Photo: archive of the Government of the Czech Republic
Mapping of suitable areas and their preparation for strategic investors will be the main task of the new state enterprise State Investment and Development Company. Its creation was approved by the government of Petro Fiala at a meeting on Wednesday 24 January 2024. It also approved a new draft law on the provision of hydrometeorological services and one of four applications for investment incentives. It will return to the other three applications.
The Ministry of Industry and Trade will establish a new, 100% state-owned joint-stock company State Investment and Development Company. The state will invest up to half a billion crowns in the new company. The State Investment and Development Company will be tasked with identifying suitable locations for future strategic investment projects. It will also focus on the revitalisation of brownfields and, in selected areas, will provide comprehensive preparation to a state of basic technical and design readiness for the construction of industrial units. Part of its activities will include seeking consensus with the municipalities and regions concerned in order to eliminate in advance possible problems that those interested in investment may face. This will significantly strengthen the Czech Republic's competitiveness in the cross-border competition for the type of differential investments with higher added value. For more information, see press release of the Ministry of Industry and Trade.
The government also approved draft new law on the provision of the hydrometeorological service. The aim of the Act is to define the hydrometeorological service as a professional service performed in the public interest and to institutionally ensure its functioning primarily for the needs of public administration. The proposal envisages that the Czech Hydrometeorological Institute will be established directly by law and that all rights and obligations will be transferred to this newly established institution and that continuity of personnel with the current Czech Hydrometeorological Institute will be ensured. The proposal also regulates the performance of the hydrometeorological service of the Ministry of Defence and sets rules for the relationship and cooperation between the two institutions. A national database of hydrometeorological data and products is also to be established. For more information, see press release of the Ministry of the Environment.
The government also discussed four applications for investment incentives. It approved the application of Vitesco Technologies Czech Republic, which wants to invest CZK 2.35 billion in expanding the production of hi-tech electronic equipment for the electrification of automotive drivetrains in Ostrava and Frenštát pod Radhoštěm. It has postponed the other three applications and will return to them at a future meeting. The cabinet will also return to discussing a new draft law on lobbying. Read about the approved incentive in press release of the Ministry of Industry and Trade.
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