Blog by Michael Clay

Renewable Energy Conference London January 26th


To kick start activities for the New Year, the British Polish Chamber of Commerce (BPPC) in partnership with the Conservative Friends of Poland (CFoP) will be hosting a seminar:

Renewable Energy & Carbon Reduction
What is Poland and the UK doing about EU recommendations

The event will take place at the Radisson Blu Portman Hotel at 22 Portman Square. London W1H 7BG on Wednesday 26th January 2011 and will be attened by the UK Minister for Energy and Climate Change who will be the main speaker.

This seminar will review renewable energy sources and look at carbon reduction in both Poland and the UK and compare the developments in each country as well as the Government and EU incentives that are in place. As new and sustainable energy sources have the potential to provide energy services with almost ZERO emissions of both air pollutants and greenhouse gases, the popularity is gaining huge momentum in both the UK and Poland. The seminar will endeavour to examine the progress in each country and examine the various options that are in place.

A number of prominent speakers will talk about the new innovations in Renewables and carbon Reduction

Tickets are £40 (+20% VAT) for members and £55  (+20% VAT) for non members.

Please click HERE to download the event programme.

 

Please complete the registration HERE and make payment to reserve your place.
Please see :- http://www.youtube.com/watch?v=hEQJP_cUo_c

Poland May See Short-Term Price Growth After Euro Adoption - Finance Ministry's Report

Poland may see its general price level rise by 0.5-1.7 percent in the short term after euro adoption due to the process of rounding up to "attractive prices," Finance Ministry's report on the balance of advantages and costs of euro adoption showed.

"The rise in the general level of prices in Poland resulting from rounding up to attractive prices could range from 0.5 percent to 1.7 percent," the document read. "That result is largely homogenous in a cross-section of various social groups and the rounding up effect is the strongest with respect to goods with low unit prices (price increase for goods priced up to PLN 1 may amount to 20 percent maximum)."

The document also mentions the possible effect of "euro illusion," that is a general perception of greater price increases than in reality due to the fact that goods with low unit prices are also the most frequent purchases.

"This poses a threat of increased wage demands and a temporary reduction in consumption," the report reads.

In spite of these short term effects, the report stated that the "estimated net balance of the integration [with euro zone] is visibly positive both in the short and in the long term."

Poland's government maintains its plans to adopt the euro in a fast and safe way, deputy Finance Minister and government point person for euro adoption Ludwik Kotecki told reporters earlier on Tuesday as the government adopted strategic framework for the national plan of euro adoption.

The official estimated short-term benefits "in the range of 0.9 percent of GDP (in the pessimistic scenario) to 1.9 percent of GDP in the optimistic scenario) or - using a different perspective - 0.3-0.9 percent of private consumption respectively."

Long-term net benefits are estimated at 2.5-2.75percent of GDP or 0.9-3.6 percent of private consumption," the framework showed.

Polish GDP to Grow 3.1% in 2010: IMF

The Polish economy is likely to grow 3.1% this year and 3.5% next year, according to the International Monetary Fund’s latest World Economic Outlook report.

Poland should continue structural reforms, make the structure of public finances more flexible and complete reforms of its pension system, International Monetary Fund analysts said.

In an early draft of next year’s budget, the government assumes GDP will grow 3.5% and average annual inflation will rise 2.3% , the PAP news agency reported.

The government expects domestic demand to be the main driver of economic growth in 2010, according to PAP.

Government experts believe exports remain something of an unknown, with many risks to the European growth outlook, PAP said.

It added that the government expected the zloty to appreciate as sentiment on global financial markets calms down and the economy returns to a path of growth.

Poland must avoid tax hikes and focus on spending cuts, including adjustments to legislatively fixed spending, according to Finance Ministry documents cited by PAP.

Under the Polish constitution, the 2011 budget must be put to parliament by the end of September.

Poland to Receive Over EUR 10 bn From Cohesion Funds

Poland will receive EUR 10.2 bln from the EU cohesion fund in 2011, according to the draft EU budget accepted by the European Commission on Tuesday.

The total pool of cohesion and structural funds in 2011 will amount to EUR 42 bln out of a EUR 142 bln budget, i.e. 17% more than in 2010.

The draft budget assumes an unprecedented increase in spending on cohesion policy in 2007-2013 financial perspective, Commissioner for Financial Programming and Budget Janusz Lewandowski said.

"Cohesion policy is anti-crisis policy," he added.

These funds from the EU are a wonderful opportunity for Poland to develop the infrastructure and ensure a firm place for the future BUT somehow the process of spending this funding is taking on a very slow processing system.

Unless the powers that be, begin to work much more quickly at utilising these funds and spending them on a properly planned basis, the money will be withdrawn. It is a question of 'Use it' or 'Lose it

The time has surely come for the spending of this money and not the constant delays and indecision which are plaguing the system.

Poland's GDP to Grow by 2.75 pct This Year – IMF Forecast

Poland's economy is expected to grow by 2.75% in 2010 and 3.25% in 2011, the latest IMF forecast shows.

"We expect a revival in the domestic demand, especially in public investments," IMF noted. "The economy is still below potential and wage growth is limited by increased unemployment."

IMF expects inflation to be contained, the report also noted.

All the signs are right for Poland and yet still the British Exports to Poland are at a low level. WHEN will the British SME's and even larger firms realise that the potential to do business in Poland is just waiting for them to take action.

Now is such an ideal time for businesses to open up in Poland - now more than ever is the time to establish a business in Poland or export product there whilst UK sterling prices are at an all time low.

Please do contact us at Export Poland for a free consultancy on YOUR opportunity in Poland - you may be surprised at the result.

European Commission Predicts Poland's GDP Growth Highest in EU

Poland's GDP is expected to grow by 2.6% in 2010 versus 1.8% forecast earlier, while HICP is seen at 2.3% vs November assumption for 1.9%, the European Commission's revised forecast shows.

"The recovery would continue to be driven by exports, which will benefit from the rebound in external demand and the lagging positive effects of the past exchange rate depreciation," the interim forecast reads.

The FX effect will however gradually fade away and domestic demand will become the main driver of growth in 2010, the forecast reads on.
Investment is projected to recover slowly after the drop recorded in 2009, which will reflect "robust public spending in capital expenditure, firming-up production expectations and improved perception of the Polish economy among foreign investors," the EC forecasts.

"Private consumption is expected to contribute moderately positively to growth," supported by a marked increase in social transfers and better-than-expected developments in the labor market.

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.

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

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.