Czech exporters awarded for achievements in building their international footprint
16. 11. 2016 | Source: BusinessInfo.cz
Tedom, Třebíč-headquartered manufacturer of equipment for combined heat and power generation, and Frentech Aerospace, Brno-based supplier of precise mechanical parts to such industries as aerospace industry, microelectronics, medical technology and others, have been the winners of this year’s edition of HSBC International Business Awards.
The competition, organized by HSBC Bank plc – Prague branch, is aimed at supporting leading Czech exporters in their international expansion.
"Exports continues to be one of the key drivers of economic growth in the Czech Republic. Statistical data suggests that exporters are doing well and our forecasts for the nearest future are positive. What will be crucial for the economy to prosper in the mid- and long-term is to making exports sustainably successful in the current environment, shaped by subdued growth in many of Czech Republic’s existing sales markets. That’s why it’s crucial to look for new markets to expand to, both in geographical and product development sense. The winners of this year’s edition of International Business Awards are role models here. They are examples of great Czech companies, providing high-quality, technologically advanced products to buyers from around the world. They’re ambitious, innovative and know how to balance risks and opportunities”, said Michael Hordley, CEO of HSBC bank in Czech Republic.
“By organizing this competition we aim to promote such great companies, hoping that this will inspire other Czech businesses to expand internationally. Over 150 years of experience in supporting cross-border trade and local presence in some of the most promising export destinations, HSBC is well-positioned to help Czech businesses to in exploring new opportunities abroad”, he added.
The results of this year’s edition of HSBC International Business Awards were announced during a gala which took place in the Congress Hall of the Czech National Bank. Awards were granted in two categories: “Emerging Exporter“, designed for companies with a turnover above 800 million CZK a year, which went to Frentech Aerospace, and “International Innovation“, for companies with turnover above 1.5 billion CZK a year, which went to TEDOM.
The victory in the competition is not only about diploma. The winners in both categories will receive support in the form of co-operation with experts from HSBC and other partners of the competition. The awarded business will also participate in www.mapauspechu.cz project by CZECH TOP 100, an association gathering Czech Republic’s most successful companies. TEDOM and Frentech Aerospace will be put together with other seventy Czech successful companies, whose journey to business success will be described by Czech Television, Czech Radio and regional dailies within this project.
HSBC International Business Awards is organized by HSBC and run in close cooperation with Ernst and Young, White and Case, EGAP, Confederation of Industry of the Czech Republic and Czech Top 100 Association. The competition for exporters is organized by HSBC since 2010. Last year's winners were Fermat CZ and Bednar FMT.
Before the gala evening the afternoon round table with the entrepreneurs and the experts of the HSBC Bank and the Czech National Bank was held on the topic of the termination of the foreign exchange interventions. Czech National Bank recently announced the termination of the interventions is planned next year. The aim of the round table was to open the discussion whether and how are Czech exporters ready for this situation. At this moment, Czech koruna´s exchange rate is stable and they are not forced to make greater use of the foreign exchange risk insurance. The CNB´s notice about planned termination of the interventions gives exporters time to prepare for it.
Agata Urbanska-Giner, HSBC Bank economist for Central and Eastern Europe, talked about an international comparison of the economic position of the Czech Republic. Tomáš Holub, director of monetary policy section, introduced monetary policy of CNB and Tomáš Novotný, HSBC Bank – Prague branch, also spoke about the management of foreign exchange risk. The roundtable was concluded by best practice about the effects of exchange rate fluctuations on business from the CFOs Michael Košacký, Doosan Škoda Power, and Jan Brožík, ČEZ.
HSBC Press Release