Current issue:
ABOUT BUSINESS - 06.2009
Assets of the Polish economy
Foreign businesspeople appreciate the assets of the Polish economy more and more. Our country is rising in the ranks as a place where it is worth building factories. Our country advanced from the 15th to the 5th place in the latest ranking of investment attractiveness by Price Waterhouse Coopers (PWC). Of the 20 countries listed, Poland is surpassed only by Chile, Bulgaria, Malaysia and China. Poland is distinguished by its large job market, stable political situation, and membership in the EU, among other things. According to PWC, many research facilities and automobile, biotech and electronics factories will be built in Poland. Low costs are also appealing. However, the influx of investment is weakened by the crisis. Last year, it decreased from 16.6 to 12 billion euro. This year, it could fall to 6-7 billion euro. The PWC ranking is the latest of a number of positive ones. In 2008, 834 managers from 43 countries surveyed by Ernst & Young identified Poland as the best place to for new investments in Europe.
Low inflation
The Polish government has presented the guidelines according to which next year’s budget will be created. According to the Ministry of Finance, our economy will grow by 0.5 to 1.3%. Inflation will amount to 1.5-1.9%. Low inflation, according to forecasts by the ministry, will result from a drop in domestic and foreign demand. This data does not differ from forecasts by the European Commission, who have predicted 0.8% GDP growth in 2010 and inflation at 1.9%.
The crisis is not that terrible
The Polish Business Centre Club presented the results of a survey carried out with companies operating in our country which says that 89% of companies feel the effects of the world crisis, but 69% do not foresee any serious danger to their financial liquidity. The survey was taken at the end of April 2009, among around two thousand members of the Business Centre Club.
The power industry will get richer
Poland’s power industry will receive an enormous cash injection. The European Parliament will decide which energy projects in Poland will receive the EU financing. Four billion euro is available to be divided up. Poland will be allotted at least 570 million euro, for five projects. This money can be spent by the end of 2010. The largest amount, at 180 million euro, might go to the installation of clean burning coal – CCS in Be³chatów (pictured). 150 million euro may go to a wind machine project on the Baltic, and the Skanled gas line from the Norwegian sea to the Polish coast (currently suspended, but not unwanted). More than 80 million euro will go to the LNG gas port in Świnoujście, and 10 million euro to energetic links between Poland and Slovakia.
The most popular cars
In the first quarter of this year, the most popular brand of new cars in Poland was Fiat. However, in rankings of particular models of cars, Czech-manufactured cars are in the lead – Fabia and Octavia are the most frequently purchased car models. In the top ten most popular, the biggest increase in sales went to Volkswagen Golf, and Toyota Yaris dropped the most. The list of the most popular car brands sold in Poland is as follows: Skoda Fabia (4,131), Skoda Octavia (3,768), Toyota Yaris (2,787), Fiat Punto (2,719), Fiat Panda (2,717), VW Golf (2,692), Kia (2,626), Opel Astra (2,333), Ford Focus (2,253), Toyota Avensis (2,067).
Varsovian eurobonds
Warsaw has issued 5-year bonds with a fixed rate, which will be listed on the stock market in Luxemburg. The value of the bonds is 200 million euro, and the coupon paid out annually amounts to 6.88%. The emission was organized by Deutsche Bank and BNP Paribas. Soon, Poland’s capital will issue bonds on the domestic market. The money gained will be relegated to the construction of the second line for the Warsaw Metro (subway), among other things.
Eurocentrum in Warsaw
In the first quarter of next year, the construction of a large office complex on Warsaw’s Jerozolimskie Avenue will begin. This fifteen-storey office building with a total area of around 70 thousand square meters is an investment by the CP Realty II fund, belonging to the Capital Park Group. The architectonic concept of the building includes the Alpha building, which has been next to it since 2002. Eurocentrum will be a complex of four interconnected contemporary class-A office buildings, offering one of the largest amounts of space in that part of the city. On the ground floor of the building, the entrance will be connected to a two-storey passage, which will create an indoor street. There will be coffee shops, restaurants and services inside.
Subsidies for buying cars
The Polish government would like to implement ecological subsidies relatively soon for the purchase of new cars – said the deputy prime minister and the minister of the economy, Waldemar Pawlak, in an interview for „Frankfurter Allgemeine Zeitung”. The deputy prime minister emphasized that the goal, aside from stimulating demand, is supposed to be environmental protection. However, Pawlak did not state the amount of these subsidies.
Innovation outside of the crisis
Companies which are carrying out innovative activities in Poland felt the effects of the financial crisis to a limited degree, according to the Institute of Economics in the Polish Academy of Science (PAN). On average, they spent 6.85 million zloty on research and development. Nearly 30% of innovation companies showed no negative effects of the crisis, and around a 20% drop in demand for innovative products was noted.
Competition for PKP
Starting on the 1st of January, 2010, Polskie Koleje Państwowe (PKP – the Polish State Railway) will have competition, because the market for railway passenger transport will be opened in the European Union. Foreign competition will appear, causing ticket prices to drop and rail service to improve.
Foreign businesspeople appreciate the assets of the Polish economy more and more. Our country is rising in the ranks as a place where it is worth building factories. Our country advanced from the 15th to the 5th place in the latest ranking of investment attractiveness by Price Waterhouse Coopers (PWC). Of the 20 countries listed, Poland is surpassed only by Chile, Bulgaria, Malaysia and China. Poland is distinguished by its large job market, stable political situation, and membership in the EU, among other things. According to PWC, many research facilities and automobile, biotech and electronics factories will be built in Poland. Low costs are also appealing. However, the influx of investment is weakened by the crisis. Last year, it decreased from 16.6 to 12 billion euro. This year, it could fall to 6-7 billion euro. The PWC ranking is the latest of a number of positive ones. In 2008, 834 managers from 43 countries surveyed by Ernst & Young identified Poland as the best place to for new investments in Europe.
Low inflation
The Polish government has presented the guidelines according to which next year’s budget will be created. According to the Ministry of Finance, our economy will grow by 0.5 to 1.3%. Inflation will amount to 1.5-1.9%. Low inflation, according to forecasts by the ministry, will result from a drop in domestic and foreign demand. This data does not differ from forecasts by the European Commission, who have predicted 0.8% GDP growth in 2010 and inflation at 1.9%.
The crisis is not that terrible
The Polish Business Centre Club presented the results of a survey carried out with companies operating in our country which says that 89% of companies feel the effects of the world crisis, but 69% do not foresee any serious danger to their financial liquidity. The survey was taken at the end of April 2009, among around two thousand members of the Business Centre Club.
The power industry will get richer
Poland’s power industry will receive an enormous cash injection. The European Parliament will decide which energy projects in Poland will receive the EU financing. Four billion euro is available to be divided up. Poland will be allotted at least 570 million euro, for five projects. This money can be spent by the end of 2010. The largest amount, at 180 million euro, might go to the installation of clean burning coal – CCS in Be³chatów (pictured). 150 million euro may go to a wind machine project on the Baltic, and the Skanled gas line from the Norwegian sea to the Polish coast (currently suspended, but not unwanted). More than 80 million euro will go to the LNG gas port in Świnoujście, and 10 million euro to energetic links between Poland and Slovakia.
The most popular cars
In the first quarter of this year, the most popular brand of new cars in Poland was Fiat. However, in rankings of particular models of cars, Czech-manufactured cars are in the lead – Fabia and Octavia are the most frequently purchased car models. In the top ten most popular, the biggest increase in sales went to Volkswagen Golf, and Toyota Yaris dropped the most. The list of the most popular car brands sold in Poland is as follows: Skoda Fabia (4,131), Skoda Octavia (3,768), Toyota Yaris (2,787), Fiat Punto (2,719), Fiat Panda (2,717), VW Golf (2,692), Kia (2,626), Opel Astra (2,333), Ford Focus (2,253), Toyota Avensis (2,067).
Varsovian eurobonds
Warsaw has issued 5-year bonds with a fixed rate, which will be listed on the stock market in Luxemburg. The value of the bonds is 200 million euro, and the coupon paid out annually amounts to 6.88%. The emission was organized by Deutsche Bank and BNP Paribas. Soon, Poland’s capital will issue bonds on the domestic market. The money gained will be relegated to the construction of the second line for the Warsaw Metro (subway), among other things.
Eurocentrum in Warsaw
In the first quarter of next year, the construction of a large office complex on Warsaw’s Jerozolimskie Avenue will begin. This fifteen-storey office building with a total area of around 70 thousand square meters is an investment by the CP Realty II fund, belonging to the Capital Park Group. The architectonic concept of the building includes the Alpha building, which has been next to it since 2002. Eurocentrum will be a complex of four interconnected contemporary class-A office buildings, offering one of the largest amounts of space in that part of the city. On the ground floor of the building, the entrance will be connected to a two-storey passage, which will create an indoor street. There will be coffee shops, restaurants and services inside.
Subsidies for buying cars
The Polish government would like to implement ecological subsidies relatively soon for the purchase of new cars – said the deputy prime minister and the minister of the economy, Waldemar Pawlak, in an interview for „Frankfurter Allgemeine Zeitung”. The deputy prime minister emphasized that the goal, aside from stimulating demand, is supposed to be environmental protection. However, Pawlak did not state the amount of these subsidies.
Innovation outside of the crisis
Companies which are carrying out innovative activities in Poland felt the effects of the financial crisis to a limited degree, according to the Institute of Economics in the Polish Academy of Science (PAN). On average, they spent 6.85 million zloty on research and development. Nearly 30% of innovation companies showed no negative effects of the crisis, and around a 20% drop in demand for innovative products was noted.
Competition for PKP
Starting on the 1st of January, 2010, Polskie Koleje Państwowe (PKP – the Polish State Railway) will have competition, because the market for railway passenger transport will be opened in the European Union. Foreign competition will appear, causing ticket prices to drop and rail service to improve.
Found in our archive:
Information published at 3 June 2009