The Czech Republic is one of the fastest growing economies in Europe and the long-term macroeconomic prospects are looking very good. The increased purchasing power and a rising demand for quality products and services makes it an interesting market for expansion.

Innovation hub for Central Europe

The Czech Republic is a regional leader in industrial innovation, and it is also one of the most successful Central European countries in attracting foreign direct investments. The central location in the heart of Europe is an additional interesting asset for market entry. A flexible local business culture and a highly educated workforce are very beneficial for the development of many important industries, such as the automotive sector, advanced engineering, life sciences and ICT. Just as in Sweden, the Czechs have a long-term vision in mind when doing business. However, this sometimes makes companies overly cautious and can slow down the collaboration.

Potential growth for Swedish companies

 The Czech Republic is a real growth hub in a wide range of business areas, such as high-end manufacturing, R&D, outsourcing, and supply chain management. Thanks to a steadily growing purchasing power, the country is often seen as a best cost country where companies can competitively produce and sell their products and services, and at the same time grow their business both locally and regionally. There is already a visible Swedish footprint in the market, with approximately 200 subsidiaries of Swedish companies. We’re convinced, however, that there is still a lot of untapped potential and that more Swedish companies can set up successful business operations in the Czech Republic.

How we can help

Business Sweden’s office is located in Prague. From there we also offer strategic advice and operational support to Swedish companies with business plans in Slovakia.