Dobrý den or good day! We had another wonderful day full of exciting company visits today.
Dobrý den or good day! We had another wonderful day full of exciting company visits today.
Our first stop was at CzechInvest with information specialist Jana Ondráčková. We got the opportunity to know more about CzechInvest's mission and target audience. To begin the presentation we learned more about the Czech Republic's macroeconomics. One of the most astonishing factors was the 2.7 unemployment rate. Ms. Ondráčková explained that the low unemployment rate signals Czech companies inability to fill open positions. Ms. Ondráčková went on to emphasize the Czech Republic's lack of independence from large countries such as the United States, China, and Germany. The first goal of CzechInvest is to attract Foreign Directed Investments (FDI) to fill job positions. Second, their goal as a government business support measure is to provide their services free of charge to potential companies that would increase their research and development, nanotechnology and advanced material, and electrical engineering and electronics to name a few key industries. CzechInvest wants people around the world to recognize the Czech Republic as a leader in technology. Although the Czech Republic has had a long history with automobiles, they want to become a country for the future. They predict they will be one of the top leaders by 2030.
After a great morning with Ms. Ondráčková, our next visit was with AAA Auto. AAA sold an impressive 84 thousand cars in the last year. What makes them unique is that they are a used car dealership. They gain their resources from buying cars from individuals, companies, and manufacturers. A million cars are sold in the Czech Republic each year with seven hundred thousand of those sales being used cars. With two thousand cars on location, AAA sells half of their inventory every month. This surprised many of us as in the United States dealerships tend to push new cars instead of used cars. Another interesting point made about AAA was their use of data analytics to improve their company. Again, AAA emphasized that the world is changing and that they want to be one of the leaders in their market.
And that wraps up another fun day in Prague! We are all so fortunate to be here and learn more about this emerging world leader. Watch out world here comes Czechia.