POLISH INFOMATION AND FOREIGN INVESTMENT AGENCY
NEWSLETTER
 April 3rd, 2014,
 Issue 376

NEWS

EXPO 2015. Poland and Italy closer as never before
“Now, Poland gets a chance to be closer to Italy, and Italy to be closer to Poland,” said PAIiIZ president Sławomir Majman. As the Polish government's representative and the general commissioner of the Polish Section at EXPO 2015 in Milan, on 31 March in Milan, he signed the access agreement of Poland to the EXPO 2015.

“Although we come to Italy late, we have a great desire to win”, said Mr Majman. Dariusz Bogdan, the deputy minister in the Ministry of Economy and the chairman of the Polish interdepartmental team for EXPO 2015, accompanied PAIiIZ's president during the signing of the access agreement. “We wish to have the most Italian pavilion of all the EXPO participants”, said Mr Bogdan. The EXPO 2015 organizers were represented by Giuseppe Sala, the Italian government's commissioner for EXPO 2015 Milan, who argued that the presence of Poland at the exhibition guarantees that the event it will not be boring.


From the left: deputy minister Dariusz Bogdan, EXPO 2015 Milan CEO Giuseppe Sala and general commissioner of the Polish Section, Sławomir Majman

The agreement provides Poland with a prestigious location at EXPO 2015 - at the heart of venue, by the Italian pavilion and close to the national stands for France, Germany, Great Britain, Spain and Hungary.

The World Exhibition EXPO 2015 will be held in Milan between 1 May-31 October next year under the slogan "Feeding of the planet, energy for life". The exhibition will be attended by nearly 150 countries around the world.


The ceremony of signing the access agreement of Poland to EXPO 2015

More information: www.paiz.gov.pl/20140331/expo2015_poland_and_italy_closer_as_never_before. (PAIiIZ)

Polish premier and business visit Moldova
Poland's prime minister Donald Tusk and his Moldavan opposite number Iurie Lanca attended the Polish-Moldovan Investment Forum that was held on 28 March in Chisinau. The meeting brought together representatives of the Ministry of Economy, the Ministry of Foreign Affairs, the Ministry of Sport and Tourism and Polish entrepreneurs. PAIiIZ board member Bożena Czaja was one of the speakers during the event.

“The EU is an impressive project that delivers to every citizen. The EU is also an opportunity to accelerate the development and prosperity for everyone”, said Donald Tusk. The Moldovan premier added that Poland is one of the most important markets for Moldovan wine. Mr Lanca also mentioned that Moldova noted 8.9% GDP growth last year, a reason to believe in its economic potential.


PAIiIZ deputy president Bożena Czaja during the Polish-Moldavian Investment Forum

Among the sectors of cooperation between Polish and Moldovan business that offer the greatest opportunities are renewable energy and clean tech, agriculture and agri-food industry. Currently, in Moldova there are more than 50 Polish companies. One of the biggest investments in the Moldovian market is Polski Cukier, which has already invested $15m there.

During the Forum, both parties signed the set of agreements, including an inter-governmental agreement between Poland and Moldavia on tourism cooperation, and agreement establishing the Polish-Moldovan Economic Committee under the UN Global Compact, a memorandum of understanding between Poland's National Energy Conservation Agency (KAPE) and Moldovan Agency for Energy Efficiency, as well as a letter of intent on the introduction of Polish technologies to the Moldavian non-wood biomass-based energy sector. In 2014, PAIiIZ and its Moldovan counterpart MIEPO launch a project entitled “Implementation of the Polish experience in attracting FDI in selected regions of the Republic of Moldova”. The Polish-Moldovan Investment Forum was organised by Polish Ministry of the Foreign Affairs, PAIiIZ and MIEPO. The event was attended by nearly 70 Polish companies and business institutions and about 180 entrepreneurs from Moldova.


Ceremony of signing the agreement establishing the Polish-Moldavian Economic Council under the UN Global Compact

More information: www.paiz.gov.pl/20140328/prime_minister_and_polish_business_visiting_moldova. (PAIiIZ/KPRM)

Australian miners visit Poland and the Czech Republic
Australian entrepreneurs representing the mining sector came to PAIiIZ to talk about the possibilities of business development and investment incentives in both countries. The visit was held on 31 March.

It is the third business visit of Australian mining companies to Poland. It is also an opportunity for Polish business to get familiar with Australian technologies and services in the mining sector. The meeting was prepared by PAIiIZ and Austrade. The Australians will also go to Katowice and Ostrava in the Czech Republic. The study tour will last until 5 April.

Australia is a global leader in the mining sector due to its natural resources, advanced extraction processes, modern technologies and qualified labour force. The country has also the world’s biggest resources of lead, nickel, uranium and zinc. It is also the biggest producer of bauxite and aluminium, zinc and nickel and the third largest producer of iron and gold. For foreign entrepreneurs, Australia offers a stable economy which is resistant to global economic crisis, as well as transparent law, highly qualified and multilingual workforce and innovative solutions in every sector.

On the other hand, Europe is the second region, after the US, in which companies with Australian capital invested in. Companies like Balamara Resources and Prairie Downs which operate in the coal sector or Linc Energy and Hutton Energy working on unconventional gas production are present in the Polish market, so do the Australian companies producing mining equipment and providing services in this sector.

More information: www.paiz.gov.pl/20140331/australian_miners_visit_poland_and_czech_republic. (PAIiIZ/Austrade)

The Guardian encourages the British to invest in Poland
“Why British businesses should consider exporting to Poland?” - asks the Guardian. encouraging the readers to invest in our country.

“Poland is a fast-developing country benefiting from post-communist economic liberalisation, with a growing appetite for western products”, writes the Guardian. The author of the text also argues that when ever he visits Poland, he is astonished by the fact how quickly the country is changing in terms of economy and culture. Moreover, according to KPMG report, the expenditures on luxury goods are rising rapidly as the number of wealthy people in Poland continues to climb. In 2012, the Poles spent over 10% more on luxury products than a year earlier.

The second part of the article focuses on the presence of British brands in Poland. “It's is a great country to target”, says the author and highlighting to UK companies thet things they should consider while targeting this CEE state. He argues that this is a perfect place to provide retail business. Another good sector to target is the Polish pharmaceutical market, the seventh largest in Europe, writes Arek Estall. (The Guardian)

Read the article: www.theguardian.com/small-business-network/2014/mar/27/british-businesses-exporting-to-poland.

INVESTMENTS IN POLAND

16 completed projects
16 foreign companies supported by PAIiIZ have completed investment projects during the first three month of this year. The total value of the investments will exceed €1.5 billion and will create 4,730 new jobs.

The US, with 39 investment projects worth €538m and the chance to create 5,891 new jobs, is the biggest foreign investor supported by the Agency. It is followed by German investors (28 projects worth €480m and plans to hire 6,612 new employees). The UK companies, with 10 projects worth €8.5m and the chance to create 1,425 new jobs, are the third on PAIiIZ's list. France and Japan (nine project each) as well as India, Sweden, South Korea (six projects each) are next.

In terms of sectors, the largest group of investment projects are in the BPO sector (32 projects, worth €23m; 7,150 new jobs) that is followed by automotive (28 projects), R&D (11 projects) and aviation (10 projects) sectors.

Currently, the agency is supporting 148 ongoing investment projects that in total are worth €2.9 billiom and in the future may be able to deliver over 29,000 new jobs

More information: www.paiz.gov.pl/20140401/16_projektow_zakonczonych. (PAIiIZ)

From Opole to Australia
The construction of a production facility owned by the American company Polaris has just finished. About 25,000 quads annually will leave the production line in Opole and go directly to customers all over the world.

In Opole, three types of off-road vehicles will be manufactured. Those are: quads, Ranger quads and RZR quads for sports use. In the newly created manufacturing facility will consist of a welding shop, paint shop and automatic manufacturing line. Test production begins this summer. Vehicles manufactured in the Wałbrzych SEZ will be sold in Europe, Asia and even in Australia.

The investor plans to hire 350 new employers by the mid-year. The total number of employers will reach 500. (WSEZ "Invest Park")

Boryszew acquires a Japanese company
At the end of March, Boryszew signed a letter of intent with Tensho Poland Corporation regarding the acquisition of 80% of its shares.

Tensho Poland Corporation (TPC) is a part of Japanese Tensho Electric Industries and operates in the Pomeranian Special Economic Zone. It is one of the world’s leading injection moulders. TPC includes using injection moulding technologies to manufacture plastic parts for televisions, automotive industry, packaging and other products that have wide usage in logistics processes (plastic pallets, containers, boxes) and containers for medical waste. (Boryszew/tensho-pol.pl)

MACROECONOMIC POLAND

  • Exchange rates (as of 03.04.2014):

Buy

Sell

USD

3.0002

3.0608

EUR

4.1347

4.2183

Source: www.nbp.pl

EVENTS

Zhejiang-Poland Matchmaking Forum
On 27 May, Warsaw's Regent Hotel will host the Zhejiang-Poland Matchmaking Forum. The Zhejiang Provincial Governor and the Polish Ministry of Economy are patrons of the event.

The programme of the Forum includes sessions of individual business meetings between Polish and Chinese entrepreneurs from Zhejiang.

Companies interested in participating in the event should register by 14 April:

www.gochina.gov.pl/Zhejiang_forum

China Council for the Promotion of International Trade (CCPIT), PAIiIZ and the Embassy of China are the organisers of the Forum.

More information: www.paiz.gov.pl/20140527/zhejiang_poland_matchmaking_forum. (PAIiIZ)

IDC Vienna CIO Summit 2014
IDC Vienna CIO Summit 2014 is the event aimed at board members and senior management of ITC companies. The meeting will be held on 9-11 April in Vienna. PAIiIZ is the official patron of the event.

Panel discussions are scheduled in the programme. Attendees will have the opportunity to participate in informal conversations with leading IT managers and to discuss the dominant trends in the global ITC market.

More information: www.ritzcarlton.com/vienna. (IDC)

Supporting SMEs in South Asian Markets
"Supporting SMEs in South Asian Markets: Belgian know-how useful to Poland" is the main highlight of the conference that will be held in PAIiIZ on 24 April at 9 am.

Polish companies are increasingly interested in the possibilities and difficulties of the Chinese market. However, many are perhaps neglecting the possibilities of the markets of South East Asia (Malaysia, Indonesia, Singapore, Thailand, and Vietnam), which offer not only some of the most dynamic consumer markets in the world, but also provide a high level of security. The conference of SMEs in South Asian Markets will be attended by Belgian experts working in South East Asia with knowledge of the new interest of local companies for Polish products and services will provide advice on how to approach those markets.

The seminar will be held in English. To register, please complete the online form by 18 April. For further information, please contact bruksela-polska@wer.pl, +48 22 850 00 85. (Brussels Invest & Export)

More information: www.paiz.gov.pl/20140424/supporting_smes_in_south_asian_markets.

Poland's potential as a country for locating corporate R&D
On 24 April, the Polish Embassy in London and on 28 April PAIiIZ will hold conferences on Poland's potential as a country for locating corporate R&D.

The London event will focus on the attractiveness of Poland as a location, looking at the tax aspects, the incentives (Special Economic Zones, EU funds) and case studies. The Warsaw event will showcase UK best practice in commercialising universities' research work, creating science parks and R&D-based clusters.

The seminars are co-organised by the BPCC, PAIiIZ and the Polish Embassy in London. PwC and Astra Zeneca are partners of the events. The event will be held in English. Participation is free of charge.

More information: www.paiz.gov.pl/20140424/polands_potential_as_a_country_for_locating_corporate_RD. (PAIiIZ/BPCC)

6th European Economic Congress in Katowice
On 7-9 May Katowice will host one of the most important economic events in Poland. The city will hold the 6th European Economic Congress in Katowice (EEC). PAIiIZ is the official partner of the conference.

The European Economic Congress in Katowice is a three-day series of debates and meetings attended by European Commissioners, prime ministers and representatives of governments of European states, presidents of the largest enterprises, scientists and practitioners, as well as decision-makers, who exert a real influence on economic and social life.

The major subject areas of this year’s Congress in Katowice will include: Europe in view of challenges of global competition; the EU's new budget perspective - wise investments; the industrial and energy policy; migration and the HR & labour market in Europe; the USA, China and Africa - partners and competitors.

More information: www.eecpoland.eu. (PTWP Group)

ANALYSES AND REPORTS

Forecasts for the eurozone
According to the latest EY and Oxford Economics report, the unemployment rate will remain at 11% until 2018. It will be one of the factors slowing down economic growth in the eurozone. Despite the fact that the eurozone is now recording economic growth, its rate is much lower than in other EU countries outside the monetary union.

Prognosis for the eurozone's GDP in 2018 will be only about 5% higher than in the period preceding the peak of economic crisis in the first half of 2008. Meanwhile, the UK economy will have grown by 12%, whereas in the US, the increase will have reached 23%. The report's authors also forecasts that the economic growth in the eurozone in 2014 will increase only by 1% and 1.4% in 2015. During next years, the GDP is expected to increase by 1.6% per year.

How to strengthen the economic growth in the zone? The experts argue that much has to be done at the governmental level in each country. The problem of high unemployment is one factor inhibiting growth. Currently, 12% of the eurozone’s adult population remains jobless. The unemployment rate in Greece this year may reach 28% and 25% in Spain. High youth unemployment, especially in Spain and Greece, where the level exceeds to 50%, and in Slovakia, Italy and Portugal where it reaches 30%, is the most problematic case to solve. The perspective of slow economic growth as well as the tense situation for enterprises trying to improve their business results while undertaking difficulties with credit access, will have an impact on a very slow decline of unemployment over next two years. (EY)

DID YOU KNOW...?

Chinese jewellery branded “the Polska Traveller”
An extraordinary artistic studio that specialises in handmade jewellery made from old, used, everyday metal objects from Poland was created in Hong Kong. Each item is branded with the evocative name tag “the Polska Traveller”.

For Yeung Sau Lun who lives in Hong Kong it was a trip to Poland that became an inspiration to create a brand that refers to the country’s name - “the Polska Traveller”. Under the brand unique jewellery made from old coins, medals or cutlery is created. Every time when the artist visits Poland, he buys materials in Polish antique shops and flea markets. Handmade jewellery “The Polska Traveller” earned its stripes in Hong Kong, China and Korea. (thepolskatraveller.com)


Cufflinks made from old Polish coins (source: thepolskatraveller.com)


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e-mail: redakcja@paiz.gov.pl
Polish Infomation and Foreign Investment Agency www.paiz.gov.pl

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