This economy will turn from crisis to recovery when enough individual businesspeople have enough confidence to invest and create jobs in the country. That is why AmCham decided to devote this year’s General Assembly to asking a basic question that seems to have been ignored in the long and heated debate over how to rescue the Czech Republic from its third, and most sustained, economic crisis since the Velvet Revolution. The question, in fact, is very simple: What will it take for businesses to switch from saving for bad times to spending for better?
The right people to ask this question are not macroeconomic experts or politicians or media pundits, but business people themselves. Business people are the ones who collectively will decide if they have enough confidence that a crown spent today will turn into a profit in the future. To answer this question, AmCham gathered four individuals who are faced with such decisions daily, and whose decisions could provide a leading indicator of when a recovery will occur: Zbynek Frolik of Linet, Petr Stracar of GE, Martin Jahn of Volkswagen and Frantisek Dostalek of KPMG. What follows is a summary of their discussion:
Czech version of the article is attached or can be downloaded here.
For more information on competitiveness visit our new website www.czechcompete.cz. If you are interested in an audio recording of the discussion or more information about AmCham’s economic development or good governance projects, please contact Veronika Szentivanyiova at email@example.com.
From the left: Frantisek Dostalek of KPMG, Petr Stracar of GE, Martin Jahn of Volkswagen and Zbynek Frolik of Linet.