf
Page 31 and 32: Automotive Parts and Equipment (APS
Page 33 and 34: Electronic Components (ELC) Overvie
Page 35 and 36: Medical Equipment (MED) Overview Re
Page 37 and 38: Telecommunications Eq. (TEL) Overvi
Page 39 and 40: Center for e-Commerce www.e-commerc
Page 41 and 42: • Project financing comes from va
Page 43: • Metal detectors • Monitoring
Page 47 and 48: Association of Czech Building Savin
Page 49 and 50: There is room for growth in the fas
Page 51 and 52: Contacts: Hana Obrusnikova, Senior
Page 53 and 54: Republic, the number of Czech stude
Page 55 and 56: Contacts: U.S. Commercial Service M
Page 57 and 58: Fish and crustaceans (HTS Number: 0
Page 59 and 60: For information on existing trade b
Page 61 and 62: • 20 days from the date on which
Page 63 and 64: Since May 1, 2007, with the impleme
Page 65 and 66: Customs Regulations and Contact Inf
Page 67 and 68: Contact Information at national cus
Page 69 and 70: technical committee whereas CENELEC
Page 71 and 72: standards-legislation/list-referenc
Page 73 and 74: http://ec.europa.eu/taxation_custom
Page 75 and 76: The European Union Eco-Label: http:
Page 77 and 78: property rights violations at open-
Page 79 and 80: investors from different countries,
Page 81 and 82: particularly those related to bankr
Page 83 and 84: made ex-parte search more accurate,
Page 85 and 86: oth representatives of the governme
Page 87 and 88: Labor Return to top The wide availa
Page 89 and 90: GE Aviation 7.8 JNJ Global Business
Page 93 and 94: • Local bond offerings (for munic
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Return to table of contents Chapter
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• Czech Embassy in Washington (ht
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Czech Holidays January 1 New Year's
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Constans Bretislavova 309, 118 00 P
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Citibank Contact: Kenneth E. Quinn,
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Daniel Mališ & Partners Contact: M
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HORREN s.r.o. Contact: Jaroslav Hor
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CzechInvest Main Office Mrs. Alexan
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