Poland CEE Region's Leader in Attracting FDI: Ernst &Young
Poland has become the CEE region's leader in attracting foreign
investments, having taken over Russia and Romania, consultancy Ernst
& Young's report on European attractiveness for investors in 2009
showed, Puls Biznesu writes.
The accumulated FDI in Poland amounted to USD 161.4 bln by end-2008, a
value higher than the one in the Czech Republic or Denmark, UN
Conference on Trade and Development (UNCTAD) World Investment Report
2008 revealed.
This is just one more example of how Poland has become one of the SuperPowers in the European market and a recent report by HSBC clearly shows how well Poland has coped with this recession.
As more and more evidence accumulates of the success of Poland and her economy, with rising GDP throughout the last 12 months, the more the rest of europe begins to find great respect for the Polish attitude to the crisis.
Blog by Michael Clay
Poland CEE Region's Leader in Attracting FDI: Ernst &Young
Michael Clay - Monday, November 23, 2009
No Chance for Poland to Adopt Euro Before 2015 - GD ECFIN Official
Michael Clay - Sunday, November 15, 2009
No Chance for Poland to Adopt Euro Before 2015 - GD ECFIN Official
Poland will likely be able to adopt the euro only beyond 2015, a high official from the Directorate-General for Economic and Financial Affairs told PAP.
"Poland practically has no chances of entering the euro zone ahead of 2015," the official said. "It is a rather common opinion among economists and EU decision-makers.
Based on the EU autumn forecast, Poland will have problems with meeting the fiscal criterion in the next 2-3 years, the official stressed.
"The EC recommendation indicates that your country should decrease the general government deficit to 3% of GDP in 2012 - it is to some point possible but in our opinion it will be difficult and the opinion that Poland might want the EC to change its recommendation to at least 2013 is common," the official added.
The European Commission expects this deficit to stand at 6.4% in 2009, at 7.5% in 2010 and at 7.6% in 2011, in the absence of government actions regarding the fiscal policy.
First we are advised that 2012 will be the date for adopting the Euro and then 2015 and now we have a new target date of some time after 2015. When will Poland really be in a position to adopt the euro and how will this affect it's economy?
Will the Polish people really welcome the euro?, and perhaps see the costs of everyday life increasing as they have done in all other counties that have already adopted the currency.
Poland will likely be able to adopt the euro only beyond 2015, a high official from the Directorate-General for Economic and Financial Affairs told PAP.
"Poland practically has no chances of entering the euro zone ahead of 2015," the official said. "It is a rather common opinion among economists and EU decision-makers.
Based on the EU autumn forecast, Poland will have problems with meeting the fiscal criterion in the next 2-3 years, the official stressed.
"The EC recommendation indicates that your country should decrease the general government deficit to 3% of GDP in 2012 - it is to some point possible but in our opinion it will be difficult and the opinion that Poland might want the EC to change its recommendation to at least 2013 is common," the official added.
The European Commission expects this deficit to stand at 6.4% in 2009, at 7.5% in 2010 and at 7.6% in 2011, in the absence of government actions regarding the fiscal policy.
First we are advised that 2012 will be the date for adopting the Euro and then 2015 and now we have a new target date of some time after 2015. When will Poland really be in a position to adopt the euro and how will this affect it's economy?
Will the Polish people really welcome the euro?, and perhaps see the costs of everyday life increasing as they have done in all other counties that have already adopted the currency.
Economic Fundamentals Point to Stable Zloty - NBP Chief
Michael Clay - Saturday, October 31, 2009
Economic Fundamentals Point to Stable Zloty - NBP Chief
Poland's economic fundamentals suggest that the zloty should be one of the most stable currencies in the region, although a a high dose of uncertainty exists, central bank NBP head Sławomir Skrzypek told reporters.
"The fundamental of our economy are strong and the zloty has every basis to be stable, one of the most stable currencies in the region," NBP CEO said, offering caveat for a "level of uncertainty on the market that makes any declaration difficult."
Now the Polish Zloty Returns to Appreciation Trend
Poland's zloty started gaining Monday night and will likely continue down that road locals told PAP.
Positive global sentiment, large IPOs by PKO BP bank and PGE power as well as EU funds conversion all contribute to the zloty returning to appreciation trend, Kredyt Bank FX dealer Robert Kęsicki said.
The trend should hold in the coming days, in Kęsicki's opinion.
It seems that every winter the zloty becomes stronger and very summer weaker - is this a normal trend or what is it that influences this phenomena
Poland's economic fundamentals suggest that the zloty should be one of the most stable currencies in the region, although a a high dose of uncertainty exists, central bank NBP head Sławomir Skrzypek told reporters.
"The fundamental of our economy are strong and the zloty has every basis to be stable, one of the most stable currencies in the region," NBP CEO said, offering caveat for a "level of uncertainty on the market that makes any declaration difficult."
Now the Polish Zloty Returns to Appreciation Trend
Poland's zloty started gaining Monday night and will likely continue down that road locals told PAP.
Positive global sentiment, large IPOs by PKO BP bank and PGE power as well as EU funds conversion all contribute to the zloty returning to appreciation trend, Kredyt Bank FX dealer Robert Kęsicki said.
The trend should hold in the coming days, in Kęsicki's opinion.
It seems that every winter the zloty becomes stronger and very summer weaker - is this a normal trend or what is it that influences this phenomena
The BPCC Annual Dinner Dance - Ball 2009
Michael Clay - Sunday, October 25, 2009
The BPCC Annual Dinner Dance - Ball 2009
Last Saturday the BPCC held its sell out 17th Annual Ball. 300 guests gathered for the 1920s themed evening, sponsored by Jones Lang LaSalle and co-hosted by InterContinental Warszawa. Coverage of the ball will be in the next issue of Contact magazine but we are so proud of the fundraising achievement that we wanted to shout about it now! Said Caroline Cook.
Every year the BPCC supports a charity at the BPCC Annual Ball and this year we organised two fundraising activities in aid of the Eugeniusza Dutkiewicza SAC Hospice in Gdansk which helps people who have progressive and life-threatening illnesses. We are delighted to announce that a record amount was raised.
The first activity was our annual raffle and thanks to the superb prizes donated by BPCC members and the generosity of guests at the Ball, this raised an amazing 7,610PLN. Second was an auction for a unique, anonymously donated prize – a rugby ball signed by Lech Wałęsa and the entire Polish national rugby team plus a photograph of Jan Kozlowski, president of the Polish Rugby Association and President Wałęsa signing the ball. The auction was open online as well as taking place live at the Annual Ball so non-guests could also take part. Expertly orchestrated by professional real estate auctioneer, Michael Clay of Davidoff Kleeberg & Maresch and Export Poland, bidders battled it out, pushing the price higher and higher until it finally sold for an astounding 10,000PLN.
“We are thrilled to have raised a total of 17,610PLN which is more money than ever before and for such a worthy cause and I would like to thank all members who donated prizes and took part in the fundraising. A superb achievement!” said Martin Oxley, BPCC CEO.
“We would like to thank the BPCC and its members for their huge generosity and support for the hospice. We provide free of charge care to over 1,000 patients every year and therefore donations like this are invaluable to us,” added Aneta Puszko, Fundraising Manager, Eugeniusza Dutkiewicza SAC Hospice.
The entire event was wonderfully hosted by the BPCC and David Thomas - Chairman of the British Polish Chamber of Commerce welcomed all of the guests before Ric Todd HM Ambassador to Poland spoke in both Polish and English to everyone also.
An excellent dinner and 1920's themed dance then took place and a fantastic evening followed. There is no doubt that everyone thoroughly enjoyed themselves.
Poland’ Euro Adoption in 2014/2015 at the Earliest?
Michael Clay - Thursday, October 15, 2009
Poland’ Euro Adoption in 2014/2015 at the Earliest?
Poland will be able to adopt the euro not before 2014-2015, Halina Wasilewska-Trenkner, a member of the National Bank of Poland's Monetary Policy Council said quoted yesterday by the daily Dziennik Gazeta Prawna.
Wasilewska-Trenkner cited the need for meeting Maastricht criteria and a two-year stay in the ERM2 mechanism. She also said that Poland should make necessary amendments in its Constitution ahead of entering the ERM2.
"It is the most important bill but not the only one which should be changed before we start the formal period of preparations for euro adoption, i.e. before we enter ERM2," she added.
The need for a firm date to be established for Poland's entry has never been more important. The constant dialogue and change in dates can be most unnerving to the investors who view Poland as an ideal country to invest in. Continued good GDP results making Poland the leading European economy are encouraging investment and businesses who want to buy from or produce in Poland.
All of these encouraging signs can be stymied if there are continual changes in opinions on the dates of entry to ERM2.
Poland will be able to adopt the euro not before 2014-2015, Halina Wasilewska-Trenkner, a member of the National Bank of Poland's Monetary Policy Council said quoted yesterday by the daily Dziennik Gazeta Prawna.
Wasilewska-Trenkner cited the need for meeting Maastricht criteria and a two-year stay in the ERM2 mechanism. She also said that Poland should make necessary amendments in its Constitution ahead of entering the ERM2.
"It is the most important bill but not the only one which should be changed before we start the formal period of preparations for euro adoption, i.e. before we enter ERM2," she added.
The need for a firm date to be established for Poland's entry has never been more important. The constant dialogue and change in dates can be most unnerving to the investors who view Poland as an ideal country to invest in. Continued good GDP results making Poland the leading European economy are encouraging investment and businesses who want to buy from or produce in Poland.
All of these encouraging signs can be stymied if there are continual changes in opinions on the dates of entry to ERM2.
EC Approves Public Assistance for Polish Dell Plant
Michael Clay - Saturday, September 26, 2009
EUROPEAN COMMISSION Approves Public Assistance for Polish Dell Plant
The European Commission okayed 54.5 million euros of regional aid for establishing Dell Products Poland's computer manufacturing plant in Łódź, yesterday.
The Commission decided that the investment project will significantly contribute to the regional development and job creation in a disadvantaged region of Łódź province, and that these benefits outweigh any potential negative effects of the aid on competition and trade.
The total value of Dell's investment in Łódź amounts to 189.6 million euros.
This is fantastic news for the Łódz region as Dell has already proved themselves to be one of the largest employers in the region making Łódź a huge centre for electronic manufacturing and assembly
We now need more and more companies from the UK and Europe taking up the opportunities that exist in Poland's second largest city.
The British Polish Chamber of Commerce have a Business Point Centre in Łódź which enables new busnesses to easily start up with a complete serviced office for next to nothing. Enquiries should be sent to us at Export Poland on the contacts form.
The European Commission okayed 54.5 million euros of regional aid for establishing Dell Products Poland's computer manufacturing plant in Łódź, yesterday.
The Commission decided that the investment project will significantly contribute to the regional development and job creation in a disadvantaged region of Łódź province, and that these benefits outweigh any potential negative effects of the aid on competition and trade.
The total value of Dell's investment in Łódź amounts to 189.6 million euros.
This is fantastic news for the Łódz region as Dell has already proved themselves to be one of the largest employers in the region making Łódź a huge centre for electronic manufacturing and assembly
We now need more and more companies from the UK and Europe taking up the opportunities that exist in Poland's second largest city.
The British Polish Chamber of Commerce have a Business Point Centre in Łódź which enables new busnesses to easily start up with a complete serviced office for next to nothing. Enquiries should be sent to us at Export Poland on the contacts form.
Polish Current account surplus
Michael Clay - Wednesday, August 12, 2009
| Current Account Surplus at 459m Euros |
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| |
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| Poland
recorded a current account surplus of 459 million euros in June, well
above the 207 million euro surplus in May, according to central bank
figures released Wednesday. The trade gap was 26 million euros. Exports fell 20.8% year on year to 8.314 billion euros. Imports fell 31.5% year on year to 8.340 billion euros. Is this not the the ideal time for British Businesses to export to Poland and for Polish companies to look for more sales in the UK. With current rates of exchange, the opportunity to do business is better than ever. People - take advantage of this opportunity |
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Poland Can Adopt Euro in 2013 at Earliest IMF Official
Michael Clay - Thursday, August 06, 2009
| Poland Can Adopt Euro in 2013 at Earliest: IMF Official | |
| Poland
can enter the single European currency in January 2013 at the earliest,
the International Monetary Fund’s regional representative for Central
Europe, Mark Allen, told the PAP news agency. But Poland need not rush to adopt the euro as the single currency "is no wonder drug, nor is it the Holy Grail," he said. Poland’s deputy Finance Minister Ludwik Kotecki announced last week that, “amid a completely different macroeconomic situation” the government will not be taking the country into the eurozone in 2012, as it had planned. |
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Year 2015 Realistic for Poland's Euro Adoption: President
Michael Clay - Friday, July 31, 2009
Poland's euro adoption in 2015 seems an optimistic but already
realistic option, President Lech Kaczynski told a news conference,
quoting an opinion of professor Gomułka, a liberal economist.
Comments follow Wednesday statement by deputy FinMin Ludwik Kotecki, who admitted that Poland will adopt the euro later than in 2012.
"Euro adoption plan in 2011 was unrealistic from the beginning, year 2012 was unrealistic too so the resignation is a step in good direction," president said, reiterating that "euro is not a remedy for the crisis."
It is a shame that the adoption of the Euro is being delayed but perhaps the enthusiasm of Donald Tusk is not shared by the Finance Minister.
Comments follow Wednesday statement by deputy FinMin Ludwik Kotecki, who admitted that Poland will adopt the euro later than in 2012.
"Euro adoption plan in 2011 was unrealistic from the beginning, year 2012 was unrealistic too so the resignation is a step in good direction," president said, reiterating that "euro is not a remedy for the crisis."
It is a shame that the adoption of the Euro is being delayed but perhaps the enthusiasm of Donald Tusk is not shared by the Finance Minister.
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