Reto Brosi is Managing Director of Megrow Pte Ltd in Singapore and Member of the Risk Committee of the Singapore Institute of Directors.
Spontaneously, what comes in your mind when thinking about the Czech and Slovak Republics?
I visited the Czech Republic a few times, for business and leisure, and was very impressed by the very high quality of services provided and by the economic success story that both countries have created over the recent past. It goes without saying that the beautiful sights and the culinary pleasures added to the positive impressions!
Does your company has any business activities in the Czech and Slovak Republics?
We are headquartered in Singapore and our current activities center around our clients in Asia. However, strategic projects like the “one road one belt initiative” and general expansion plans of Asia-based companies will hopefully create opportunities for Megrow to serve clients in the Czech and Slovak Republics in the future. I can easily imagine that such a service offering could be done jointly with a partner based in the in Czech and Slovak Republics.
What are in your opinion the biggest advantages of the Czech and Slovak Republics as a market place?
It appears that population dynamics is very favorable, recent economic performance has been better than most EU-peers and a privileged geographic position makes the two countries poised as future winners. Furthermore, the side-effects of Brexit might create additional opportunities for businesses.
And the disadvantages?
The domestic markets are comparatively small, i.e. it is adamant to build and attract businesses that have an EU-wide or better even a global perspective.
What should the countries actively foster to become more known in the business world?
Continue an open market policy with regards to immigration and capital flows. Make it as easy as possible to set-up new companies; allow tax incentives for start-ups and similar incentives. Continue efforts in education, especially the areas related to new technologies (“AI”). Participate in international trade fares, hold “investor’s day” type of events in key centres in Asia (for instance Singapore, Hong Kong, Beijing, Seoul, Tokyo); leverage diplomatic channels where possible. Continue investment in domestic infrastructure (5G networks, fiber broadband, high speed railway networks, etc).