Business opportunities in Poland Dawid Tomaszewski Political-Economic Section Embassy of the...
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Transcript of Business opportunities in Poland Dawid Tomaszewski Political-Economic Section Embassy of the...
Business opportunities in PolandDawid Tomaszewski
Political-Economic Section
Embassy of the Republic of Poland
Jelgava, December 01, 2010
Poland - Key Facts
Area: 322 575 sq km – 6th in European Union
Population: 38,12 million – 6th in European Union
Currency: Polish Zloty (1 EUR ~ 4.00 PLN) 1 LVL ~ 5.55 PLN)
GDP growth: 6.7% (2007), 4.8% (2008), 1.7% (2009)
Membership: EU, NATO, OECD, WTO, Schengen Zone
Stable and fast economic growth (GDP in bn USD)
Beginning oftransformation
Entry into the NATO
OECD
WTO
Schengen
Poland joins the EU
0
100
200
300
400
500
Source: International Monetary Found, World Economic Outlook Database, Oct 2007
Competitive Advantages
Location & economic fundamentals
strategic location in continental Europe part of trans-european transportation corridor the only country with the positive GDP growth in 2009 in EU (1.7%) 38 million of consumers
Investment incentives14 Special Economic Zones over 110 bn USD from EU
Labor force young, well-educated work force ca 11% of university students in the EU 456 universities & high education schools
1000 km radius
250 mn people
2000 km radius
550 mn people
GDP growth• 4.8% in 2008 vs 0.8% in the EU• 1.7% in 2009 vs -4.2% in the EU• 2.2% forecasted in Poland vs
0.7% in the EU for 2010 (IMF)• domestic demand - the main factor
behind the growth
Inflation (CPI) and interest rates
Source: Ministry of Finance, NBP, Eurostat 2010
Poland: Encouraging Macro-economic Picture
-5
-3
-1
1
3
5
7
2002
2003
2004
2005
2006
2007
2008
2009
%
EU27 Euro Zone Poland
GDP growth rate
Inflation • 4.0% in 2009 vs 1.0% in EU• direct inflation targeting since 1999 - target of 2.5% +/-1%
0
2
4
6
8
10
12
2002 2003 2004 2005 2006 2007 2008 2009 2010
%
CPI NBP reference rate
„Velvet crisis” in Poland
Reasons according to Prof. Leszek Balcerowicz:
1. Stricter banks’ credit policies before crisis compared to other countries
2. No dynamic growth of foreign debt as in other countries
3. Financial instruments far less sophisticated as in the USA
4. Smaller influence of stock market on the economy than in the USA
5. Falling natural resources prices
Poland is much less affected by the crisisthan neighbouring countries
0
10
20
2004
2005
2006
2007
2008
2009
2010
%
Source: GUS 2010
Over 20%
10/201011.5%
Poland: Falling Unemployment
443
171
88
132
453
65
289 21
58
0
50
100
150
200
250
300
350
400
450
500
Humanities &social
sciences
Science ICT Engineering B&A and Law
tho
usa
nd
s
Students
Graduates
Study in Poland
POZNAN
WROCLAW
WARSAW
KRAKOW
LODŹ
SZCZECIN
TRICITY
KATOWICE
BYDGOSZCZ-TORUN BIALYSTOK
LUBLIN
RZESZOW
Main academic centers
Source: Polish Statistical Office 2009
Knowledge of Foreign Languages
57% Poles is able to speak at least one foreign language,
• 32% of Poles speak two, • 4% - three languages.
Similar situation in EU: • 56% of EU citizens speak
one foreign language,• 28% - two languages.
Percentage of young Poles speaking foreign languages
Learning of foreign languages is obligatory in the Polish education system
Source: Eurostat 2006, TNS Opinion & Social (UK) December 2006, Ranstadt 2008
97%
59%
37%
22%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
English German Russian French
Special Economic Zones
A special economic zone (SEZ) is a designated area in which manufacturing or distribution activities can be conducted on preferential terms
The purpose of SEZs is to support regional development Currently, there are 14 SEZs in Poland, each consisting of
several subzones Total area of all SEZ – 20 000 hectares SEZ will operate until 2015-2017 and more Permits to conduct activities in SEZ are issued by the authorities
of each SEZ Possibility of including the land selected by an investor into SEZ
Benefits from obtaining a permit to conduct activities in SEZ :•eligibility for income tax exemption – a form of regional aid•plot of land prepared for an investment project, available at a competitive price•free assistance in dealing with formalities relating to the investment project
Road network in Poland, 2006
Under construction
ready
Gdansk
Warszawa Poznan
Wroclaw
EURO 2012 in Poland
Road network, 2012.
Under construction
ready
Cooperation
Polish export to Latvia in 2009 was 551,81 ml EURPolish import from Latvia in 2009 was 125,10 ml EUR
(balance 426,71 ml EUR – 4,4x)
Export to Latvia in January-June 2010 was 304,26 ml EURImport from Latvia January-June 2010 was 79,12 ml EUR
(balance 225,14 ml EUR – 3,8x)
Dynamics in January-June 2010 was 114% (import and export)
Polish export to Latvia (January-August 2010)
Poland – 4 on the list of Latvian import partners
Polish import from Latvia (January-August 2010)
Poland – 6 on the list of Latvian export partners
Investment
• Polish FDI stock to Latvia in the end of IIQ of 2010 was 5,83 ml EUR (3,41 ml EUR in wholesale and retail trade, 1,99 ml EUR in manufacturing and 0,43 ml EUR in real estate)
• Latvian FDI stock to Poland in the end of IIQ 2010 was 32,73 ml EUR (all in wholesale and retail trade)
Source: Bank of Latvia
Who we are?How to get information?
Thank you for your attention
Embassy of the Republic of PolandPolitical-Economic Section
Riga, Mednieku iela 6b, 1010 LVtel. (371) 6703 15 24, fax (371) 6703 15 49
e-mail: [email protected]