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Henryk Sanecki Consul, First Counselor Head of Trade & Investment Section Consulate General of the Republic of Poland 16 May 2013 Meeting with participants.

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Presentation on theme: "Henryk Sanecki Consul, First Counselor Head of Trade & Investment Section Consulate General of the Republic of Poland 16 May 2013 Meeting with participants."— Presentation transcript:

1 Henryk Sanecki Consul, First Counselor Head of Trade & Investment Section Consulate General of the Republic of Poland 16 May 2013 Meeting with participants of the mission to Poland

2 POLAND - Basic information Poland, with a population of over 38.5 million inhabitants, is the largest member of the European Union among all the countries of Central and Eastern Europe. In terms of the number of inhabitants, Poland is the 34th largest country in the world and the 6th largest in the EU. In terms of gross domestic product (GDP), Poland is the 8th biggest economy in the EU and the 21st biggest economy in the world (2010 GDP in current prices, USD-denominated, IMF, World Economic Outlook Database, October 2012).

3 Poland - Key Facts Area: sq km – 6 th in European Union ( sq miles – comparable with Arizona) Population:38,5 million – 6 th in European Union (– comparable with California) Currency:Polish Zloty (1 USD ~ 3.2 PLN, 1 EUR ~ 4.1 PLN) GDP:USD billion *(PPP, 2011) – IMF data USD 802,145 billion (PPP, 2012) – IMF estimates GDP per capita: USD 20, *(PPP, 2011) – IMF data USD 21, (PPP, 2012) – IMF estimates GDP growth:1.8% (2009), 3.9% (2010), 4.3% (2011), 1.9% (2012), 1.3%(EC forecast, 2013) Membership:EU, NATO, OECD, WTO, Schengen Zone * (PPP - Purchasing Power Parity)

4 2000 km radius 550 m people 1000 km radius 250 m people Labour force young, well-educated work force ca 11% of university students in the EU 460 universities & high education schools language proficiency increasing labour productivity Labour force young, well-educated work force ca 11% of university students in the EU 460 universities & high education schools language proficiency increasing labour productivity Location & economic fundamentals strategic location in continental Europe part of trans-European transportation corridor fourth fastest growing EU country in million consumers Location & economic fundamentals strategic location in continental Europe part of trans-European transportation corridor fourth fastest growing EU country in million consumers Investment incentives tax exemptions in 14 Special Economic Zones grants co-financed from the EU (EUR 90 bn) Investment incentives tax exemptions in 14 Special Economic Zones grants co-financed from the EU (EUR 90 bn) Competitive Advantages

5 Unemployment rate Mazowieckie 10.2% Podlaskie 13.9% Lubelskie 13% Podkarpackie 15.3% Małopolskie 10.6% Śląskie 10.2% Opolskie 13.1% Dolnośląskie 12.4% Lubuskie 14.9% Świętokrzyskie 14.9% Łódzkie 13% Wielkopolskie 9,1% Warmińsko- -Mazurskie 19.3% Pomoskie 12.1% Kujawsko- -Pomorskie 16.6% Zachodnio- -Pomorskie 16.5% 14% > % < as of the end of August 2012 Source: Central Statistical Office, August /2012 : 12.4%, thous. (labour force 16,99 M) YearUnemployedUnemployed with higher education

6 Harmonized unemployment rate in December 2012 in selected EU member states (source: Eurostat)

7 ICT Finances, B&A Science Engineering Students by major: Tri-City Lodz Warsaw Poznan Krakow Wroclaw Main academic centers Katowice The most popular majors

8 Talent shortage problem in Poland does not exist: only 4% of employers have trouble filling vacancies Poland ranks 1 st among 39 countries surveyed by Manpower Talent shortage problem in Poland does not exist: only 4% of employers have trouble filling vacancies Poland ranks 1 st among 39 countries surveyed by Manpower Talent shortage problem by country Source: Manpower 2011 Talent Shortage Survey

9 Foreign language capability by age groups Source: CBOS Survey 2009 Foreign language capability among students Learning of foreign languages is obligatory in the Polish education system English is the most popular foreign language in Poland Children learn foreign languages from the age of 6 Language proficiency is one of the strongest points for Poland as a BSS hub Foreign language capabilities Source: Hays, 2012

10 Hourly labour costs and trade union density Source: Eurostat, March 2012; OECD, Online OECD Employment database, May 2012 * data for 2009 (data for 2010 not available) ** data for 2008 (data for 2010 and 2009 not available Trade union density in OECD countries in 2010 (in %) Hourly labour costs in 2011 in EUR

11 Modernisation of roads and railroads network Source: GDDKiA, MT Till – 2020 New constructions After 2020 Railroads Highways and expressways: existing under construction planned

12 Passengers served by Polish airports (in millions) Source: The Civil Aviation Office, 2012 Air transport Direct flights to major European cities London Warsaw, Gdańsk, Wrocław, Kraków, Rzeszów, Szczecin, Bydgoszcz, Katowice, Poznan, Łódź Frankfurt Warsaw, Gdańsk, Wrocław, Poznań, Kraków, Katowice, Rzeszów Munich Warsaw, Gdańsk, Wrocław, Kraków, Poznań Paris Warsaw, Katowice, Kraków, Wroclaw, Poznań, Gdańsk Dublin Warsaw, Wrocław, Katowice, Kraków, Poznan, Gdansk, Bydgoszcz, Szczecin, Łódź, Rzeszów Oslo Warsaw, Katowice, Kraków, Wroclaw, Poznań, Gdańsk, Szczecin Milan Warsaw, Katowice, Kraków Dortmund Warsaw, Katowice, Wroclaw, Kraków, Poznan, Łódź Brussels Warsaw, Katowice, Kraków, Wrocław Location of main Polish airports European flights Domestic flights Overseas flights WARSZAWA SZCZECIN ZIELONA GÓRA BYDGOSZCZ ŁÓDŹ RZESZÓW WROCŁAW KATOWICE KRAKÓW GDAŃSK POZNAŃ Airports under construction MODLIN LUBLIN KILECE GDYNIA

13 Top business locations across the world Warsaw Ranked #12 Among Top Business Locations Across the World Source: CB Richard Rllis, 2011

14 Portugal - 1,6** GDP growth in the EU countries in 2011 in 2009 Poland avoided recession & experienced the highest GDP growth in Europe Source: Eurostat, 2012 in 2010 developed at one of the highest pace in Europe in 2011 Poland continued to develop at the pace three times higher then the EU average

15 Spending structure of Polish households in 2010 (in %) 21.8 Food 20.7 Housing & energy 9.1 Transport Recreation & culture 7.8 Restaurants & hotels 6.8 Alcohol & cigarettes 5.7 Clothing & footwear 5.2 Household equipment 4.9 Health 4.9 Communication 4.5 Other 8.6 Source: Central Statistical Office

16 FDI Attractiveness Source: FDI Intelligence Report, September 2011

17 International recognition 6 th place 6 th place as the most attractive FDI destination World Investment Report 2nd 2nd most attractive country for FDI in the next 3 years European Attractiveness Survey 3 rd place 3 rd place worldwide as the best quality location for manufacturing projects FDI Benchmark 2nd 2nd location in Eastern Europe and Russia offering the greatest revenue opportunities over next three years Emerging market growth strategies, practices and outlook

18 Top ranking destination countries by estimated jobs in Business Services Poland ranked 8th in the top destination countries by estimated jobs Poland no. 4 according to new jobs creation in Business Support Services Source: IBM Global Location Trends, 2011

19 Geographical sources of FDI in Poland Source: National Bank of Poland 2011

20 Polands foreign trade volumes in January-August 2012 – breakdown by countries (source: GUS)

21

22 Polands foreign trade volumes (source: GUS) Foreign trade – in 2012 exports grow faster than imports According to the newest data from GUS, exports grew faster than imports in the first eleven months of PLN-denominated exports in current prices were higher by 8.1% y/y and amounted to PLN bln. Imports, in turn, increased y/y by 3.2%, hitting the level of PLN bln. Polands foreign trade deficit declined significantly to EUR 8.1 bln at the end of November, compared with EUR 14.3 bln at end-November 2011.

23 Major FDI investors in Poland (FDI stock as of the end of 2010, in bn EUR) Source: National Bank of Poland 2011

24 Source: Entrepreneurs in Poland pay one of the lowest CIT in Europe Corporate income tax rates across Europe

25 Companies with foreign shareholding in Polish regions Mazowieckie Podlaskie Lubelskie Podkarpackie Małopolskie Śląskie Opolskie Dolnośląskie Lubuskie Świętokrzyskie Łódzkie Wielkopolskie Warmińsko- -Mazurskie Pomorskie Kujawsko- -Pomorskie Zachodnio- -Pomorskie Source: Central Statistical Office, 2011 Number of entities with foreign shareholding Number of persons employed Poland Mazowieckie Dolnośląskie Śląskie Wielkopolskie Małopolskie Zachodniopomorskie Pomorskie Łódzkie Lubuskie Kujawsko-pomorskie Opolskie Podkarpackie Lubelskie Warmińsko-mazurskie Świętokrzyskie Podlaskie

26 23 thous. companies with foreign shareholding, majority of which are large companies companies with foreign shareholding give job to over 1.5 m people, which represents 9.7% of all employed companies employ more people than domestic firms (respectively 175 and 92) they are characterized by far higher productivity than domestic firms (by 74.7%) they are responsible for 52.8% of Polish exports and 54.2% of Polish imports their employees are better paid and have access to know-how and newest technologies Companies with foreign shareholding in Poland

27 Special Economic Zones (SEZ) 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 – hectares SEZ will operate until 2020, hopefully longer Permits to conduct activities in SEZ are issued by the authorities of each SEZ Minimum investment: EUR 100,000 Possibility of including the land selected by an investor into SEZ Benefits of 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

28 Forms of regional aid Tax breaks CIT exemption in Special Economic Zone Real estate tax exemption Cash support Government grants through individual negotiations Cash grants co-financed from the EU Funds

29 What do these objects have in common?

30 They were all invented by the Poles! Car wiper blades - Józef Hofmann Bullet-proof vest - Jan Szczepanik Telectroscope - Jan Szczepanik Kerosene lamp - Ignacy Łukasiewicz ENIGMA cypher machine decrypting code - Marian Rejewski, Henryk Zygalski, Jerzy Różycki Hand mine detector - Józef Kosacki Oil extracting device - Witold Zglenicki Blue laser semiconductor – GaN – Sylwester Porowski

31 Created in Poland - examples

32

33 Emerging market, yet a mature & secure investment location 7 hours to New York 2 hours to London 2 hours to Moscow 8 hours to Tokyo Unemployment rate at 12% (at European Union average) Inflation rate at around 3,5% vs. 3% average for EU Attractive salary levels up to 40% lower vs. Western Europe VAT: 23%, Income Tax: 18-32%, Corporate Tax – 19% Youngest population in Europe (50% of Poles below age 37) Sources: International Monetary Fund, Ministry of Economics in Poland, Polish Central Statistical Office, Polish Foreign Investment & Information Agency 1 hour to Berlin

34 Sectors of opportunities Business Services Sector Research & Development automotive machinery food-processing aviation energy: nuclear power plant, renewable energy sources

35 Why Poland? Summary Availability of skilled human resources Economic and political stability Effective incentives system Strategic location – gateway to the EU

36 Thank you for your attention HENRYK SANECKI Consul, First Counselor Head of Trade & Investment Section Consulate General of the Republic of Poland Presentation upon data given by Polish Information and Foreign Investment Agency ( PAIIZ: )


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