Inspirational lectures by more than 50 leading Czech investors, investment tips, panel discussions with personalities of the financial scene as well as networking. All this was offered by the Global Investment Summit, which took place on 2.11.2023 in the unique premises of the Martinique Palace in Prague Castle. Highly anticipated, the headliners of legendary investor Mark Mobius have stepped forward. The latter has a long-term focus on emerging markets in particular and therefore currently has the most faith in these markets especially in Asia and has all its invested money outside the US market. This year, in media interviews, he repeatedly highlighted India’s potential with 1.4 billion mainly young people making up the largest part of his portfolio. Other interesting markets include South Korea, South Africa or Taiwan.

Throughout the day, visitors and spectators could enjoy seven main blocks and a series of separate lectures. Participants were able to connect before and throughout the summit via an online networking app from Happenee.

In the first part, selected domestic economists were preoccupied with the current macroeconomic situation, its outlook, possible scenarios and risks, as well as the role played by monetary and fiscal policy in the recovery of the economy and the dampening of inflation.

“In the longer term in the Czech Republic we have to get used to the fact that the numbers from the economy will be worse and so will more or less the whole of Central and Eastern Europe. In fact, countries have lost very cheap natural gas from Russia over the past few months. Companies lose competitiveness because of this and it takes time for business models to change,” stated Michal Skořepa, an economist at Česká spořitelna. Furthermore, progressing deglobalization trends are a major risk, as the Czech Republic as a small open economy is highly dependent on exports. International trade has slowed in recent years and the German economy, with which the Czech economy is strongly intertwined, is also failing.”I am worried about the future of the Czech economy in the coming years. I think we need to build on the 1990s. Liberalisation, deregulation. The economy must not be a subsidy business,” trinity bank chief economist Lukas Kovanda commented on the needs of the domestic economy, noting that German automakers are already beginning to align with China to get their hands on its technologies.  The United States emerged victorious from comparing the European and American economies. Differences are already apparent in nearly every area, including energy, capital markets, or higher education. But deepening economic backwardness between the European Union and the US can also have a negative effect on people’s living standards.

We can see a very strong stimulus package in the United States. But to get to a similar level as there, a well-chosen and functioning energy policy will be key. The business environment, or the level of regulation, is also a matter of course. I can see that people want to live in Europe, but nobody is rushing to do business or make money here,” said Generali chief economist Miroslav Singer, who will present himself as speaker in the first panel discussion on the topic of heading into recession?

The second block focused on investments offered tips for gaining financial independence, the third part was devoted to opportunities in trading, technical and fundamental analysis and risk management in trading.

A detailed programme can be found at www.globalinvestsummit.com/en/program/.

JK