MFA: Strategic opportunities for foreign exporters
The Liechtenstein economy was also significantly affected by the coronavirus pandemic in 2020. GDP decreased by 7.5%. Direct exports of goods by Liechtenstein companies fell by -22.7% in the first half of 2020 compared to the same period in 2019, recovering somewhat to -12% in July and August.
The decline was most noticeable in the mining and quarrying sector and in means of transport. The turnover of 25 selected larger companies fell by almost a fifth in the first half of the year. Industry (-21%), financial and other services (-10% and -13%) were particularly affected
Despite the crisis, Liechtenstein’s three largest banking groups reported an inflow of CHF billion in new money in the first half of the year. In the same period, they managed assets of CHF 338 billion, an increase of 1.4% compared to the same period in 2019.
The reason for the negative inflation rate of -0.67% was primarily lower prices of imported goods. The number of employed persons stagnated in the first half of the year. In 2020, the unemployment rate reached 1.8%. About 17% of employees worked in the “kurzarbeit” regime in mid-2020.
The package of measures approved by the Liechtenstein government to mitigate the economic impact of the pandemic, the so-called Massnahmenpaket 4.0, amounts to a total of CHF 165 million. This package brings additional help to particularly affected small and medium-sized enterprises.
In addition to providing bridging loans to ensure liquidity, it also aims to support the preservation of jobs. The measures include compensation for “kurzarbeit”, support for retailers and a financial contribution for so-called “hard cases”. This is currently valid until the end of June 2021 and is primarily intended for retailers who are not entitled to compensation for “kurzarbeit”.
Post-COVID-19 opportunities
Liechtenstein invests 8.4% of GDP (approx. CHF 450 million) annually in research and development, making it one of the world leaders in this field. This small European country can rightly be called a center for innovation and technological development. The state generously supports the innovation of start-ups and small and medium-sized enterprises.
ICT
Prospective and strategic opportunities for Czech exporters are mainly represented by the financial sector and the IT sector, on the development of which Liechtenstein places great emphasis.
The pandemic crisis has highlighted the importance of digitization. In this area, there will be demand for software, antivirus, intelligent applications and others, e.g. cloud services, e-commerce, web design, e-learning, e-games, etc.
According to allcountrylist, Liechtenstein is a very interesting destination for ambitious FinTech projects. On 01/01/2020, the Blockchain Act came into force, making Liechtenstein the first country in the world to officially use cryptocurrencies. Thanks to its uniqueness in access to cryptocurrencies, it is slowly but surely becoming the most attractive country in the world for emerging projects based on the breakthrough blockchain technology.
Contacts
Subchapters:
- Contacts to Czech embassies in the territory
- Practical telephone numbers (emergency services, police, firefighters, information lines, etc.)
- Important Internet links and contacts
Contacts at the embassies of the Czech Republic in the territory
Embassy of the Czech Republic in the Swiss Confederation and in the Principality of Liechtenstein
Botschaft der Tschechischen Republik
Muristrasse 53
POBox 1304
3000 Bern 16
Schweiz
The entrance to the embassy and the consular department is from Burgernzielweg.
The office is served by tram No. 7 in the direction of Ostring, stop Burgernziel.
Phone: +41-31-3504070
Fax: +41-31-3504098
E-mail: embassy: bern@embassy.mzv.cz
E-mail: consular department: consulate_bern@embassy.mzv.cz
E-mail: commercial and economic section: commerce_bern@mzv.cz
Website
Diplomatic and Consular Service: +41-79-641 33 00 – (only emergency cases during non-working hours)
Working hours: Monday – Friday: 7:45 a.m. – 4:15 p.m.
Honorary Consulate of the Czech Republic Vaduz
Honorarkonsulat der Tschechischen Republik Vaduz
Wuhrstrasse 6
POBox 86
9490 Vaduz
Principality of Liechtenstein
Phone: + 423 – 23 63 600
Fax: + 423 – 23 63 601
E -mail: vaduz@honorary.mzv.cz
Consular jurisdiction: Principality of Liechtenstein
Office hours: Thursday: 09:00 a.m. – 12:00 p.m.
Germany – CzechInvest Düsseldorf Foreign Office – locally responsible for Liechtenstein
E-mail: germany@czechinvest.org
Austria – Czech headquarters of tourism – CzechTourism – also locally relevant for Liechtenstein
E-mail: wien@czechtourism.com
Austria – Czech Center Vienna – Tschechisches Zentrum Wien – locally applicable also for Liechtenstein
E-mail: ccwien@czech.cz
Practical telephone numbers (emergency services, police, firemen, information lines, etc.)
Diplomatic jurisdiction for the Czech Republic is held by the Embassy of Liechtenstein in Vienna
Botschaft des Fürstentums Liechtenstein
Löwelstrasse 8/7
A-1010 Wien
Austria
Ambassador and Head of Office: Maria-Pia Kothbauer (Princess of Liechtenstein)
Phone: +43 1 535 92 11
Fax: +43 1 535 92 114
Email: info@vie.llv.li
Web
Delegation of the EU in Switzerland and Liechtenstein
Delegation der EU für die Schweiz und das Fürstentum Liechtenstein
Christoffelgasse 6
CH-3011 Bern
Switzerland
Ambassador and Head of Delegation: Petros Mavromichalis
Phone: +41 31 310 15 30
E-mail: delegation-bern@eeas.europa. eu
Web
– 112 International emergency number
– 117 Police
– 118 Fire
brigade – 144 Rescue service, ambulance
– 1414 Air rescue service
– REGA helicopter
– Lost or stolen mobile phone: +423 237 74 00
Important web links and contacts
– Liechtensteinische Landesverwaltung (The basic information website of the Liechtenstein administration. Through this page you can access the pages of all ministries, their individual departments, directorates and related agencies and institutions.
– Wirtschaftsstandort Liechtenstein (Information on the economy, services for entrepreneurs, life and work in Liechtenstein)
– Liechtenstein Finance (Information on banks, legal and tax regulations)
– Innovation.Standort Liechtenstein (Information on doing business in Liechtenstein)
– Liechtenstein Center (Official tourist website of Liechtenstein)
–Czech-Lichtenstein Society (A company that takes care of the present and future of friendly relations between the Czech Republic and the Principality of Liechtenstein)
– Liechtenstein Marketing (Lichtenstein marketing website, information about the Principality of Liechtenstein)
