The Czech authorities
have attracted European funds
with a value of 700 billion crowns in the period between 2007 and 2013. However, the local authorities are aware of the fact that the country can attract even more funding
provided by the European Union (EU) and, in this sense, they are trying to implement new strategies for the regional funding programs
. Our team of Czech lawyers
can provide foreign investors with more details related to legislation applicable for EU funding programs
EU funding in Czech Republic
Although the level of EU funding in Czech Republic met several issues over the above mentioned period, the programs that were carried out in this country accounted for 700 billion crowns, which represented at that time a larger sum than the funding received by other similar countries, such as Romania or Hungary. Moreover, the Czech programs had a total value which was twice as higher as in the case of Slovakia.
Although many of the issues were related to the communication held at an institutional level, at the moment, the Czech funding market seems to improve. In this sense, a representative of the Czech branch established by Transparency International mentioned that, at the moment, the country experiences more openness on this matter and that the overall situation of the regional programs is also improving.
Czech funding programs
The Czech environment
was recently restructured in order to provide better access to the EU funds
for those who manage a company in Czech Republic
. If in the past Czech Republic
was organised on eight regional programs
, at the moment, there is only one, which can establish better conditions in terms of control, audit and other aspects. It is important to know that the current scheme started to provide positive results, as the communication between the supervisory authorities is much clearer in this new framework.