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POLSKA AGENCJA INFORMACJI I INWESTYCJI ZAGRANICZNYCH Poland Investment Opportunities Poland – key facts Territory: 312 700 km2 – 6th place in the EU Population: 38.1 m. – 6th place in the EU Currency: PLN (1 EUR ~ 4.19 PLN) GDP in 2011: 1 525 bn PLN (ca. 370 bn. EUR ~4.12 EUR/PLN) Membership: EU, NATO, OECD, WTO, Schengen Zone Real GDP changes in 2011 FI 2,8% SE NO 2009 3,7% 1,2% Poland was the only economy in the EU with positive growth EE 8,3% LV 5,5% DK 2010 1,1% IR Poland was the third fastest growing economy in the EU 1,4% PL UK 0,9% NL 1,0% BE 1,8% 2011 LT 5,9% +4,3%* DE 3,0% CZ 1,9% SK 3,2% Polish economy was growing twice faster than EU average Source: Eurostat. HU 1,6% RO 2,2% IT 2012 Poland is expected to grow by 2,4%, EU average is -0,3% (Europ. Commision) AT 2,7% FR 1,7% 0,4% BG 1,7% PT -1,6% ES 0,4% TR GR -7,1% 8,5% European Commission Economic Forecast Autumn 2012 Real GDP growth (%) 2012 2013 2014 EU27 -0,3 0,4 1,6 Eurozone -0,4 0,1 1,4 Germany 0,8 0,8 2,0 1,8 2,6 Poland 2,4 (2,0*) Czech Republic -1,3 0,8 2,0 Slovak Republic 2,6 2,0 3,0 Hungary -1,2 0,3 1,3 Bulgaria 0,8 1,4 2,0 Romania 0,8 2,2 2,7 ()* Actual performing according to the Central Statistical Office Previous growth expectations were reduced, but Poland still maintains relatively fast pace of economic growth Source: European Commission, November 2012. Unemployment rate in 2012 16 14.5 14 10.6 10.7 10.9 EU27 Hungary 12 Poland 12.4 10 8 6 6.7 7.4 5.4 4 2 Unemployment in EU27: 10.7% Eurozone: 11.8%, Poland: 10.6% Source: Eurostat, November 2012 or latest available data. Slovakia Bulgaria Czech Republic Romania Germany 0 Main advantages of Poland Stable economic situation Market growth Size of internal market Access to regional markets Cooperation with suppliers and business System of investment incentives Poland is among 15 most attractive investment locations in the world Effectiveness in utilizing FDI appraised as “above expectations” Source: UNCTAD, World Investment Prospects Survey 2009-2011, World Investment Report 2012. EY European Attractiveness Survey Poland – the 2nd most attractive country in Europe for FDI in the next 3 years 3 2 2 2 2 2 2 Turkey Switzerland Netherlands Italy Spain Sweden Can't say 3 Czech Republic 6 4 Romania 7 France 8 Russia Poland 10 United Kingdom 35 Germany 40 35 30 25 20 15 10 5 0 Poland in Financial Times FDI quality in industrial processing sector Poland– 3rd place in the World, 1st in Europe 600 500 400 300 200 100 China USA Poland Slovakia Brazil India Germany Russia France Canada UK Indonesia Czech Rep. Spain Hungary Vietnam Romania Malesia Thailand Mexico 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Source: Financial Times/ FDI Intelligence. Poland – biggest opportunities of income increase 45% of transnational corporations that invest in developing countries point Poland as a location that offers the biggest opportunities of income increase in 3-year perspective Poland takes the 2nd place in Eastern Europe (after Russia) In the next 7 years emerging markets are expected to be be reposponsible for over 50% of global GDP Source: Fortresses and Footholds: Emerging market growth strategies, practices and outlook, Deloitte, January 2012 r. 9 Poland – on top of statistics 6th place globally in most attractive FDI destinations ranking UNCTAD 3rd place globally in quality of processing industry Financial Times 2nd place in Europe in a group of the most attractive countries in the next 3 years Ernst & Young One organisation may be wrong, but a few of them must be right Poland is one of the fastest developing countries: • 5th in the World, • 1st in Europe. Source: The Economist 2011. TOP 15 CITIES Source: CB Richard Ellis, September 2011. Poland is 3rd location worldwide for business services Poland is on the 3rd place worldwide on the shortlist destinations of companies searching for the best location for financial, accounting advisory centers. Source: The Hackett Group, April, 2012. Manufacturing According to Deloitte Poland is 2nd in Europe in manufacturing competitiveness Index value (maximum = 10). Numbers in brackets indicate position in ranking of 38 countries 9 7.98 5.87 6 5.71 4.09 3 Source: Deloitte, 2013 Global Manufacturing Competitiveness Index. Romania (29) Czech Republic (19) Poland (14) Germany (2) 0 Information and Communications Technology ICT Development Index: Poland 31st of 155 countries in ICT availability, usage and skills Index value (higher score = higher ICT development). Numbers in brackets indicate position in ranking 7.39 6.19 6.17 6 5.86 5.77 5.20 5.13 Romania (52) 7 Bulgaria (51 8 5 4 3 2 1 Hungary (41) Slovakia (39) Czech Republic (32) Poland (31) Germany (16) 0 Source: United Nations International Telecommunication Union (ITU), 2012 Measuring the Information Society The lowest corruption in the region Transparency International: Poland has the lowest corruption among CEE countries Index value (higher score = less corruption). Numbers in brackets indicate position in ranking of 176 countries 90 80 79 70 46 44 41 Bulgaria (75) 49 50 Romania (66) 55 Slovakia (62) 58 60 40 30 20 10 Czech Republic (54) Hungary (46) Poland (41) Germany (13) 0 Source: Transparency International, 2012 Corruption Perceptions Index Poland – A Success Story „Poland is one of the world's few success stories since the fall of the Soviet bloc, a development that is particularly noticeable in comparison with other countries in Eastern Europe. Statistics show that hardly anyone in Europe works as much per year as the Poles, and that they are also happier on average than other Europeans.” Der Spiegel, (May 2012) The Miracle Next Door. Poland Emerges as a Central European Powerhouse „Poland is the most striking recent economic success story in the EU. It is the only country not to have fallen into recession in 2009 and is pegged to have the fastest GDP growth in the union this year, while the government of premier Donald Tusk enjoys a rare political stability, embarking on its second term of office. ” Financial Times (June 2012) Euro 2012 to highlight Poland’s success Poland – A Success Story „Poland is already the champion of Europe - in terms of economic growth. An estimated GDP growth for 2011 was revised upwards by Brussels (to 4.3%) and is nearly three times bigger than the average of 27 (1.5 %). What saved the Polish growth during the 2009 crisis is that it is driven by strong domestic demand (population of 38 million).” Le Figaro (March 2012) La Pologne, championne européenne de la croissance „Poland is the South Korea of Europe – its economy moves faster than the German locomotive.” La Repubblica (June 2012) · „Poland remains, despite the crisis, the champion of economic growth. The state budget has doubled in the last decade, the country was well governed.” Die Welt (June 2012), Wunderkind Polen Investment Climate – PAIiIZ’s & Pentor research The investment climate was given a grade 3.6 – 2nd best in history (scale 1-5max) Entrepreneurs appreciate foremost: Market size (4.2 point), Political stability (4.1 point), Labour force availability (4.0). Big companies (>250 employees) perform pretty well: 51% recorded export increase, only 6,0% decline, 75% had a turnover increase, 87% companies plan either to increase or sustain the employment at a current level. EU funding Support areas Ca. 90 thousand projects have received support of EUR 14,2 bn. Certified payment application constituted 105% of allocations European funding What have we reached? Examples Transportation • 779 km built/reconstructed expressways • 4 236 km built/reconstructed national and local roads • 635 km built/reconstructed railways Ecology • 13 000 km built/reconstructed sewerage, • 5 700 km built/reconstructed water supply pipelines • 275 built/reconstructed city water pipelines • 1 729 built/reconstructed home wastewater treatment plants Development of human capital 2,7 mln people (incl. 1,6 mln women) has received supprot from ESF Entrepreneurship and innovations 2 799 of SME received support for new implemented investments 17 science parks have received support European funding Absorption of European funding (mln EUR) Poland and EU member states Human Resources Main university centres Students in given EU countries Tricity Szczecin Warsaw Poznan Lodz Wroclaw Cracow • 20 million of talented young people, who speak foreign languages • 2 mln students, over 400 000 graduates every year • 87% of students speak foreign languages • 50% of population is younger than 35 yrs. (in the group between 20 and 29 y.o. 1/3 studies) there are 460 of higher education institutions in Poland • Źródło: EIU, Eurostat. Human Resources Foreign language capability by age groups 50% Language proficiency is one of the strongest points for Poland as a BPO center 40% 30% 20% Children learn foreign languages from the age of 6 10% 0% 18-24 25-34 English 35-44 German 45-54 Russian Source: CBOS Survey Foreign language capability among students 100% English is the most popular foreign language in Poland 80% 60% 40% Learning of foreign languages is obligatory in the Polish education system 20% 0% English Source: Randstad. German Russian French Spanish Size of the market Markets served: • Internal market of 38 mn people radius 1000 km 250 mln people • Unlimited access to the EU market • Strong relations with CIS area and Balkan states Stable economy: • GDP growth in Poland 3.9% in 2010, 4.3% in 2011 •Main growth factors: domestic demand and foreign trade radius 2000 km 550 mln people State aid I. CIT exemption in Special Economic Zone only available in Special Economic Zone (SEZ) II. Government grants through individual negotiations individually approved and granted by the Ministry of the Economy based on the Council of Ministers’ Resolution 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 State aid Special Economic Zones Special Economic Zone (SEZ) is an area dedicated specifically for investors where they can receive special benefits Major purpose of SEZ is to support local growth There are 14 SEZ + many subzones Cumulative area = 20 000 hectares SEZ will operate at least until 2020 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 from obtaining a permit to conduct activities in SEZ: eligibility for income tax exemption – a form of regional aid plot of land prepared specifically for an investment project at a competitive price free assistance in dealing with formalities relating to the investment project Tax rates • Corporate Income Tax (CIT) rate: 19% • Personal Income Tax (PIT) rates: 18% & 32% • Value added tax (VAT) basic rate : 23% reduced rates : 8%, 5% export rate : 0% • Social Security Tax paid by employer between 17.48% and 20.41% Poland – greenfield projects In the first half of 2012 the number of foreign direct investment projects initiated globally dropped by 23 percent. Poland was an exception to the trend, seeing FDI grow, attracting 155 projects worth a total of $823 million and creating 5,100 jobs. Greenfield Projects in 2011 According to fDi data, through the end of September 219 FDI projects worth close to $1.5 billion had created 8,300 jobs in Poland. That is more jobs created than in the whole of 2011. UK Germany Russia France Spain Poland Ireland 896 551 319 281 252 227 186 Netherlands 185 Romania Czech Republic Total 177 136 4639 Why Poland? Strategic location – gateway to the EU Economic and political stability Availability of skilled human resources Effective incentive system including EU-Funding 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]