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POLISH INFORMATION AND FOREIGN INVESTMENT AGENCY Business opportunities in Poland Poland - Key Facts Area: 312 700 sq km – 6th in European Union Population: 38,12 million – Currency: Polish Zloty (USD 1 ~ 2.9 PLN) GDP total: USD 684,5 billion (PPP, 2008) GDP growth: 6.7% (2007), 4.8% (2008), 1.4% (2Q 2009) Membership: EU, NATO, OECD, WTO, Schengen Zone 6th in European Union 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 2Q 2009 in EU 38 million of consumers 1000 km radius 250 mn people Labor force young, well-educated work force ca 11% of university students in the EU 456 universities & high education schools increasing labour productivity Investment incentives 14 Special Economic Zones over 110 bn USD from EU 2000 km radius 550 mn people „Velvet crisis” in Poland Poland is much less affected by the crisis than neighbouring countries 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 sophisticated as in the USA less 4. Smaller influence of stock market on the economy than in the USA 5. Falling natural resources’ prices Poland is the only European country with the positive GDP growth GDP contraction - II Q 2009 (II Q ‘09 – II Q ‘08) ** EC forecasts prepared by * Data national statistical offices GDP growth - II Q 2009 (II Q ‘09 – II ‘08) Investment Climate in Poland Best rated categories in the 2009 survey Overall estimate of the investment climate 4,0 3,0 Political stability 2,0 Estimate of the size of the EU market 1,0 0,0 Access to qualified personnel Estimate of the size of the internal market - Poland Accessibility to materials, stocks and components Key findings of a 2009 survey: • The climate was rated 3.3 out of 5 points (first improvement in 3 years’) • No category rated worse than in previous survey • Biggest achievements in categories rated earlier as the weakest. Source: PAIiIZ, 2007-2009 Poland: Falling Unemployment over 20% 09/2009 10.9% 20 10 0 2002 2003 2004 2005 2006 2007 2008 2009 Employment rate grew since 2004 by over 5% up to 51.0% in 2008 Source: Central Statistical Office 2009 Wages & salaries in 2009 (gross, in USD) 1 171 948 1043 998 971 985 1 471 1 055 996 981 1 181 1 052 1 123 1020 1 079 <1000 USD 1000-1100 USD 955 >1100 USD In Sept. 2009 average salary was USD 1139 In 1990 net average pay was ca. USD 110 Source: CSO, May 2009, National Bank of Poland FDI inflow (bn USD) and sources 23,6 25 19,8 20 14,8 12,5 15 9,3 10,3 10 6,1 5,7 4,1 4,6 5 0 2000 2001 2002 2003 2004 2005 2006 2007 2008* 2009* * Estimated Geographical sources of FDI inflow EU 91,30% Source: NBP 2009 Other 8,70% FDI projects in 2009 PAIiIZ projects details: • USD 6,15 bn FDI inflows for the first 8 months • 55% of the same period FDI inflows in 2008 • Completed PAIiIZ projects worth USD 500 m • 5 355 new workplaces created by PAIiIZ projects • Most popular sectors: • Automotive • BPO • Renewable energy Source: PAIiIZ, 2009 Poland in World Investment Report 2009 & 2008 Poland as a major FDI recipient in the region: Poland attracted ca. USD 16.5 billion in 2008, the highest amount among 12 new EU states. According to UNCTAD the key factors attracting FDI to Poland are: • rapidly expanding domestic market • flexible & skilled labour force • solid banking system Source: World Investment Report, UNCTAD 2009 There are ca 2m university students in Poland TRICITY Main academic centers SZCZECIN POZNAN 500 450 BIALYSTOK BYDGOSZCZ-TORUN WARSAW 453 443 LODŹ WROCLAW 400 LUBLIN thousands 350 KATOWICE 300 250 200 171 132 150 100 88 65 58 28 50 9 21 Students Graduates 0 Humanities & social sciences Science ICT Source: Polish Statistical Office 2009 Engineering B&A and Law KRAKOW RZESZOW Higher education trends in 2009 30000 25000 20000 15000 10000 5000 en t Ma na ge m gy Pe da go La w 0 om y • 2 Universities of Technology (Gdansk & Warsaw) among 3 most popular high schools 35000 Ec on • 2,8% secondary school graduates applied for technical studies in 2009 (2,0% in 2008) 40000 n of ns tr u ct io • Increasing popularity technical studies Number of 1st year students by group of fields are Co • The most popular economical studies Source: NBP portal, 2009 Knowledge of Foreign Languages 57% Poles is able to speak at least one foreign language, • 32% of Poles speak two, • 4% - three languages. Percentage of young Poles speaking foreign languages Similar situation in EU: • 56% of EU citizens speak one foreign language, • 28% - two languages. 97% 100% 90% 80% 59% 70% 60% 37% 50% 40% 22% 30% Learning of foreign languages is obligatory in the Polish education system 20% 10% 0% English German Source: Eurostat 2006, TNS Opinion & Social (UK) December 2006, Ranstadt 2008 Russian French Poland in World Investment Prospects Survey 2009-2011 - The 11th most attractive for investors Presence of suppliers and partners 30 Stable and business-friendly Follow your com petitors environm ent 20 Availability of skilled labour and Quality of infrastructure talents 10 Incentives 0 Cheap labour Governm ent effectiveness Size of local m arket Access to international/ regional m arkets Grow th of m arket Access to natural resources Poland World Source:UNCTAD, World Investment Prospects Survey 2009-2011 Tholons Top 50 Emerging Global Outsourcing Cities „Poland is emerging as a premiere nearshore shared services center for Western European and Scandinavian client markets. With its capabilities in serving the full spectrum of services in both ITO and BPO spaces — Poland has emerged as arguably the strongest competitor in the region for a spot in the Top 5 Offshore Nations list.” Top 5 offshore nations Top Global Outsourcing Cities Rank 2009 City Country Rank 2007 Rank 2008 1. Canada 1 Cebu City Phillippines 4 1 2. Russia 2 Shanghai China 8 2 3. Mexico 3 Beijing China 10 3 4. Vietnam 4 Kraków Poland 16 5 5. Poland … … … Poland 26 28 … 28 … Warsaw Source: Top 50 Emerging Global Outsourcing Cities, 2009 Top 10 best performing industrial space locations in Europe Industrial space occupation cost 140 • 4 Polish cities among top 10 locations in Europe 80 60 40 20 Malmo Lyon Sofia Rotterdam Geneva Katowice Warsaw Kyiv Poznan 0 Cracow • Growth was driven by strong demand and by insufficient supply 100 EUR/sq. m./year • Average rental cost growth in Poland reached 28% in 2008 120 Source: Cushman & Wakefield, 2009 Services and Manufacturing Hub Automotive White goods Electronics Services and Manufacturing Hub Aviation BPO R&D Forms of state aid in Poland I. Government grants through individual negotiations individually approved and granted by the Ministry of the Economy based on the Council of Ministers’ Resolution II. CIT exemption in Special Economic Zone only available in Special Economic Zone (SEZ) III. Real estate tax exemption subject to negotiation with the local authorities only in case if the investor is the owner of the building (provided by the Commune Council) IV. Cash grants available through EU Funds subject to negotiation with different managing institutions depending on the investment project key parameters All above presented instruments can be combined together however the total amount of state aid cannot exceed the maximum aid intensity More than EUR 87 billion in 2007-2013 Operational Programmes will be financed from the EU Funds (more than EUR 67 bn) and Polish contribution (over EUR 20 bn) 25% 41% 1% 1% 4% 13% 15% Infrastructure and Environment Human Capital Innovative Economy Development of Eastern Poland Programmes of the European Territorial Cooperation Objective Technical Assistance Regional Operational Programmes Why Poland? Summary Strategic location – gateway to EU Economic and political stability Availability of skilled human resources Effective incentives system including EU-Funds Agency’s offer Agency’s offer Considering of investment Strategic decision regarding new investment, destination of investment. Analysis of macroeconomic, social and political conditions of the countries, including investment incentives system Long list of countries Project Managers assistant, fact finding missions, authorities and Special Economic Zones contact support Short list Short list of countries, choice of locations, investment incentives system’s analysis, negotiations with central and local authorities, finding the potential partners Investment decision Tailor-made information on: • legal environment, economic situation, HR pool, infrastructure, incentives available in Poland • sectoral data and other required information • Set of real estate offers • Fact-finding missions and site selection visits • Project Managers assistance in • contact with local and central authorities • co-operation with Special Economic Zones (support in negotiation process) where available • Information about the available incentives for the specific project • PAIiIZ assists in obtaining financial support from the state government and other sources within the existing investment incentives scheme • Finding potential suppliers • After-care services • Press conference • Ombudsman for foreign investors Thank you for your attention 00-585 Warszawa, ul. Bagatela 12 tel. (+48 22) 334 98 00, fax (+48 22) 334 99 99 e-mail: [email protected]