Incoming government loses industry minister candidate after conflict of interest allegations

Věslav Michalik of the Mayors and Independents, who was the nominee for the position of minister of industry and trade in the future government led by Petr Fiala, announced on Thursday that he will not be running for the position. The statement came after his foreign business activities in Cyprus were covered in the media in recent days, with some questioning whether he would not be in a conflict of interest.

In his statement, Mr Michalik said that his past business activities in Cyprus were in accordance with the law and that he could solve the potential conflict of interest problem. However, he said that he does not want to burden the new government by possible speculation about his past and will therefore not be running for the ministerial position any more.

No information on who could be his replacement has yet been made public.

Věslav Michalik is a financier and investor whose wealth is estimated to be close to a billion crowns.

Author: Tom McEnchroe