The Czech Republic is ranked 18th overall, down four places since the 2010 assessment. The drop reflects a decline in two areas related to the enterprise environment: competition and entrepreneurship. The country is characterized by a rather inclusive economy, led by low income inequality as measured by the Gini coefficient (3rd) and an efficient labour market with a healthy relationship between pay and productivity (4th). In terms of smart growth, the Czech Republic ranks 18th; its enterprise environment attains a performance similar to the European average, with relevant strengths in local competition (7th) and openness to foreign investment (13th). However, government regulations are somewhat burdensome (22nd), and the time and procedures required to start new businesses are still relatively long. Finally, the lack of innovation is one of the Czech Republic’s main weaknesses, as it trails the EU average, especially in terms of patent applications and the availability of the latest technologies (20th). The deterioration of the country’s assessment in education and training over the past four years could undermine efforts to strengthen innovation capacity if it remains unaddressed. The other main area for improvement is environmental sustainability, where it ranks 22nd due to high dependence on non-renewable energy sources, high levels of CO2 emissions per energy use (21st) and a relatively low commitment to international environmental treaties (27th).
Posted on: Wed, 13 Aug 2014 05:50:59 +0000
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