| POLISH INFOMATION AND FOREIGN INVESTMENT AGENCY | ||||||||||||||||
NEWSLETTER March 26th 2009, Number 115 | ||||||||||||||||
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TABLE OF CONTENTS NEWS
INVESTMENTS IN POLAND
FROM THE REGIONS
DID YOU KNOW...?
FROM THE EDITOR Dear Readers, In today's edition you can find information about two new investments: an Italian one producing building materials and an American one from automotive sector. Both of the investors were attracted to the Wałbrzych Special Economic Zone. We invite you also to participate in our conferences devoted to renewable energies and a presentation of the report conducted by the Polish-German Chamber of Industry and Commerce. And for dessert, we advice reading an article about the most modern biographical museum in Europe which will be opened next year in Warsaw. Pleasant reading! PAIiIZ’s editorial team NEWS Foreign investors are returning to Polish market Although in time of crisis it is difficult to find an optimistic news about economy, up to now, Poland, is defending itself against the decrease. This is confirmed by the reports of international economic institutions and by a growing interest in Polish market shares.
An entrance on Polish shares market was announced on Monday by the management of Credit Suisse Asset. Its representative, Robert Parker, a well known London analyst of financial market, has arrived to Warsaw. Credit Suisse AM intends to invest first of all in consumer sector and export but it also takes into consideration infrastructure, public health and telecommunication firms - assessed Robert Parker for Gazeta Wyborcza daily. Polish economy is in good condition, specially in comparison with other countries from the CEE region such as Hungary, Ukraine or Baltic countries. In his opinion, Polish banking system is strong, it does not have any ‘toxic’ assets, only individual credits admitted in Swiss francs may cause a certain problem in future. What's more, Credit Suisse AM took Poland (next to India) as the most perspective location for investment among emerging markets. Various analyst are of the same opinion: Polish economy has a solid foundation which will enable it to escape from the effects of a worldwide slowdown and maintain good health in 2009. In the opinion of one of the biggest world banks, HSBC, Poland will not suffer from crisis as much as other countries in our region due to lower tax rates, strong internal demand, as well as the influx of capital from the European Union. The problem may be the decrease in exports, but due to the fact that its share in the structure of Poland's GDP does not exceed 33%, the Polish economy will not feel the effects of the global slowdown as strong as other countries in our region, where the share of exports in national income is much higher: 66% in the Czech Republic and 69% in Hungary. From the beginning of this year, many international financial institutions issued their reports evaluating well foundation of the Polish economy. The World Bank states that Poland in 2009 will reach two-percent GDP growth, which makes our country one of the few with positive growth rate of GDP. The European Commission confirm these estimates. The next one is a report by an international rating agency Moody’s Investor Service, issued in March. The report on the countries of the CEE region, qualifies Poland in addition to Slovakia, the Czech Republic and Slovenia, to a group of countries with a rating without risk for the financial credibility. Favorable results of the reports cited by the international press are essential part of the good reputation of Poland. The positive image of the country plays an important role in taking business decisions, especially in the time of crisis, when emotions play an important role. Companies, which decided to remain on the market, can no longer hold the investment. Sooner or later, they will be forced to seek new markets and opportunities for cutting costs. That is when Poland may prove to be a black horse in the race for attracting investors. (PAIiIZ / Gazeta Wyborcza) Invitation to the conference “Foreign direct investments in Poland at the time of world economic crisis” Polish Information and Investment Agency invites to the conference “Foreign direct investments in Poland at the time of world economic crisis”.
The survey by the Polish-German Chamber of Industry and Commerce (PNIPF) on Poland's investment attractiveness in the opinion of foreign investors will be presented during the conference. After that, representatives of governmental institutions and finance will discuss the main subject of the conference. The event will be held on the 2nd of April, at 10 am at the PAIiIZ Information Center, 12 Bagatela St. To apply for participation, please send email to agnieszka.schutte@paiz.gov.pl. (PAIiIZ) “Renewable energies: the chance for Polish entrepreneurs” - PAIiIZ conference The conference „Renewable energies: the chance for Polish entrepreneurs”, organised by the Polish Information and Foreign Investment Agency, will be held on the 31st of March.
The speakers at the conference will include: members of PAIiIZ Management Board, representatives of the Institute for Fuels and Renewable Energy (IPIEO), representatives of the National Fund for Environmental Protection and Water Management (NFOŚiGW), Marshal’s Office of Zachodniopomorskie Voivodship, Frost&Sullivan, LM Glasfiber, Northern Europe. Everybody interested in this subject is cordially invited on the 31st of March, to PAIiIZ seat, 12 Bagatela St., from 11 am to 1 pm. Admission is free. Conference in Polish. We provide simultaneous translation into English. For more information contact directly Katarzyna Rosińska, Economic Promotion Department, e-mail: katarzyna.rosinska@paiz.gov.pl. INVESTMENTS IN POLAND American investment in Bolesławiec
As the effect of the investment in an automotive industry in Wałbrzych Special Economic Zone, 160 workplaces will be created. An American company Guardian Automotive intends to build car parts factory in Bolesławiec.
On the 25th of March Guardian Automotive Poland has received the business activity permission allowing to invest in Bolesławiec sub-zone. The Americans want to locate here a factory producing plastic parts for the automotive industry. Ultimately, they will employ 160 people, and the value of investments planned to be completed at the end of 2012, will amount to 85,5 million PLN. Guardian is one of the biggest producers of float glass, mirrors and glass products for the automotive industry. The company currently employs over 19 thousands workers in factories in 20 countries. Boleslawiec factory is the second investment project of Guardian Group in Poland. This concern has already Huta Częstochowa, producing glass. The American company is the second investor from the automotive industry, which has located its investments in sub-zone Bolesławiec. For several months also Hoerbiger Automotive - German manufacturer of systems to guarantee the comfort of driving is conducting its activity here. (WSSE)
Italians enter Nysa Advantech Poland, producing glass wool used in household equipment, wants to build their new factory in Wałbrzych Special Economic Zone.
This Italian company received a business activity permission in December 2008. In February this year a notarial act has been signed between the Municipality and the Nysa Advantech Poland for the purchase of a parcel with an area of approximately 5.1 hectares. Entrepreneur guaranteed that the investment will be worth more than 46 million PLN and employment will reach at least 80 employees. The end of construction of the factory is planned by the end of 2010. The industrial part of Nysa is of a great interest to entrepreneurs. Among the companies that located their business here, are Chio factory (food industry) belonging to Intersnack Knabber Gebaeck GmbH & Co.KG, Taboss plants (plastic), Caftex (steel production), or the confectionery establishments "Otmuchów" (food industry). Soon, due to the decision of the Ministry of Economy, the area of Nysa sub-zone will be enlarged by another 4,3 hectares, in which local entrepreneur is very interested. (COI Opole) IBM opened a new business services center in Gdańsk The IBM concern officially reported to extend its activity in Poland and launch the Regional Center of Competence and Implementation in Gdansk. This is the first of this type investment in IBM and third in the region of the Central and Eastern Europe.
New IBM center in Gdansk supports companies in the area of consulting and application services. It specializes in SAP and Chordiant solutions, offering services in the area of ERP systems (integrated management of business), CRM (customer relationship management), SCM (supply chain management), and in perspective - Business Intelligence and Data Warehouse. The center belongs to a network of 20 similar centers in eight countries which cooperate with clients and with the big and medium companies of the petrochemical and telecommunications. The center employs now 20 people but recruitment is continuing. - I am very happy with each new investor in Gdańsk, especially when such a famous and important company like IBM appears in our city. Its presence is undoubtedly a promotion of the city and the perspective of new workplaces. It is also the result of a consistent policy to attract foreign investors form IT sector to Gdańsk - says Paweł Adamowicz, Mayor of Gdańsk. IBM is developing its activities in Pomerania region on the basis of the available resources of knowledge and highly skilled employees. At the end of September 2008, under the Academic Initiative, IBM opened a Research Information Technology Laboratory at the Technical University of Gdańsk. It is a joint initiative of IBM, the Department of Management and Economics, Gdańsk University of Technology and the Ministry of Science and Higher Education. In the laboratory, students are carrying out the work on the basis of content and support of IBM products. The next step of the development of the newly opened center is a transformation into the Center of Advance Studies, which is to work with R&D Laboratories of IBM worldwide network. (Municipality of Gdańsk)
MACROECONOMIC POLAND
Source: www.nbp.pl FROM THE REGIONS One million pounds for programmers from Łódź British Rule Financial advisory firm appreciated programmers from Lódź. Now the company decided to buy for 1.1 mln pounds a Łódź-located branch of a firm Peer2Peer. The new owner announced that 170 new workplaces will be created in the company.
Rule Finacial found interest in the Polish company while consulting a commission for computer software, which one of the banks in Lódź ordered. The company's rating was very good, and since the British company was planning an expansion into the new markets, it has decided to purchase it. The negotiations lasted six months and ended in success. Until the end of 2010 the number of posts in the new company (now known as Rule Financial) will increase by 170. The company intends to invest in staff: the new employees can count on training, not only in Poland but also abroad - told to Gazeta Wyborcza daily Piotr Orłowski, the HR director of Łódź branch. Rule Financial is a British company, indicated by Microsoft on the list of one hundred fastest-growing new technology companies in the United Kingdom. Currently the company employs 250 people in its two offices: in New York and Barcelona. Łódź is the third branch of this company. (Gazeta Wyborcza) DID YOU KNOW...? A Chopin’s Museum project was presented in Warsaw The largest in the world collection of Chopin’s belongings finally found its place. The Chopin Museum in Warsaw will be the most modern biographical museum in Europe. An opening is planned for the 1st of March 2010, exactly on the day of the 200th anniversary of the great composer’s birthday. This way, the National Chopin Institute (NIFC) wants to commemorate of the Chopin’s Year.
The exhibition, includes 7000 objects of the world’s biggest collection of Chopin’s belongings. It will be located on four storeys in an antique building. Each visitor will choose his own path to visit the exhibition, because there will be no one indicated route inside. The exhibition items will be divided in thematic halls. Instead of the traditional ticket or the audio-guide, at the entrance of the museum each visitor will receive a chip which will display images and will emit a commentary in a chosen language, after applying it for advisable places. Information encoded in the chip and multimedia presentations will be individualized: children will receive one chip, adults - another one, depending on the degree of the knowledge about the life of the composer.
At the museum we will hear not only Chopin’s music, but also the sounds of Parisian streets, see the composer's clothes and even feel the smell of the violets - Frederick’s favorite flowers. Museum will be created in an old palace, originally built in the 17th century in a late-baroque style, called Ostrogski Palace. Destructed during the WW II, it was rebuild, according to the original plans. Since 2005 the palace was renovated. Due to that, the legendary underground of the palace has managed to increase the museum surface by over 4,6 thousand sq m. Expected costs of the creation of the museum are over 81,5 million PLN. Just beside the palace a building of the Chopin Center will be located. In its form and style it is corresponding with the old building, which was here before the WW II. This building will be a seat of the National Institute of Frederic Chopin, an excellent library, the record collection, conference rooms and touristic center. (www.nifc.pl) 
Editorial office: Polish Information and Foreign Investment Agency, 00-585 Warsaw, Bagatela Street 12 Economic Promotion Department, tel: (+48 22) 334 98 15, fax: (+48 22) 334 99 99, e-mail: redakcja@paiz.gov.pl | ||||||||||||||||
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