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NEWSLETTER
29th November 2007
Number 48

TABLE OF CONTENTS

 

NEWS

Investment Forum Puławy 2007


Nitrogen Works of Puławy S.A.
We invite you to Investment Forum Puławy 2007, which will take place on 7th December 2007, at the Nitrogen Works of Puławy S.A., in no. 13, Tysiąclecia Państwa Polskiego St., honorary patronage of the conference has been given to the Polish Information and Foreign Investment Agency (PAIiIZ).

Investment Forum Puławy 2007 is organised with the goal of presenting the advantages of the Puławy Production Park and the Starachowice Special Economic Zone.

Mrs Grażyna Sićko Vice President of PAIiIZ, a representative from the Ministry of Economy, the Ministry of Regional Development, the Ministry of the Treasury and investors interested in business in the Puławy Production Park and the Starachowice Special Economic Zone, will all take part in the Forum.

Further Information: biuro@martis-consulting.pl

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Decision of PAIiIZ’s competition for the best Masters thesis

We warmly welcome you to a gala to decide the best Masters thesis, regarding the promotion of the Polish economy. The ceremony will take place on Tuesday 4th December 2007, at 1pm.

Among the 20 thesis’ handed in, three have been chosen for awards and two further works have been given distinctions.

The idea behind the competition was to popularise the theme of promoting the Polish economy, national marketing and the Polish national emblem.

For the authors of the winning thesis’ a prize fund has been prepared of 10,000 PLN, together with a practical traineeship at the Polish Information and Foreign Investment Agency. An additional distinction will be the possibility to publish extracts from the chosen works in the professional magazine “Economia”, issued by the Warsaw University’s Faculty of Economic Science.

The competition has been organised by the Polish Information and Foreign Investment Agency and the Foundation for the Polish Promotional Emblem, in cooperation with the University of Warsaw, the Polish Academy of Sciences and the Warsaw Stock Exchange. The honorary patronage of the event has been given to the Minister for the Economy.

The high content level of the thesis’ and their usefulness in terms of practical economics, provide strong signals for the need to continue the event over the coming years.

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INVESTMENTS IN POLAND

Lenovo Extends Its Global Footprint to Europe with New Plant in Poland


Dr Paweł Wojciechowski, President of PAIiIZ and Milko van Duijl, President Lenovo EMEA and SVP Lenovo Group, Spencer Edmonds, Executive Director, Lenovo EMEA Manufacturing
Lenovo today announced the company will open a new manufacturing plant and fulfillment operations center in Legnica SEZ, Poland. The total investment value is estimated at over 20 million USD. The employment will amount to ca 1000 people.

The facility will support regional EMEA customer requirements including product assembly and configuration, distribution services and logistics along with additional value-added services.

As part of its worldsourcing strategy, Lenovo is committed to using its position as a New World company to bridge emerging and developed markets with significant investments and employment. With its new plant in Poland – the fifth plant Lenovo has announced this year – its ever-growing global footprint now spans four continents and five countries including Shanghai, China; North Carolina, U.S.; Baddi, India and Monterrey, Mexico.

By investing in and satisfying the need for Lenovo products in key markets like EMEA, Lenovo will improve its costs, shorten customer delivery times, provide customers with the value-added services they need and ensure its best-engineered PCs are manufactured with the highest level of quality.


Dr Paweł Wojciechowski, President of PAIiIZ and Milko van Duijl, President Lenovo EMEA and SVP Lenovo Group

The new Poland facility, which will be located in Legnica Special Economic Zone at Lower Silesia region, is expected to become operational in the third quarter of 2008. The total investment value is estimated at over 20 million USD. This includes the manufacturing facility construction, tooling, salaries, taxes and additional contributions to the local, regional and national economies.

- To develop a state-of-the-art facility in EMEA, focused on improving the customer experience, we have a strategy that enables us to recruit the best local talent and international management where they are - we call it worldsourcing - said Milko van Duijl, President Lenovo EMEA and SVP Lenovo Group. - Selecting Poland as the location for Lenovo’s European manufacturing facility, combine with Lenovo’s best-in-breed manufacturing processes, is a significant step in demonstrating our increasing presence in Europe and our strategy to grow in this market.

- Lenovo’s selection of Poland for its EMEA plant recognizes the rich economic environment of our country and its strategic location in the heart of Europe - said Marek Borowka, Country General Manager Lenovo Technology Polska. - With young, well-educated employees and a dynamically developing economy, Poland is a perfect location for international investment.

The 30,000 square meter facility in Poland is scheduled to begin operations in August 2008 with an initial production capacity of up to five million PCs per year. Lenovo will employ approximately 1,000 people when the plant is fully operational.

- Investments in the sector of IT are the priority for us. On one hand they are linked to the implementation of new technology and on the other, they create new work places for many excellent Polish specialists in this field - said Dr Paweł Wojciechowski, President of PAIiIZ.


Visualisation of the new Lenovo plant

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MACROECONOMIC POLAND

  • Interest rates: the Monetary Policy Council decided to raise the NBP interest rates on Wednesday 29th November by 0.25 percentage points to:

    • the referential rate 5.00% on an annual scale;

    • the lending rate 6.50% on an annual scale;

    • the deposit rate 3.50% on an annual scale;

    • the rediscount rate for bills 5.25% on an annual scale.

  • Labour market: at the end of October 2007 it fell to 11.3%, from 11.6% in September - the Central Statistical Office (GUS) stated on Monday 26th November.

    • The Ministry of Labour and Social Policy estimate that unemployment will fall by the end of 2007 to 11%. - The unemployment rate should fall to 11%. Earlier we thought that it would be to 11.5%, but now we know it will be lower - Ms Kluzik-Rostowska told journalists on Monday at the Sejm building.

    • The unemployment figure registered at the labour exchanges at the end of October was 1 million 720 thousand people. When compared to last year’s unemployment figure, it is now lower by 580 thousand people. When compared to October 2006, unemployment fell in all the voivodships.

    • The lowest unemployment statistics were noted in the voivodships of: Wielkopolska - 7.9%, Małopolska - 8.7% and Mazowsze - 9.2%.

  • Exchange rates (as of 29.11.2007):

Buy

Sell

USD

2.4504

2.5000

EUR

3.6166

3.6896


Source:
www.nbp.pl

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FROM THE REGIONS

Opole - “An attractive commune for the investor”

Economic promotion and the increase of the attractiveness to investors of the Opole region will be the goal of the next edition of the project “An attractive commune for the investor”, run by the Marshall Office of the Opole Voivodship.

The success of the first edition, which was concluded in June 2007, has led the authorities of the voivodship to continue the idea. The second edition of the project began in September 2007 and will continue up to June 2008.

The project is directed to representatives of the commune of the Opole region. The workers of these self governing authorities will be trained to provide a professional service to the investors; they will learn to prepare attractive investment offers in the communes.

The first edition was concluded in June with the award of the certificate: “An attractive commune for the investor” to sixteen of Opole’s communes. Many specialists responsible for servicing the investors in the communes, received the title of: “Manager of investments”.

44 local authority self-governing bodies from the region took part in the first edition of the programme, the Voivodship’s Board intends to open up the programme to the remaining communes as the event has been rated very highly by experts.

The success of the first edition of the competition has convinced the voivodship authorities to carry out a second complementary round of the competition, for the 14 local communes, which haven’t to date taken part in the contest.

Further details are on the web page of the Opole Marshall’s Office: www.umwo.opole.pl.

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A technology incubator will be established in Świdnica

The authorities of the Dolny Śląsk voivodship, the Wrocław University of Technology, the town of Świdnica and the Business Support Centre signed a letter of intention on Thursday, relating to the matter of establishing the Świdnica Technology Incubator for renewable energy.

The target of the incubator is to assist in a good and secure start in business and to attract new investors to Świdnica. It is also an opportunity to hold on to young and capable people from the town.

- The incubator is to help constructors to fulfil their dreams, as well as for young people concluding technical studies and wanting to control their own destiny. It’s worth remembering that one work place in an innovative company can generate up to five new workplaces in services - Mr Wojciech Murdek, the President of Świdnica said. - High technology is also an opportunity and civilising influence for the town and region.

By 2010 in Przemysłowa St. a support centre is to be set up of several thousand sq. metres, with an area for production, services, design, testing, a laboratory, a prototype hall, conference halls, with broadband and display access to the internet. Entrepreneurs will be able to expect professional technological consultancy from experts, access to the research facilities of Wrocław University of Technology, help in gaining new markets, help in gaining finance both from sources for assistance and from private investors, common administrative assistance and also low rental rates.

- Świdnica is entering an exclusive group of towns, by which Dolny Śląsk can become a region for knowledge. Not by making declarations, but by actions - said Prof. Tadeusz Luty, rector of Wrocław University of Technology - We’ll show the investors that Świdnica and Dolny Śląsk provide excellent backgrounds for research, science and innovation. We’re also providing a signal for young people, that intelligent solutions can be provided here”.

The town is providing the site and is investing in the utilities for the enterprise. The technical consultancy and also the assistance in gaining finance for the enterprise will be dealt with by the project’s remaining partners, i.e. Wrocław University of Technology and the Business Support Centre. The project will be financed from various sources, e.g. the Regional Operational Programme for 2007-2013. The final cost for realising the venture is still unknown. Apart from the aforementioned Polish partners, the town can also count on international partners – the Polytechnic of Lvov and the Danish Institute of Technology.

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ANALYSES AND REPORTS

Forbes praises Poland

Poland has achieved first place as a location for manufacturing investments and third place, in terms of the attractiveness for investments in services within Eastern Europe – write Forbes, in their latest report.

The developing markets are attracting increasing attention from the corporations of the USA and Europe, as the place to locate investments. Poland due to its EU membership has become a much more secure place for investments. As Forbes write, PricewaterhouseCoopers have prepared an analysis of the 20 most important economies of the world and has added Poland to the group of markets in which it was worth investing.

Two specific categories were taken into account from the point of view of the investor; these were the benefits flowing from a given location and the risks relating to the investment. Poland’s high position was due to the low level of investment risk and the low labour costs. But, the low labour costs will cease to be significant over the coming years and into the next decade.

As Forbes state, in terms of production the most attractive locations are Vietnam and China, which to a large extent is because of their competitive costs. Low costs are also an asset for Poland. To our advantages there must be added the lower than average figure of EM20, for the whole group and the distance of our country to the important export markets (Germany and America). The top five is completed by Chile and Malaysia. Their position can be attributed to the low levels of corporate income tax and low levels of investment risk. India has relatively low wage costs, but their disadvantage is the high rate of taxation and the long distances to their export markets (the EU and America).

According to the ratings, the greatest strengths of Poland are investments in production and in services intended for exports. For investments directed to the home market, our country is still not such a popular location. Yet this could change. As Forbes states, a positive factor in our country is the concentration of an increasing number of advanced business services, so that investments are not limited solely to production or to simple services. What is important is also the provision of effective support to small and medium sized businesses, as they can in the future become significant international players, providing interesting and ever more highly paid positions. The report also asserts that to insure Poland maintains its place among the leading nations, it is essential to limit risk (e.g. entry into the Euro Zone), improvement of the infrastructure, preparation of an investment strategy linking innovation with education, an appropriate policy for economic migration and also the effective promotion and servicing of investors.

Source: Forbes

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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
Polish Infomation and Foreign Investment Agency www.paiz.gov.pl