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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 of the mission to Poland
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).
Poland - Key FactsArea: 312 700 sq km – 6th in European Union
(195 400 sq miles – comparable with Arizona)
Population: 38,5 million – 6th in European Union(– comparable with California)
Currency: Polish Zloty (1 USD ~ 3.2 PLN, 1 EUR ~ 4.1 PLN)
GDP: USD 771.658 billion *(PPP, 2011) – IMF data
USD 802,145 billion (PPP, 2012) – IMF estimates
GDP per capita: USD 20,334.191 *(PPP, 2011) – IMF data USD 21,310.289 (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)
2000 km radius
550 m people
1000 km radius
250 m peopleLabour 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 2011 38 million consumers
Location & economic fundamentals
strategic location in continental Europe part of trans-European transportation corridor fourth fastest growing EU country in 2011 38 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
Unemployment rate
Mazowieckie10.2%
Podlaskie13.9%
Lubelskie13%
Podkarpackie15.3%
Małopolskie10.6%
Śląskie10.2%
Opolskie13.1%
Dolnośląskie12.4%
Lubuskie14.9%
Świętokrzyskie14.9%
Łódzkie13%
Wielkopolskie9,1%
Warmińsko--Mazurskie
19.3%
Pomoskie12.1%
Kujawsko--Pomorskie
16.6%
Zachodnio--Pomorskie
16.5%
14% >
11-13.9
10.9% <as of the end of August 2012
Source: Central Statistical Office, August 2012
8/2012 : 12.4%, 1 964.7 thous.
(labour force 16,99 M)
Year Unemployed Unemployed with higher education
2005 3 050 000 145 000
2012 1 960 000 216 000
Harmonized unemployment rate in December 2012 in selected EU member states
(source: Eurostat)
ICT
Finances, B&A
Science
Engineering
Students by major:
Tri-City
95 000
Lodz
120 500
Warsaw
276 000
Poznan
137 500
Krakow
185 000
Wroclaw
146 000
Main academic centers
Katowice
112 000
The most popular majors
Talent shortage problem in Poland does not exist: only 4% of employers have trouble filling vacancies
Poland ranks 1st among 39 countries surveyed by Manpower
Talent shortage problem by country
Source: Manpower 2011 Talent Shortage Survey
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
0%
20%
40%
60%
80%
100%
English German Russian French Spanish
Source: Hays, 2012
44,239,339,1
38,634,2
33,731,3
30,129,7
29,227,4
26,823,1
20,620,1
17,516,5
14,412,111,9
10,58,48,1
7,67,1
5,95,5
4,23,5
Norway
Belgium
Sweden
Denmark
France
Luxembourg
the Netherlands
Germany
Finland
Austria
Ireland
Italy
EU 27
Spain
UK
Greece*
Cyprus
Slovenia
Portugal
Malta
Czech Rep.
Slovakia
Estonia
Hungary
Poland
Latvia
Lithuania
Romania*
Bulgaria
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
70.068.8
68.4
54.4
52.0
35.1
33.7
28.1
26.5
24.0
19.4
19.3
18.6
18.4
18.1
17.3
17.2
16.8
15.9
15.0
11.4
10.0
7.6
Finland
Denmark*
Sweden
Norway*
Belgium*
Italy
Ireland*
Austria
UK
Greece**
The Netherlands
Portugal
Germany
Japan
OECD area
Czech Rep.*
Slovakia**
Hungary**
Spain*
Poland
USA
Korea*
France**
Trade union density in OECD countries in 2010 (in %)Hourly labour costs in 2011 in EUR
Modernisation of roads and railroads network
Source: GDDKiA, MT
Till 2006 2007-20132014 – 2020New constructionsAfter 2020
RailroadsHighways and expressways: existing under construction planned
21.7
20.5
7.077.55
11.5
18.920.6
19.1
15.4
0
5
10
15
20
25
200320042005200620072008200920102011
Passengers served by Polish airports (in millions)
Source: The Civil Aviation Office, 2012
Air transport
Direct flights to major European cities
LondonWarsaw, Gdańsk, Wrocław, Kraków, Rzeszów, Szczecin, Bydgoszcz, Katowice, Poznan, Łódź
FrankfurtWarsaw, Gdańsk, Wrocław, Poznań, Kraków, Katowice, Rzeszów
Munich Warsaw, Gdańsk, Wrocław, Kraków, Poznań
ParisWarsaw, Katowice, Kraków, Wroclaw, Poznań, Gdańsk
DublinWarsaw, Wrocław, Katowice, Kraków, Poznan, Gdansk, Bydgoszcz, Szczecin, Łódź, Rzeszów
OsloWarsaw, Katowice, Kraków, Wroclaw, Poznań, Gdańsk, Szczecin
Milan Warsaw, Katowice, Kraków
DortmundWarsaw, Katowice, Wroclaw, Kraków, Poznan, Łódź
Brussels Warsaw, Katowice, Kraków, Wrocław
Location of main Polish airports
European flights
Domestic flights
Overseas flights
WARSZAWAWARSZAWA
SZCZECIN
ZIELONA GÓRA
BYDGOSZCZ
ŁÓDŹ
RZESZÓWRZESZÓW
WROCŁAW
KATOWICE
KRAKÓWKRAKÓW
GDAŃSK
POZNAŃ
Airports under construction
MODLIN
LUBLIN
KILECE
GDYNIA
Top business locations across the world
Warsaw Ranked #12 Among Top Business Locations Across the World
Source: CB Richard Rllis, 2011
Portugal- 1,6**
GB0,7
France1,7*
Germany3,0
Ireland0,7
Belgium1,9
Spain0,7
Italy0,4
Luxemburg1,6
Holand1,2
Czech1,7 Slovakia
3,0Austria
3,1 Hungary1,7
Romania2,5
- 0,2Slovenia
Bulgaria1,7
Greece*- 6,9
Denmark1,0
Sweden3,9
Finland1,9
Estonia7,6
Latvia5,5
Lithuania5,9
POLANDPOLAND4,34,3
* forecast
under 1,4
1,4 – 1,7
1,7 – 2,3
2,3 – 3,2
over 3,2
GDP growth in the EU countries in 2011
in 2009in 2009
Poland Poland avoided recessionavoided recession & & experienced the highest GDP growth experienced the highest GDP growth in Europein Europe
Source: Eurostat, 2012
in 2010in 2010
developed at developed at one of the highest one of the highest pacepace in Europe in Europe
in 2011in 2011
Poland Poland continuedcontinued to develop at the to develop at the pace three times higher then the EU pace three times higher then the EU averageaverage
Spending structure of Polish households in 2010 (in %)
21.8
F
ood
20.7 Housing & energy
9.1 Transport
Rec
reat
ion
& c
ultu
re 7
.8
Resta
uran
ts & h
otels
6
.8
Alcohol & cigarettes 5.7
Clothing & footwear 5.2
Household equipment 4.9
Health 4.9
Com
munication 4.5
Other 8.6
Source: Central Statistical Office
FDI Attractiveness
Source: FDI Intelligence Report, September 2011
International recognition
66thth place place as the most attractive FDI destination World Investment Report
2nd2nd most attractive country for FDI in the next 3 years
European
Attractiveness
Survey
33rdrd place place worldwide as the best quality location for manufacturing projects
FDI Benchmark
2nd2nd location in Eastern Europe and Russia offering the greatest revenue opportunities over next
three years
Emerging market growth strategies, practices and outlook
Top ranking destination countries by estimated jobs in Business Services
0 4000 8000 12000 16000 20000
Philippines
India
USA
Poland
China
UK
Colombia
Costa Rica
Fiji
Ireland
South Africa
Sri Lanka
Hungary
Australia
Egypt
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
Other countries
8.5%
EU91.5%
Geographical sources of FDI in Poland
Source: National Bank of Poland 2011
Poland’s foreign trade volumes in January-August 2012 – breakdown by countries (source: GUS)
Poland’s foreign trade volumes in January-August 2012 – breakdown by countries (source: GUS)
Poland’s foreign trade volumes (source: GUS)
Foreign trade – in 2012 exports grow faster than importsAccording to the newest data from GUS, exports grew faster than imports in the first eleven months of 2012. PLN-denominated exports in current prices were higher by 8.1% y/y and amounted to PLN 553.7 bln. Imports, in turn, increased y/y by 3.2%, hitting the level of PLN 587.9 bln. Poland’s 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.
5,35,65,65,8
9,310,5
13,1
18,720,4
26,8
0
5
10
15
20
25
30
Ne
the
rla
nd
s
Ge
rma
ny
Fra
nc
e
Lu
xe
mb
ou
rg
Ita
ly
US
A
Sw
itze
rla
nd
Un
ite
d
Kin
gd
om
Au
str
ia
Sw
ed
en
Major FDI investors in Poland (FDI stock as of the end of 2010, in bn EUR)
Source: National Bank of Poland 2011
10%
13%
15%
15%
16%
19%
19%
19%
20%
20%
21%
25%
26%
26%
26%
28%
30%
33%
33%
34%
Bulgaria
Ireland
Latvia
Lithuania
Romania
Poland
Hungary
Slovakia
Slovenia
Czech Rep.
Estonia
Ukraine
the Netherlands
Finland
Sweden
UK
Spain
Germany
France
Belgium
Source: http://www.worldwide-tax.com/
Entrepreneurs in Poland pay one of the lowest CIT in Europe
Corporate income tax rates across Europe
Companies with foreign shareholding in Polish regions
Mazowieckie
Podlaskie
Lubelskie
Podkarpackie
Małopolskie
ŚląskieOpolskie
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 23 078 1 518 398
Mazowieckie 8 576 532 109
Dolnośląskie 2 274 145 807
Śląskie 2 077 167 758
Wielkopolskie 2 062 204 216
Małopolskie 1 471 87 956
Zachodniopomorskie 1 299 48 656
Pomorskie 1 246 57 335
Łódzkie 950 75 794
Lubuskie 777 36 252
Kujawsko-pomorskie 571 38 195
Opolskie 471 24 909
Podkarpackie 345 36 566
Lubelskie 343 20 875
Warmińsko-mazurskie
301 14 091
Świętokrzyskie 174 18 704
Podlaskie 141 9 175
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
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 – 20 000 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 aidplot of land prepared for an investment project, available at a competitive pricefree assistance in dealing with formalities relating to the investment project
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
What do these objects have in common?
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
Created in Poland - examples
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
Sectors of opportunities
• Business Services Sector
• Research & Development
• automotive
• machinery
• food-processing
• aviation
• energy: nuclear power plant, renewable energy sources
Why Poland? Summary
Availability of skilled human resources
Economic and political stability
Effective incentives system
Strategic location – gateway to the EU
Thank you for your attentionThank you for your attention
HENRYK SANECKI
Consul, First Counselor
Head of Trade & Investment Section
Consulate General of the Republic of Poland
www.newyork.trade.gov.pl
Presentation upon data given by Polish Information and Foreign Investment Agency
( PAIIZ: www.paiz.gov.pl )
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