August 13th, 2009,
Number 135




Dear Readers,

This week we recommend to read about an index published by Thomson Reuters and OeKB which shows that investors’ mood has been more and more positive in the CEE region. We also write about a new investment realized in Chojnice by Euronit and present an analysis prepared by a prestigious Nouriel Rubini expert group from RGE Monitor according to which Poland classifies among the very few bright spots on the economic map of the world. Sailing fans may find an information on the latest edition of the Polish Boat Show and Yachting Festival WIND and WATER on Water in Gdynia interesting.

Pleasant reading!

PAIiIZ’s editorial team

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Poland again appreciated by foreign investors

According to an index published by Thomson Reuters and OeKB and cited by Gazeta Wyborcza, the mood of foreign investors active in the CEE region has improved for the first time since 2007. From among all the countries in the region Poland classified on the highest position - here investors really result to be in high spirits.

The quarterly index of optimism among investors rose in Poland and reached 5 points (in April 4 points). The surveyed shows also that entrepreneurs positively assess the economic climate in the Czech Republic (4 points against -7 in April). In comparison to the former survey the overall index for the countries in the Central and Eastern Europe rose by 8 points (from - 15 in April to - 7 in July).

However, gloomy atmosphere still continues among investors in Hungary (-28 points) and Ukraine (-20 points) i.e. in the countries which were really hard hit by the global economic turmoil.

“Gazeta Wyborcza” informs that mood surveys have been conducted by Reuters and OeKB (Austria's main provider of financial and information services to the export industry and the capital market) since 2007. The index has been created on the basis of questionnaires sent in to 400 enterprises active in the whole region. (Gazeta Wyborcza)

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Bigger zone in Pomerania

On August 4th, 2009 the Council of Ministers decided that the Pomeranian Special Economic Zone will be enlarged by 58 ha. The SEZ’s area will now jointly measure 1220 ha. The expected number of new workplaces should reach at least 1625.

The recently included lots are located in sub-zones of Rypin, Bydgoszcz and Stargard Szczeci雟ki. It is expected that 1625 people will find jobs in the Zone and further 400 in entities co-operating with the zone-base projects. Investment outlays in the enlarged PSEZ may reach even PLN 347 mln. Regulations determining the enlargement enter into force 14 days after its announcement.

The Pomeranian Special Economic Zone - lots in Malbork. (Source: www.strefa.gda.pl)

The SEZ management hopes the changes will attract new investment initiatives, especially in the field of innovation which are bound to support competitiveness of the Polish economy and generate new workplaces. In the foreseeable future the zone’s enlargement will make it possible to realize one of the first innovative projects in the Bydgoszcz Industry Park. Airon Investment - Anna Niemczewska will construct a processing factory for large-sized sheet metal and profiles. Thanks to the PLN 40 mln investment at least 40 new workplaces will be created. (MG/PSSE)

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Polish deficit in trade volume dwindles

The negative balance in foreign trade volume after the first six months of the year fell to PLN 16.2 bn. In the same period a year ago the trade deficit accounted for PLN 43.2 bn.

The latest data released by the Central Statistical Office (GUS) shows that the first half of the year saw export diminish by 3.1% and reach the value of PLN 201.1 bn. Import turnover accounted for PLN 217.3 mln recording a decrease by 13.4% in comparison to the same period last year. The changes in foreign trade volume depend largely on global slump in consumer demand caused by the global crisis and on the rate of exchange of the Polish z這ty against the major world currencies.

Germany still remains the major trade partner of Poland - export to the Poland’s western neighbour expressed in the Polish currency rose by 0.4% (expressed in euro decreased by 19%). Increase in export expressed in Polish z這ty was recorded also in reference to Italy (+12.4%), France (+3.2 %), the UK (+6.5%) and Holland (+0,8%). A significantly smaller amount of products, when compared with an analogous time last year, was imported from Poland by Russia (-29% in z這ty and -43.7% in euro) and Ukraine (-33% in z這ty and -46.8% in euro).

During the last six months Poland bought the biggest amount of products from Germany - but 18,6% less than a year ago. China is the second biggest country importing its goods to Poland - here import rose by 12.3%. Increase in the value of import was recorded also in trade volume with South Korea (increase by almost 24% in Polish zloty) and the USA. (GUS/wnp.pl)

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The European Inventor Award

The Ministry of Economy invites to take part in the European Inventor Award competition. The aim of the competition is to award the most outstanding achievements in Europe. Closing date for applications is September 12th, 2009.

In order to take part in the competition, an invention has to meet several innovative criteria. It has to be explained what the invention may bring into its field, the project’s practical application and the expected social and economic benefits to be derived from it, e.g. improvement of the quality of private and professional life or a positive influence on environmental protection. Moreover, each of the inventions should have proven documentation of its commercial success in Europe.

Awards will be granted in four categories: Industry, SME/Research, Non-European Countries and Lifetime Achievement.

The European Inventor Award will be handed over in April 2010 during a ceremony in Madrid. Applications can be filed by the interested themselves or recommended by third persons and sent in to the European Patent Office (EPO). The deadline is September 12th, 2009. For more information visit www.epo.org/european-inventor. (www.mg.gov.pl)

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Euronit opened its second factory in Poland

A new factory by the cement roofing tiles producer was opened in Chojnice within the Pomerania Special Economic Zone. Investment costs are estimated to reach PLN 60 mln.

Although the first tiles were produced in the factory in February this year, the official opening of the facility took place several months later. The factory has been manufacturing two basic tile models and seven specialised tile versions. Thanks to the new investment the factory will now be capable of producing 10 million tiles a year. The final productive capacity of the plant is expected to triple and amount to 30 million a year.

In his comment for the quarterly professional magazine „Warstwy”, Waldemar Kantczak, Euronit General Sales Manager, said - Good products are always bound to find buyers. The crisis will not last for ever. There is an unflagging demand on new houses, not to mention the roofs covered with asbestos which need to be replaced. The construction industry will flourish again.

The new Euronit factory in Chojnice. (Source: www.euronit.pl )

Despite the economic slowdown Euronit believes in the potential of the Polish market and has now decided to realize the investment. Chojnice was selected due to its strategic location in the north of Poland and good access to materials used in cement production. The first Euronit factory is situated in Olkusz (Ma這polskie). Equally important for the investor was the possibility to hire qualified workers. At the moment the Chojnice-based factory has been employing 26 persons and plans to hire further 10 by the end of the year.

Euronit has been present on the Polish market since 1998. The company forms part of an international Eter Group set up in 1905 in Belgium.  (Warstwy / www.euronit.pl)

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  • Retail sales in Poland accounted for +0,6% - informs Eurostat

    The figure places Poland among the four European countries (together with Austria, the UK and Sweden) that recorded rises in sales. Poland is the only EU member state which has not recorded slumps in retail sales this year. (Puls Biznesu)

  • The 1st  half of the year saw 9071 companies set up in Poland

    During that time 293 companies declared bankruptcy and 1226 went into liquidation. Jaros豉w Nowrotek head of the Central Economic Information Bureau which analyses the current condition of companies told “Puls Biznesu” that liquidation and bankruptcy applie to 2% of the total number of companies registered in the National Court Register. (Puls Biznesu)

  • State Tresury gained PLN 3 bn from privatization this year - informed Aleksander Grad, the Minister of Treasury

    According to a privatization schedule for 2009 privatization proceeds should exceed PLN 11 bn and next year PLN 25 bn. (PAP, Ministry of Treasuer)

  • Exchange rates (as of 13.08.2009):









Source: www.nbp.pl

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Science -Technology Park in Bia造stok to have new roads

The city will allocate over PLN 13.5 mln to the construction and reconstruction of the first three streets in the new Science -Technology Park in Bia造stok. The investment will be co-financed from EU funds under the Development of Eastern Poland Operational Programme.

The Bia造stok City Council has just announced the first bidding for contracts to perform road works connected with the creation of the Park. Janusz Ostrowski, head of the Investment Department at the Bia造stok City Council told the Polish Press Agency that the works should start in October. 1 km of the road will be developed and another 1.5 km with water-sewage system and street lighting will be constructed in compliance with local development plan.

The Park ranks among the biggest investments to be realized in Bia造stok with the use of funds from the Development of Eastern Poland OP. The Park is estimated to cost PLN 140 mln, 85% of the outlays come from the EU. Road construction is expected to absorb round PLN 50-60 mln of the allocation. The rest of the fund will be used to finance building construction.

Bird's-eye view on Bia造stok. (Source: From the archives of the City Council in Bia造stok)

At the moment the project of the Park has been under preparation. A consortium of Gda雟k companies- Industria Project and Prostal W. Werochowski R. Pankau - won the competition for documentation of the project in July and will soon sign a contract for the service with the city. The project’s comprehensive documentation including technical infrastructure and area development should be finished by July next year. The second half of 2010 should see bids for construction of buildings invited.

The Bia造stok Science-Technology Park will be situated in the vicinity of the Suwa趾i Special Economic Zone (Bia造stok sub zone). Investors will have 20 ha at their disposal. Two buildings, to be constructed on a 6.8 ha lot, will host enterprise incubators, administration, technology and conference centre, production floor and a research and science facilities. (wnp.pl)

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Poland-the bright spot on the global recession map

Analysts from RGE Monitor decided to assess the economic situation of countries which managed not to be affected by the global economic crisis. Only three European countries i.w. Poland, Norway and France, entered the group.

Experts appreciated the fact that Poland managed to maintain economic growth in the difficult first quarter of the year and emphasised a number of factors which contributed to the good condition of the national economy. Paradoxically it was the more moderate pace of development observed in Poland, in comparison with the Baltic countries and the Balkans, that helped the global slowdown results to be less harmful for the economy. Being the biggest market in the region, makes Poland relatively less dependent on recently very unpredictable foreign markets in that the part of goods which are not exported can be absorbed by the country’s domestic market. Also the country’s flexible exchange rate and record-low interest rates have helped cushion the slowdown.

The RGE Monitor emphasizes that Poland proactively distinguished itself from others in the region and boosted investor confidence in May by securing a USD 20 bn Flexible Credit Line from the IMF, a special facility reserved for emerging markets with strong Fundamentals. (www.rgemonitor.com)

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Boat Show and Yachting Festival WIND and WATER on Water in Gdynia

Between August 6th-9th water sports enthusiasts could enjoy the only Polish Boat Show and Yachting Festival WIND and WATER on Water in Gdynia. Visitors could see the most beautiful yachts and ships, sailing and motor-assisted equipment gathered in Marina Gdynia. The event was organized by YACHT EXPO.

The Marina in Gdynia hosted nearly 100 yachts and motor boats. Large tents standing on the coast gathered almost 100 enterprises offering sailing, motor boat, diving and canoeing equipment, rescue and safety equipment, as well as tourist, sports and recreation clothing. The event was attended by charter and boat race organizers, as well as by yachting media. It is worth mentioning that this year the Boat Show was an international event with exhibitors from Cyprus, South Korea, Ukraine and Great Britain.

Ships during Boat Show and Yachting Festival WIND and WATER on Water 2009. (photo: Marta Bryk)

The shows of new vessels surely resulted to be the greatest attraction of the event. The largest vessel presented at the Boat Show was the 30-metre long sailing yacht J-26 produced by Yacht Building Management. The J-26 schooner was designed on special order for a private shipowner, according to his design guidelines. It is adapted for tourist and competitive sailing in all sea and ocean areas. The yacht can be operated by two qualified persons on one-person watch. It is also suitable for competitive voyages with 10 or even 18 crew members. Among other exhibitors there were: SKEIRON BOATS, Polska Stocznia Galeon, Princess Yachts Poland, Delphia Yachts, Rufi, Stocznia Ustka, Sukces Yacht, Reda Yacht.

Rescue shows (photo: Marta Bryk)

Apart from expositions of exhibitors, the WIND and WATER Boat Show and Festival on water included many additional attractions and events connected with water sports. During this year’s Boat Show the visitors and sailing enthusiasts had an opportunity to see the Polish Match Tour boat race.

The event included also a spectacular WOPR (Volunteer Lifeguards Association) rescue shows and rescue actions with dogs prepared by the WOPR Water Rescue Group. Not to mention special attractions for divers like the construction of  BΜTNIAK B-155 - a Polish one-person mini-submarine for diversion purposes.

The monthly “畝gle” organized a meeting with Olympic and World Champions Mateusz Kusznierewicz and Dominik 砰cki. The Boat Show was accompanied by well-known and loved bands and singers e.g. Ryszard Muzaj and Flash Creep, who performed shanties on the main stage. (www.wiatriwoda.pl)

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