POLISH INFOMATION AND FOREIGN INVESTMENT AGENCY
NEWSLETTER
 January 8th, 2015,
 Issue 415

NEWS

LOT - Safest Airlines for 2015
According to the latest AirlineRatings ratings, Polish airlines LOT has been listed among the safeties airlines in the world.

AirlineRatings.com has announced its top ten safest airlines and top ten safest low cost airlines for 2015 from the 449 it monitors. Top of the list again is Qantas which has a fatality free record in the jet era. Making up the remainder of the top ten in alphabetical order there are: Air New Zealand, British Airways, Cathay Pacific Airways, Emirates, Etihad Airways, EVA Air, Finnair, Lufthansa and Singapore Airlines. LOT was on 11 positions. All of the above airlines received maximum safety assessment 7 on 7 points. (www.airlineratings.com)

INVESTMENTS IN POLAND

2014: final results in investments
PAIiIZ finished 2014 year with 54 completed investment projects worth €1816.84m in total and with 8,788 new jobs. The Agency is entering a New Year with 154 investments with a total value of €2928.59m. Due to all of them 30,013 new jobs are expected to be created in Poland.

The US with 53 projects is the country with the biggest number of ongoing project supported by PAIiIZ. Together they are worth €1004.61m and they can bring 7,302 new jobs to Poland. German investors are the second. They provide 20 projects (€300.65 m; 3,903 new jobs). France is the third on the list of the countries with the biggest number of investments supported by PAIiIZ. The country has 11 projects in Poland that are worth €210,7m and should generate 2,369 new jobs to Poland. Fourth place is held by Japan (8 projects) while fifth by Italy (7 projects).


© auris-Fotolia.com

There are two most popular sectors foreign investors operating in Poland. Those are BPO and automotive industries. Each of them provide 33 ongoing projects. Business process outsourcing investments in Poland are worth €29.85m in total while all ongoing projects from automotive sector have a value of € 648.25m and can deliver 6,610 new jobs to Poland. Among others most popular sectors there are R&D (17 investment projects worth €58,64 m; 1,944 new jobs); aviation (11 projects; €352.8 m; 1,429 new jobs); electronics and wood - 9 projects each. (PAIiIZ)

PAIiIZ next completed project with Grupa Armatura
In December 2014, Grupa Armatura took over Grupa Aquaform acquiring a majority stake in Aquaform SA, together with its subsidiaries in Germany, Romania and Ukraine. Until recently, Aquaform SA was owned by German group Dusar, selling high quality sanitary products in the markets of Western Europe, including in particular the German market.

Aquaform SA is a manufacturer of a wide range of sanitary products as: acrylic bathtubs and shower trays shower screens as well as bathroom furniture. The company employs about 200 people. Nearly half of the company’s annual revenue that reaches PLN 69m is obtained on the German market, where Aquaform SA has been present since 20 years.

The project was led by PAIiIZ. (Armatura SA/PAIiIZ)

LS Tech-Homes in the Pomeranian Special Economic Zone
LS Tech-Homes will invest PLN 23m and employ 35 people in Sztum Subzone.

The investor will build a plant for ecological building materials’ production. This is the second permit issued LS Tech-Homes in 2014.

Throughout 2014, Pomeranian Special Economic Zone issued 36 permits for business activities. Due to that nearly 1,055 new jobs should be created, while the total declared expenditure will amount to about PLN 2.5 bn. (PSEZ)

Słupsk SEZ gets bigger
On 7 January 2015, the Council of Ministers adopted a regulation expanding the area of the Słupsk Special Economic Zone. More than 82 hectares of land will be included to the zone. Until now, the zone will cover plots in Darłów, Koszalin and Lębork.

It is estimated that on the newly added grands to the zone 1,816 jobs should be created and the total value of new investment should reach nearly PLN 637m. As a result of the expantion of Słups SEZ the total are of the zone will reach nearly 900 hectares. (Ministry of Economy)

Legnica SEZ in investments - a summary of 2014
During the last twelve months, Legnica SEZ issued 18 business permits. New investors declared investment outlays in the amount of PLN 1.028bn and the creation of 543 new jobs. In addition, the zone has been extended by more than 15 hectares.

Among the biggest investments introduced in LSEZ in 2014 there are: Volkswagen Motor Poland which expands its plant in Polkowice Subzone (the value of investment: about PLN 246m; employment 18 people), Winkelmann which produces pressure expansion vessels for heating and automotive spare parts (the value of investment: PLN 150m; 10 new jobs) and Pittsburgh Glass Works (the value of investment: PLN 120m; 70 new employees).


Złotoryja Subzone (source: Legnicka SEZ)

Last year LSEZ also celebrated the ceremony of launching BASF’s European biggest factory producing emission catalysts for cars and trucks in Środa Śląska. BASF operates in the zone from July 2014. The value of investment has been estimated at about €150m and 400 people will be employed there. (SEZ)

MACROECONOMIC POLAND

  • Exchange rates (as of 08.01.2015):

Buy

Sell

USD

3.6064

3.6792

EUR

4.2620

4.3482

Source: www.nbp.pl

EVENTS

Food sector conference
"The new of investment incentives for the food sector" is the highlight of the conference that will be held on 12 January in PAIiIZ.

The meeting gathering representatives of Polish and foreign companies operating in the country that represent the food sector starts at 10.00 (registration from 9.15). During the conference, participants will discuss the opportunities of the sector development. Also investment inventive offered for food companies in Poland will be presented.

Accreditation is available online by www.paiz.gov.pl/przemysl_spozywczy until 9 January, 15:00.

The conference has been prepared by PAIIIZ in cooperation of Polish Federation of Food Industry (PFPZ) and honorary patronage by Ministry of Economy.

Press release will be held live, in English on Twitter #KPS2015.

More information: www.paiz.gov.pl/20150112/food_sector_conference. (PAIiIZ)

Outsourcing Stars 2014
On 13 January 2015, during the Great Outsourcing Stars Gala, the final of the Outsourcing Stars 2014 contest will be held. Ministry of Economy and PAIiIZ took the patronage over the event.

Outsourcing Stars is the only one non-commercial contest for outsourcing industry in Poland. The main goal of the contest is to find and award the fastest growing outsourcing companies and organizations directly connected with the industry. During the award Gala outsourcing summary of the year will be also held.

More information: www.OutsourcingStars.pl. (Pro Progressio)

ANALYSES AND REPORTS

Central and Eastern Europe in 2015
Erste Group Research Department published forecasts for countries of Central and Eastern Europe in 2015. It is expected that GDP will increase in the region by 2.5%, which means that the growth rate will double in the euro zone.

According to the report, despite geopolitical destabilization, financial markets have shown the resilience of the region, because a direct impact of the sanctions imposed by Russia on CEE countries is close to zero. This growing domestic demand and investment will drive the economy of the region in 2015. In the third quarter of 2014 household consumption grew by more than 2% in the Czech Republic, Romania and Poland and investment made economic growth go up an average of 1.4 percentage points. Therefore, economic growth in Central and Eastern Europe is not based solely on exports, what increase the stability of the region in view of the decline in external demand.

Generelly, the increase in the region's economies in 2015 is estimated at the level of about 2.5%. It is two times faster than it is forecasted for the euro zone. In 2015, GDP of Poland is expected to grow by 3.1%, so the country should remain the fastest growing economy in the region for the fifth year in a row. In contraty, in 2015, the growth in Czech Republic is expected to inrease at 2.4%, in Hungary by 2.3% and in Slovakia by 2.5%. (Erste Group)

Optimism of CFOs of Polish companies
52% of CFOs believe that the economic forecasts for Poland in 2015 will be good while only 6% expect the decrease in the economy, write authors Grant Thornton’s survey. This predominance of optimists over pessimists has not been so significant since many years - say experts.

67% of respondents claim that within the next year their revenues in the domestic market will increase and 65% of them expect export growth. According to CFOs, the biggest opportunities to increase export are expected in the European Union (58% votes), also Asia (21% votes) and Eastern Europe (19% votes). European Union will remain the position of the most important trading partner of the Polish companies, however, the importance of new global markets will growing.


© CARRÉ PIXEL-Fotolia.com

Optimist among the financial directors in Poland is visible. New investments are planed by 73% of CFOs directors and 72% of respondents consider entering new markets. However, over the next 12 months 70% of them are planning cost optimization.

The survey has been provided by Euler Hermes and Grant Thornton among more than 150 CFOs of Polish companies. (Grant Thornton)

DID YOU KNOW...?

The Great Orchestra of Christmas Charity
On Sunday, 11 January 23rd Final of the Great Orchestra of Christmas Charity stats. “Maintaining highest standards in the treatment of children in pediatric and oncology wards, as well as providing decent healthcare for the elderly” - this is the theme of the 23rd Grand Finale, as announced by Jerzy Owsiak.

Exactly on January 11 2015, 120,000 of our volunteers will set off to the streets of both Polish cities and many cities all over the world, in order to raise money to buy medical equipment for Polish hospitals. One of the important moments of the event is happening, which begins at 8 pm "Światełko do nieba" (“The light to the sky”).

In the 22 years of its work, the Great Orchestra of Christmas Charity Foundation has purchased almost PLN 590 m in support of Polish medicine. (www.en.wosp.org.pl)

Electronic coach - Snowcookie
Polish team of engineers, doctors, roboticists developers and skis enthusiasts created a device that will improve safety and redefine the technique of skiing.

Snowcookie drew worldwide attention in the middle of 2014. In those days a small component full with electronics was among the finalists of the international competition of Intel's "Make it Wearable". The aim of the competition was to select the best device worn near the body.

Snowcookie is a set of two small boxes attached to skis cooperating with the smartphone hidden in your pocket skier. In the neat enclosures hide pressure altimeters, GPS, temperature sensor and other devices, which have been designed to provide data about acceleration, jumps or ski load. Additionally Snowcookie has to cooperate with the iPhone which has a similar set of sensors. The device will be able to see the dynamics of the ski, which is the ratio of upper body work to the bottom. Due to that one can observe symptoms of muscle fatigue. Seeing user fatigue, the device can forestall a possible crisis and let know that it is better to give up the next donwhill ride. Except that, it is capable of prompt-to-date on the ski slope how to improve your skiing technique.

Snowcookie probably will appear in stores at the end of 2015 - it will cost approx. €200 for two "cookies" and the application on the smartphone. (www.polska.pl)


Editorial office: Polish Information and Foreign Investment Agency, 00-585 Warsaw, Bagatela Street 12
Information and Communication Department, tel: +48 22 334 99 49, fax: +48 22 334 99 99,
e-mail: redakcja@paiz.gov.pl
Polish Infomation and Foreign Investment Agency www.paiz.gov.pl

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