The most important news from August 7 until August 13 of the year 2004

New entrepreneurs plan to invest in £ód¼
'Management board of £ód¼ Special Economic Zone (£SSE) submitted an application to the Economy Ministry referring to the correction of zone's border', informed Andrzej O¶niecki, the president of £SSE. If the plan is approved by the Ministry, five new companies shall invest in the zone: Ceramika Tub±dzin, Hirsch, Drahtzung, Orsa Moto and Quick Mix. The total value of declared outlays amounts to over PLN 170 million.
If the Economy Ministry approves the concept, it would result in creating 300 new jobs. The largest investor - Ceramika Tub±dzin, ceramic tiles producer, plans to invest PLN 100 million. However the largest number of new jobs will be created by subcontractors of Bosch, namely Hirsch and Drah-tzung, which would employ 100 people each.
Source: Rzeczpospolita
 
 
Real advantages are still before Poland
Only 100 days after EU accession, Poland has become the fourth largest net beneficiary of Brussels' subsidies among the EU member states. Each Euro transferred by Poland to the European Community after 1 May 2004 resulted in receiving 2.5 EUR in assistance to the country. Only Spain, Greece and Portugal receive higher support.
'From 1 May 2004 the National Bank of Poland (NBP) transferred EUR 481 million to the EU budget and at the same time Poland received EUR 1.3 billion. This translates into EUR 757 million of net profit for Poland. Till the end of 2004 the difference between payments and subsidies will definitely increase', assured Silvano Presa from the European Commission. Over the first eight months of membership, Poland will receive EUR 1.8 billion more then it will transfer to the European Union. Next year the net balance will increase to at least EUR 2.9 billion and then only Spain and Greece will receive more support from Brussels.
Since the time the EU has been set up, none of the EU member states has financially benefited so quickly and on such a large scale from the membership, - admitted Daniel Gros, an expert of highly prestigious Brussels Centre for European Policy Studies (CEPS).
Source: Rzeczpospolita
 
 
The companies keep investing
Polish economy has faced considerable growth of investments since the beginning of 2004. The first quarter of the year has shown 3.5% growth pace in comparison to the same period a year earlier. By the end of 2004, the upward trend in investments shall consolidate. This year the pace of investments shall remain on the level of 7.5%. Growth in investments does not, however, mean decrease in unemployment.
"At present, investments in the development of infrastructure prevail, while those aimed at the increase of employment arouse only little interest", says Krzysztof £apiński from the Gdańsk Institute for Market Economy.
Source: Gazeta Prawna
 
 
New states invest
"We are standing at the beginning of a new tremendous trend", say UN economists about transferring FDI's from the developing countries. A share of FDI's from them  amounted in 2003 in Singapur and Hong Kong to 33% and 28% respectively. These figures are much higher than the same share in the developed countries such as USA and Japan where it amounted to 6,6% and 3,2% respectively.
According to UNCTAD, such figures mean that companies from South Korea, Malaysia, Republic of South Africa, Chile are operating in global economy more actively. The companies in question had invested nearly USD 60 billion in the previous year. The largest share of the investments went to Hong Kong with the value amounting USD 23 billion. Chinese companies invested in the same time only USD 3 billion. Because of Chinese restrictions concerning money transferring a lot of Chinese entrepreneurs are investing abroad through the companies registered in Hong Kong.
In accordance to UNCTAD analyses corporations from the developing countries are investing generally in the region of where their main office is registered. The biggest dynamic characterizes Asian companies.
Source: Gazeta Wyborcza