Current issue:
ABOUT BUSINESS - 04.2008
A new airport in Gdynia
Within the next three years, a new civil airport will have been built in Gdynia, using existing military infrastructure. The cost of the investment is estimated at 100 million zloty. The Gdynia-Kosakowo airport is supposed to be constructed 7 kilometers from the center of the city, and 3 kilometers from the sea port. It will serve general aviation purposes, charters, cargo shipments and cheap airlines.
Privatization moving forward
By the end of February of this year, income from privatization in our country amounted to 71.2 million zloty. When the change in government took place in October of 2007, the Minister of the Treasury began 55 privatizations, and to date, 15 have been finalized. This yearís income from privatization is expected to be 2.3 billion zloty. The Minister of the Treasury claimed in the Sejm that the national budget may receive as much as 5.5 billion zloty from privatization this year. Over a period of four years, income from privatization is expected to reach as much as 28 billion zloty.
Volvo in Wrocław
The directors of the Volvo concern have decided to move production of model 8700 intercity buses to Wrocław. A related decision was made that the factory in Tampere, Finland would be closed and bus monocoque factory in Turku would be reorganized. These moves are intended to adjust efficiency to the needs of the market, according to an announcement by Volvo. Unfortunately, the reorganization will result in a reduction of employees in Finland, amounting to a loss of about 300 jobs. Volvo will be one of the largest bus producers, having four factories: two in Finland (in Turku and Tampere), in Sweden (in Saeffle) and in Wrocław.
Poland - Ukraine
Poland and Ukraine are liberalizing their airline industries. The governments of both countries have agreed to connections between more cities, such as Cracow, Katowice and Dniepropietrowska. Up to now, flights were available from Warsaw, Kiev, Odessa and Lvov. The flights still have to be formalized in trade agreements.
Polish export is doing well
The sales of Polish products abroad are increasing. Even though export dynamism will drop this year because of the worsening world economy, sale levels will still be quite high. Last year, Polish companies sold merchandise abroad that was worth more than 101.1 billion euros. Export was 15% higher compared to that in 2006. This growth in exports, according to experts, was brought on by Polandís accession into the European Union, because of which factories were built here with foreign capital; they add to the countryís exports. Analysts say that this year the expansion of Polish companies in foreign markets has decreased slightly, but that this is nothing to worry about, because there are signals from Germany that its economy is improving. Polish companies will still be able to find end customers there. Polish trade with the East is also getting better. Last year, Polish exports to Russia increased by more than 25%, and import rose by only 7%.
Infiniti in Warsaw
Cars made by Infiniti will be available to Europe, and in Poland, too. Infiniti, which is owned by Nissan, is a luxurious brand which was created, like Acura (Honda) or Lexus (Toyota), to raise the prestige of Japanese cars in the United States. In our country, Infiniti is going to be sold by Polska Grupa Dealerów, a network of dealerships that offer the models of many brands, such as Volvo, Ford and Nissan. The sales of Infiniti will begin this October. The first Infiniti dealership in Warsaw will be located at the Centrum Motoryzacyjne Toruńska Complex, which, up to now, has been selling Fords, Fiats, Suzukis and Nissans. Four Infiniti models will be available: the new off-road coupe EX37, and the sporty/off-road FX, as well as the G37 and sedan, which have received a number of industry awards.
The Scottish are buying a mine
The Scottish are buying a Polish mine, Silesia, in Czechowice-Dziedzice. By the end of June, the Scottish Gibson Group International is supposed to have paid 205 million zloty, plus 22 % VAT for the Polish mine. That is nearly twice its estimated value, which amounted to 111 million zloty. The tender for the sale of Silesia was announced in the fall of last year, when it became clear that Kompania WÍglowa, the owner of Silesia, was not able to deal with the financial situation of the mine which brought losses. Gibson Group International has guaranteed that it will sign a social package agreement for the crew.
Poland in fifth place
Poland has taken fifth place in a ranking by the European Commission regarding the competitiveness of the 14 largest economies of the European Union. The report was prepared by a team of economists under the direction of Prof. Michael Heise, the chief economist of the Allianz Group. The overall point total of the ranking was influenced by factors like economic growth, efficiency, the employment rate, and public debt. Poland moved from sixth place to fifth, and surpassed countries like Great Britain, Germany, and Spain. The Commission valued the efficiency of Polish enterprises, and the high dynamic of GDP growth. It was most pleased by the fact that as many as 11 of the 14 countries researched were developing at a faster rate than the American economy.
The success of Commercial Union
Commercial Union, one of the largest insurance groups in Poland, finished last year with record-high results. The life company made more than 3.1 billion zloty, which is 28 % more than last year. This allowed for profits of 440 million zloty. Representatives of Commercial Union claim that such significant growth in the value of insurance fees was made possible, above all, by sales of bancassurance (assurfinance), and greater interest among clients in products with one-time fees.
Within the next three years, a new civil airport will have been built in Gdynia, using existing military infrastructure. The cost of the investment is estimated at 100 million zloty. The Gdynia-Kosakowo airport is supposed to be constructed 7 kilometers from the center of the city, and 3 kilometers from the sea port. It will serve general aviation purposes, charters, cargo shipments and cheap airlines.
Privatization moving forward
By the end of February of this year, income from privatization in our country amounted to 71.2 million zloty. When the change in government took place in October of 2007, the Minister of the Treasury began 55 privatizations, and to date, 15 have been finalized. This yearís income from privatization is expected to be 2.3 billion zloty. The Minister of the Treasury claimed in the Sejm that the national budget may receive as much as 5.5 billion zloty from privatization this year. Over a period of four years, income from privatization is expected to reach as much as 28 billion zloty.
Volvo in Wrocław
The directors of the Volvo concern have decided to move production of model 8700 intercity buses to Wrocław. A related decision was made that the factory in Tampere, Finland would be closed and bus monocoque factory in Turku would be reorganized. These moves are intended to adjust efficiency to the needs of the market, according to an announcement by Volvo. Unfortunately, the reorganization will result in a reduction of employees in Finland, amounting to a loss of about 300 jobs. Volvo will be one of the largest bus producers, having four factories: two in Finland (in Turku and Tampere), in Sweden (in Saeffle) and in Wrocław.
Poland - Ukraine
Poland and Ukraine are liberalizing their airline industries. The governments of both countries have agreed to connections between more cities, such as Cracow, Katowice and Dniepropietrowska. Up to now, flights were available from Warsaw, Kiev, Odessa and Lvov. The flights still have to be formalized in trade agreements.
Polish export is doing well
The sales of Polish products abroad are increasing. Even though export dynamism will drop this year because of the worsening world economy, sale levels will still be quite high. Last year, Polish companies sold merchandise abroad that was worth more than 101.1 billion euros. Export was 15% higher compared to that in 2006. This growth in exports, according to experts, was brought on by Polandís accession into the European Union, because of which factories were built here with foreign capital; they add to the countryís exports. Analysts say that this year the expansion of Polish companies in foreign markets has decreased slightly, but that this is nothing to worry about, because there are signals from Germany that its economy is improving. Polish companies will still be able to find end customers there. Polish trade with the East is also getting better. Last year, Polish exports to Russia increased by more than 25%, and import rose by only 7%.
Infiniti in Warsaw
Cars made by Infiniti will be available to Europe, and in Poland, too. Infiniti, which is owned by Nissan, is a luxurious brand which was created, like Acura (Honda) or Lexus (Toyota), to raise the prestige of Japanese cars in the United States. In our country, Infiniti is going to be sold by Polska Grupa Dealerów, a network of dealerships that offer the models of many brands, such as Volvo, Ford and Nissan. The sales of Infiniti will begin this October. The first Infiniti dealership in Warsaw will be located at the Centrum Motoryzacyjne Toruńska Complex, which, up to now, has been selling Fords, Fiats, Suzukis and Nissans. Four Infiniti models will be available: the new off-road coupe EX37, and the sporty/off-road FX, as well as the G37 and sedan, which have received a number of industry awards.
The Scottish are buying a mine
The Scottish are buying a Polish mine, Silesia, in Czechowice-Dziedzice. By the end of June, the Scottish Gibson Group International is supposed to have paid 205 million zloty, plus 22 % VAT for the Polish mine. That is nearly twice its estimated value, which amounted to 111 million zloty. The tender for the sale of Silesia was announced in the fall of last year, when it became clear that Kompania WÍglowa, the owner of Silesia, was not able to deal with the financial situation of the mine which brought losses. Gibson Group International has guaranteed that it will sign a social package agreement for the crew.
Poland in fifth place
Poland has taken fifth place in a ranking by the European Commission regarding the competitiveness of the 14 largest economies of the European Union. The report was prepared by a team of economists under the direction of Prof. Michael Heise, the chief economist of the Allianz Group. The overall point total of the ranking was influenced by factors like economic growth, efficiency, the employment rate, and public debt. Poland moved from sixth place to fifth, and surpassed countries like Great Britain, Germany, and Spain. The Commission valued the efficiency of Polish enterprises, and the high dynamic of GDP growth. It was most pleased by the fact that as many as 11 of the 14 countries researched were developing at a faster rate than the American economy.
The success of Commercial Union
Commercial Union, one of the largest insurance groups in Poland, finished last year with record-high results. The life company made more than 3.1 billion zloty, which is 28 % more than last year. This allowed for profits of 440 million zloty. Representatives of Commercial Union claim that such significant growth in the value of insurance fees was made possible, above all, by sales of bancassurance (assurfinance), and greater interest among clients in products with one-time fees.
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Information published at 1 April 2008
