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Foreign Companies in Poland
The inflow of foreign investment projects to Poland has been constantly growing. By the end of the first half of 2007, it reached EUR 6.2 billion, which is by 27% more than last year. In 2006, total foreign investment rate stood at EUR 15.2 billion. World concerns have been establishing their factories in Poland, for instance, those manufacturing electronic equipment and cars. New service centers have also been built. Companies with foreign capital employ some 1.2 million people in our country. According to the data of Ernst&Young, last year, foreign concerns created over 31,000 workplaces in Poland, which makes the largest number in Europe.
Polish Managers
Poles have quickly become experts as far as investing in the area of Central and Eastern Europe is concerned. Polish specialists in funds management are sought after in financial institutions, where they have been successful in investments destined for the markets of our region. The capital market in Poland is much bigger than the ones in Hungary, the Czech Republic and Slovakia. It comes as no surprise, then that foreign investment companies which have little experience in investing in our region look for Poles to employ them as advisors in their teams.
When Euro in Poland
The Fitch agency forecasts that there is no chance for any of the states from Central and Eastern Europe to join Eurozone before 2012. According to Fitch analysts, Poland and the Czech Republic are the two countries that can first fulfill the criteria necessary to enter the European Monetary Union, still they will be able to do it in 2012-2013 at the earliest. The forecasts for Hungary are even worse as Fitch experts claim that it cannot introduce the Euro before 2014. In all the countries the main reason behind such situation is the lack of political will. Poland, Hungary and the Czech Republic may also have problems with maintaining the budget deficit at the level below 3% of GDP, which is one of the main criteria for entering Euroland.
'Hotel of the Future' in Warsaw
CitizenM, a Dutch hotel group, is to open its first, almost completely automated hotel in Amsterdam at the Schiphol airport, in 2008. The plans of the company foresee to build 20 hotels of the kind in 12 countries in Europe. At least one of these hotels is to be situated in Poland, the first of them in Warsaw. The Dutch company has been looking for an appropriate location that would have good transport connections with the city center. The hotels of this network are constructed within six months, from ready made elements. They may be situated not only directly on the ground but on roofs of other buildings as well. Services at the reception desk are to be completely automated, as the guests will be registering on their own at special computer terminals. The hotel bar will also be a self-service bar. Thanks to the savings generated in this way, the price of a room in the hotel is not to exceed EUR 69, including free Internet access, DVD films, luxury beds and regulated lighting.
Billions of Euro for Poland
The European Commission has approved investment projects related to innovative economy and Eastern Poland development. This means that Polish science and business are to get a capital injection of EUR 9.7 billion, while eastern regions of the country are to receive EUR 2.7 billion. Moreover, twenty operational programs have been already launched, thanks to which Poland will get EUR 36 billion from Brussels by 2013. In the next five years, we are to receive EUR 67.3 billion from the European Union. Thanks to those projects (the majority of them are related to financing of construction woks), Poland has a chance to become attractive for European companies.
IEA Open for Poland
The International Energy Agency (IEA) has accepted Polandís application for becoming a member of the organization. Poland motivated its application by stating that its policy is compliant with the objectives of the European Union and the IEA, as was written in the official announcement. The request was accepted at the session of the Directors of the IEA in Paris. The decision was justified by the important role that our country plays in the transit of energy raw materials to Europe. In its announcement, the IEA emphasized that Polandís entry to the organizationís structure is to contribute to energy-safety in Central and Eastern Europe because of its geographical location. However, Poland will have to extend its strategic reserves of oil and fuels to 45 million barrels by 2009. The IEA highlights the fact that Poland is not only the largest economy in Central and Eastern Europe, but also the biggest consumer and producer of energy in this part of the continent.
It Is Cheaper to Be Beautiful in Poland
In 2006, foreigners spent USD 65 million on massages, plastic surgeries and new teeth. It is expected that this year they are to spend even more, probably by one third. For example, the cost of a breast augmentation operation in the United Kingdom is EUR 6,250, in Germany - EUR 5,200 and in Poland - EUR 2,250 only. The price of face-lifting in the United Kingdom stands at EUR 8,000, in Germany - at EUR 6,800 while in Poland - at EUR 2,500. Nose correction in the United Kingdom costs EUR 5,000, in Germany - EUR 3,500 and in Poland EUR 1,300 only. And finally - for liposuction in the United Kingdom you have to pay EUR 4,850, in Germany - EUR 3,000 and in Poland - just EUR 1,000.
In German Shoes
Monnari, a clothing company, has signed a letter of intent with the Wortmann group, a German shoe manufacturer. The agreement deals with establishing a network of Tamaris shoes shops in Poland. The brand has been present in Poland for ten years in stores selling various products, and now it will start operating independently. The first shop was opened in Cracow, and there are two more to be established by the end of the year, and fifteen more are planned for the next year. The company believes that in Poland, there is a good market for a hundred of its shops and they are to be established within the next few years. Monnari is also planning to build its shops intensely. At the end of 2007, the number of them is to reach 180.
The inflow of foreign investment projects to Poland has been constantly growing. By the end of the first half of 2007, it reached EUR 6.2 billion, which is by 27% more than last year. In 2006, total foreign investment rate stood at EUR 15.2 billion. World concerns have been establishing their factories in Poland, for instance, those manufacturing electronic equipment and cars. New service centers have also been built. Companies with foreign capital employ some 1.2 million people in our country. According to the data of Ernst&Young, last year, foreign concerns created over 31,000 workplaces in Poland, which makes the largest number in Europe.
Polish Managers
Poles have quickly become experts as far as investing in the area of Central and Eastern Europe is concerned. Polish specialists in funds management are sought after in financial institutions, where they have been successful in investments destined for the markets of our region. The capital market in Poland is much bigger than the ones in Hungary, the Czech Republic and Slovakia. It comes as no surprise, then that foreign investment companies which have little experience in investing in our region look for Poles to employ them as advisors in their teams.
When Euro in Poland
The Fitch agency forecasts that there is no chance for any of the states from Central and Eastern Europe to join Eurozone before 2012. According to Fitch analysts, Poland and the Czech Republic are the two countries that can first fulfill the criteria necessary to enter the European Monetary Union, still they will be able to do it in 2012-2013 at the earliest. The forecasts for Hungary are even worse as Fitch experts claim that it cannot introduce the Euro before 2014. In all the countries the main reason behind such situation is the lack of political will. Poland, Hungary and the Czech Republic may also have problems with maintaining the budget deficit at the level below 3% of GDP, which is one of the main criteria for entering Euroland.
'Hotel of the Future' in Warsaw
CitizenM, a Dutch hotel group, is to open its first, almost completely automated hotel in Amsterdam at the Schiphol airport, in 2008. The plans of the company foresee to build 20 hotels of the kind in 12 countries in Europe. At least one of these hotels is to be situated in Poland, the first of them in Warsaw. The Dutch company has been looking for an appropriate location that would have good transport connections with the city center. The hotels of this network are constructed within six months, from ready made elements. They may be situated not only directly on the ground but on roofs of other buildings as well. Services at the reception desk are to be completely automated, as the guests will be registering on their own at special computer terminals. The hotel bar will also be a self-service bar. Thanks to the savings generated in this way, the price of a room in the hotel is not to exceed EUR 69, including free Internet access, DVD films, luxury beds and regulated lighting.
Billions of Euro for Poland
The European Commission has approved investment projects related to innovative economy and Eastern Poland development. This means that Polish science and business are to get a capital injection of EUR 9.7 billion, while eastern regions of the country are to receive EUR 2.7 billion. Moreover, twenty operational programs have been already launched, thanks to which Poland will get EUR 36 billion from Brussels by 2013. In the next five years, we are to receive EUR 67.3 billion from the European Union. Thanks to those projects (the majority of them are related to financing of construction woks), Poland has a chance to become attractive for European companies.
IEA Open for Poland
The International Energy Agency (IEA) has accepted Polandís application for becoming a member of the organization. Poland motivated its application by stating that its policy is compliant with the objectives of the European Union and the IEA, as was written in the official announcement. The request was accepted at the session of the Directors of the IEA in Paris. The decision was justified by the important role that our country plays in the transit of energy raw materials to Europe. In its announcement, the IEA emphasized that Polandís entry to the organizationís structure is to contribute to energy-safety in Central and Eastern Europe because of its geographical location. However, Poland will have to extend its strategic reserves of oil and fuels to 45 million barrels by 2009. The IEA highlights the fact that Poland is not only the largest economy in Central and Eastern Europe, but also the biggest consumer and producer of energy in this part of the continent.
It Is Cheaper to Be Beautiful in Poland
In 2006, foreigners spent USD 65 million on massages, plastic surgeries and new teeth. It is expected that this year they are to spend even more, probably by one third. For example, the cost of a breast augmentation operation in the United Kingdom is EUR 6,250, in Germany - EUR 5,200 and in Poland - EUR 2,250 only. The price of face-lifting in the United Kingdom stands at EUR 8,000, in Germany - at EUR 6,800 while in Poland - at EUR 2,500. Nose correction in the United Kingdom costs EUR 5,000, in Germany - EUR 3,500 and in Poland EUR 1,300 only. And finally - for liposuction in the United Kingdom you have to pay EUR 4,850, in Germany - EUR 3,000 and in Poland - just EUR 1,000.
In German Shoes
Monnari, a clothing company, has signed a letter of intent with the Wortmann group, a German shoe manufacturer. The agreement deals with establishing a network of Tamaris shoes shops in Poland. The brand has been present in Poland for ten years in stores selling various products, and now it will start operating independently. The first shop was opened in Cracow, and there are two more to be established by the end of the year, and fifteen more are planned for the next year. The company believes that in Poland, there is a good market for a hundred of its shops and they are to be established within the next few years. Monnari is also planning to build its shops intensely. At the end of 2007, the number of them is to reach 180.
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Information published at 4 November 2007
