Transcript Slide 1
Mark Hofman • Overthrew communist rule in 1989 • Joined the European Union in 2004 • Population of 40 million • 6th largest economy in the European Union • Ranked of “Very High Human Development” 1 • Polish gross national income (GNI) per capita €13,276 1 Hungary (2005 - 2011) €12,613 1 Slovakia (2005 - 2011) €15,214 1 Czech Republic (2005 – 2011) €16,285 1 United Nations: Human Development Index 2011 1 http://hdr.undp.org/en/media/HDR_2011_EN_Table1.pdf • GDP: (purchasing power parity) €580.9 billion (21st) 2 • Exports have grown from €40.19 billon - €112.7 billon (2001 – 2011) • Imports have grown from €56.03 billion – €124.3 billion (2001 – 2011) 3 • Agricultural products: potatoes, fruits, vegetables, wheat, poultry, eggs, pork, dairy • Core Industries: machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing, glass, beverages, textiles, rubber, electronic, plastics CIA World Factbook 2 https://www.cia.gov/library/publications/the-world-factbook/geos/pl.html Invest in Poland 3 http://www.paiz.gov.pl/poland_in_figures • In 2010 total bilateral Polish - British trade was worth €11.4 billion • Polish imports from Britain totalled €4.29 billion • Polish exports to Britain reached €7.11 billion • The UK exports as many goods to Poland as to India • More goods are exported from Britain to Poland than to Australia, Russia or Turkey • Britain is Poland's 3rd largest export market (after Germany & France) • 300 flights per week between the Britain – Poland & 2 direct freight trains between Wroclaw and London 4. UK Trade & Investment http://www.ukti.gov.uk/de_de/uktihome/search.html?search=poland&sort=ByScore • Poland is ranked the worlds 6th most attractive investment location 5 • The Polish economy grew 4.3% in 2011 and has so far stayed out recession 6 • In recent years the Polish economy has been developing at twice the rate of Western Europe • Young well educated workforce, many of whom speak English • A strong strategic location at the heart of Europe and mid-way point for the historic Berlin – Moscow trade route • Competitive labour costs and a large internal market • Poland has a stable market orientated multi – party democracy 5 United Nations Conference on Trade & Development: World Investment Report 2011 http://www.unctad.org/Templates/Page.asp?intItemID=1465&lang=1 6 Invest in Poland http://www.paiz.gov.pl/invest_in_poland • Corporate income tax is 19% • Personal income tax is in two bands – 18% and 32% • Basic rate of VAT is 23%, which applies to majority of goods and services • 5% - 8% VAT rate for many everyday items • 0% VAT for export goods, international transport services and intra – community supply of goods • Total of 9 direct and 3 indirect taxes 7 Krakow Info http://www.krakow-info.com/taxes.htm • Local authorities can provide grants and tax incentives for investors • Subsidies co – financed with the EU’s structural funds, worth €67 billion – 2013 • 14 Special Economic Zones offering exemption from income tax, real estate tax, subsidies for hiring the unemployed and employee training • Polish government is offering generous incentives for investors in the following sectors: • Automotive • Aviation • Machinery & steel industry • Service centres • R&D •IT • Telecommunications 8 Invest in Poland http://www.paiz.gov.pl/publications/about_poland • Energy • Biotechnology • Electronics • Domestic appliance market • Boat building • Industrial design • British Polish Chamber of Commerce • Invest in Poland Agency (Palilz) • Polish Agency for Enterprise Development (PARP) (SME’s) • UK Trade & Investment Poland • Enterprise Europe Network • Warsaw Chamber of Commerce • Warsaw Business Journal (Market trends and economic forecasts) • Point to Point Export Services (Private sector) Mark Hofman