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TABLE OF CONTENTS NEWS
INVESTMENTS IN POLAND
ANALYSES AND REPORTS
NEWS
Poland has signed a contract to prepare for Expo 2010 Poland has now signed its agreement with China the organisers of the Expo 2010 World Exhibition, in Shanghai.
The agreement was signed by Mrs Anna Kamińska, the General Commissioner of the Polish Section for the World Exhibition Expo 2010 and Mr Hong Hao, the General Director for the World Exhibition Expo 2010. Present at the ceremony were V.G. Loscartales, Secretary General of the International Bureau for World exhibitions in Paris. The event was particularly well celebrated. Poland belongs to the first ten countries that have hitherto signed their contracts. The document is the formal basis for beginning the work of organising the Exposition. Currently 158 countries and 22 organisations have expressed an interest to take part in the exhibition from around the world. The Expo in Shanghai could very well become the largest event of its kind in history and the organisers expect it to attract 70 million visitors.
Incentives to investors presented in Berlin The Polish Embassy’s Trade and Investment Promotion Section in Germany, in cooperation with the German Business & Trade Chamber (DIHK) in Berlin, has organised for the fourth time in succession an economic conference, this time called the Privatisation process in Poland – an opportunity for German enterprises?
The guests present, welcomed the president of the Business & Trade Chamber (IHK) from Berlin Dr Eric Schweitzer, and the deputy consul of the Polish Embassy Mr Wojciech Pomianowski. Both representatives gave presentations of the general difficulties of Polish-German relations, with an emphasis on the current economic situation. The conference was hosted by Mr Werner Eckel – Director of the International Counter at Commerzbank. The conference gathered 130 participants together, who actively took part in the discussions and exchanged views with the various speakers. This confirms the constant interest from Germany in the development of Polish-German relations. The various viewpoints and experiences exchanged between representatives of the political economy and business, allowed a deeper understanding of the possibilities for investment in Poland among the listeners, and also of the forms for participation in the privatisation process. The first Polish Dell computer is produced On 20th October this year, the first computer produced at Dell’s factory in £ód¼ left the production lines.
The factory which was built at a cost of 200 million EUR, produces electronic notebooks among other items. By January 2008 the employment figure for the £ód¼ plant is expected to reach 1,100 workers. The £ód¼ factory is one of the most up to date factories of its kind across the world. According to the estimates, the demand for its products throughout Europe is to increase by around 14% each year. The director for the Europe and Africa production centre at the Dell Company, Mr Nick Hartery, said that as a result of its Polish investments, the company is “closer to the developing markets and clients”. At the £ód¼ plant, work has been found for 500 people, most of have been attending training courses at the firm’s Limerick plant in Ireland. Dell factories can be found at: Limerick (Ireland); Austin, Nashville and Winston Salem (USA); Penang (Malaysia); Xiamen (China) and Eldorado do Sul (Brazil). The Corporation was established in 1984 by Mr Michael Dell, whilst he was still a university student at Austin in Texas. Across the world the company employs over 70 thousand people and the company’s income over the last 12 months stood at 57.4 billion USD. Source: PAP PAIiIZ has signed a cooperation agreement with the Japanese bank SMBC
On 12th November 2007 in Tokyo, the ceremonial signing took place of a cooperation agreement between Dr Pawe³ Wojciechowski, President of the Polish Information and Foreign Investment Agency (PAIiIZ) and Mr Masayuki Oku, President of the Sumitomo Mitsui Banking Corporation (SMBC).
The agreement provides the possibility of an exchange of information regarding the subject of investing in Poland and a comprehensive service provided by PAIiIZ for clients of the bank interested in investing in our country. The SMBC was established in 1876 and is one of the largest banks in Japan and the South-East Asian region. Their clients are both some of the largest Asian corporations and small and medium sized businesses. The signing of the agreement creates opportunities for the promotion of Poland among Japanese companies, which as a consequence may lead to attracting new investments from the country of the blossoming cherry tree. INVESTMENTS IN POLAND Further investments in the Kostrzyń-S³ubice Special Economic Zone (KSSEZ) In the KSSEZ three further operating permits have been issued. New investments of a total value exceeding 11 million EUR were placed in Nowa Sól and Kostrzyń.
The largest sum, an amount of over 9 million EUR, is to be invested by the German firm Jost, which will produce metal parts for delivery vehicles and is to employ 100 people at Nowa Sól. At Kostrzyń a factory will be built to produce parts for cranes for the German firm Montel, costing app. 0.6 million EUR; 20 people will find work there. The third planned investment is by the Polish-Belgian company Montax, which is to produce aluminium window frames at Kostrzyń, the construction of the plant there will cost 1.8 million EUR. At the end of June of this year investments at the KSSEZ had reached 1.78 billion PLN and within the Zone 11.2 thousand people had been provided with employment. This year within the KSSEZ, 22 work permits for businesses have already been awarded. Source: Puls biznesu/gazeta lubuska 20/11/2007 Two new railway stations to be built in Warsaw On Monday representatives of PKP stated that next year new investors will be chosen to build two new railway stations in Warsaw, whereas the stations themselves will be built by 2012 – it was stated on Monday by a representative of PKP SA.
On Monday an information seminar was held for several investors interested in building the Warsaw East station. Representatives of over a dozen companies attended the meeting. According to Mr Jaros³aw Adwenta, a PKP SA Board member, who said to journalists that the construction firm will be chosen in 2008 and building work should begin in 2009 or 2010. According to Mr Adwent although no specific arrangement had been reached between PKP and the investors, the company would stick to the principle that there would be no sale of any railway property. - This could be a managing entity, it could be a specific company, it could be a form of leasehold – Mr Adwent stated. As PKP previously stated up until 29th February 2008 investors will be able to respond to their invitations. Together with the chosen investor an architectural project will be chosen and then a building contractor will be chosen. The area of land under construction will be approximately 16 ha. Source: PAP MACROECONOMIC POLAND
Source: www.nbp.pl ANALYSES AND REPORTS Pentor recorded an improvement in consumer attitudes In November there was a further improvement of the economic climate in Poland. The economic climate indicators for the country had risen by 6.9% when compared to the previous month - it was stated in Pentor’s report measuring economic performance.
The financial conditions for domestic consumers have grown – the indicator grew by 3.1 points in November. Whereas PENKON – the indicator for the consumption climate reached a value of 10.3 points and is higher by 5 points than the October value. In November, according to Pentor’s report, as many as 74% of Poles viewed the country’s economy positively (optimists, confirmed optimists and satisfied individuals). Whilst 26% were people with negative attitudes towards Poland’s present economic situation (pessimists, those without hope and the frustrated). - 45% of those surveyed believed that next year will bring changes for the better, while 14% expected a worsening of the country’s economic situation. 41% of those surveyed felt that Poland’s economy would not undergo any changes over the coming 12 months – Pentor stated. The survey was conducted between 9th and 14th November 2007 on a representative group of 1,000 Poles. The maximum statistical error was +/- 3.1%, assuming an honesty level of 95%. Source: PAP ING report relating to the construction market in Poland for October 2007 On the basis of results from surveys carried out among firms, ING has prepared a report relating to the state of the construction market and the perspectives for the sector.
The report sums up the final year in the construction sector, noting an improvement in the indicators for the dynamics of production in the building and assembly sector and also the financial figures for businesses. This shows that the indicators and economic climate should be maintained at a high level. The ING experts forecast growth of the market at a level of above 10% annually. They also estimate that construction will grow most quickly in relation to industry and the infrastructure. The analysts’ state that in 2006 the rate of growth reached a level of 12.8% and that the value of the market has increased to approximately 100 billion PLN. A growth of 27% has been calculated for the first 7 months of this year, which is a figure of 14.6% points above the figure for the analogous period of last year. The report anticipates an increase in production for the building and assembly sector, at a level twice as high as that of the growth in GDP, i.e. a figure of 10% each year. According to the optimistic forecasts over the next 2-3 years the rate of growth should exceed 15% annually. Exports in the automotive industry From January to the end of August this year, the foreign exports of the motor industry products manufactured in Poland reached a value of 10.23 billion EUR. This was 14.37%, i.e. 1.28 billion EUR more than for the same period last year – the Polish Automotive Chamber (PIM) stated.
The most important destination of these products (87% of the total of the sector’s exports) are the EU countries. The most important export outlet remains Germany, which receives 25.69% of all the automotive exports. In second place was Italy – with 19.75% and third was Spain – with 6.43%. For some years the largest share of the exports are in passenger cars and passenger-delivery vehicles. Over the eight months of this year the value of their exports was 3.66 billion EUR, forming a 35.79% share of the whole export sector and was 5.67% higher than last year. The second foundation for exports remained parts and components. In the specified period their export value was over 3.01 billion EUR, representing growth of 24.72%, compared to the analogous period from 2006. The results of the findings for the period: January-August 2007, allows PIM to maintain its forecast – that the industrial exports for the whole year will exceed 16.2 billion EUR. Source: PAP  Editorial office: Polish Information and Foreign Investment Agency, 00-585 Warsaw, Bagatela Street 12Economic Promotion Department tel: (+48 22) 334 98 15, fax: (+48 22) 334 99 99, e-mail: redakcja@paiz.gov.pl | ||||||||||||
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