Telecoms giant TP disap- Comments from the new Swedish manufacturer
pointed with its Q3 results. US ambassador have Husqvarna is moving
Its forecasts for 2010 earned the Defense lawnmower production
aren’t reassuring either Ministry’s ire from Sweden to Poland
21 3 5
WWW.WBJ.PL
VOLUME 15, NUMBER 43 • NOVEMBER 2-8, 2009 . z∏.9.90 (VAT 7% included) . ISSN 1233 7889 INDEX-RUCH-332-127 Since 1994 . Poland’s only business weekly in English
Oriental interest
REAL ESTATE
Lokale Immobilia
MATEUSZ GO¸ÑB/WBJ
• Office market outlook
• Mayland interview
• Ronson’s 2010 plans
11-15
A bad bet
The prime minister’s
gambling legislation
proposals miss the point
entirely – restrictions on
slot machines won’t
make politicians any
more honest 10
Voice of an
angel
WBJ talks with
American investor Bill
Payne about the risks
and payoffs of angel
investing 7
ISTOCKPHOTO.COM
Poland is fertile ground for Chinese investment, but will it take root?
Systems integrators 16
China’s rise to economic eminence
has been accompanied by lucrative
Climate deal struck
In this issue EU member states came to an agreement last
News . . . . . . . . . . . . . . . . . . . . . . .2-3 investments in many countries. Its week on national CO2 emissions burdens,
Business Environment . . . . . . . . . .4
Industry News . . . . . . . . . . . . . . . . .5
FDI in Poland remains low, but trade something which eastern nations had been
Business Community . . . . . . . . . . .6
is growing at a healthy clip and demanding. The compromise isn’t precisely what
Interview . . . . . . . . . . . . . . . . . . . . .7
Poland wanted, but it paves the way for reform at
Cover Story . . . . . . . . . . . . . . . . .8-9
Opinion . . . . . . . . . . . . . . . . . . . . . .10
Polish officials stationed in the Asian next month’s UN climate conference 3
Lokale Immobilia . . . . . . . . . .11-15
The List . . . . . . . . . . . . . . . . . . . . . .16
nation are reporting an increase in
Tax . . . . . . . . . . . . . . . . . . . . . . . . . .17 the volume of inquiries from
Central & Eastern Europe . . . . . .18
Stocks & Currency . . . . . . . . .20-21
Entertainment . . . . . . . . . . . . . . . .22
Chinese firms. Construction and Legislative gamble
Last Word . . . . . . . . . . . . . . . . . . . .23 manufacturing opportunities have In the aftermath of last month’s gambling scandal,
Prime Minister Tusk is planning new regulations
already lured some companies, and
for the industry. Slot machines located outside
the potential for profitable casinos would be banned, but critics say this would
engagement in Poland is strong 8-9 just force gaming underground 4
2 www.wbj.pl NEWS NOVEMBER 2-8, 2009
Presidential Numbers in the News
poll
IN THE SPOTLIGHT Franciszek Smuda
According to the latest
GfK Polonia poll for
€750 million
is the amount that firms are likely to make from
Rzeczpospolita, only NATO’s planned investments in Poland through to
three candidates stand a 2014, according to Rzeczpospolita.
chance of winning the
presidential elections
next year – current
President Lech Kaczyƒski
(12 percent support);
82%
of entrepreneurs in Poland claim to be undertaking
W∏odzimierz Cimoszewicz
activities related to environmental protection,
(16 percent); and PM
according to a recent PBS DGA poll
Donald Tusk (21 percent).
Kaczyƒski
1.76 million
WOJCIECH ROBAKOWSKI/FORUM
fined is the number of kilometers that the government’s 44
Law and Justice (PiS)
limousines have traveled so far this year, according to
leader Jaros∏aw tabloid Fakt. That distance is the equivalent of going
Kaczyƒski has to around the world 44 times
apologize to former party
colleague Ludwik Dorn for Franciszek Smuda, trainer of coach will be officially present- cotted Poland’s last match in
suggesting that Mr Dorn
does not pay alimony. The
the Ekstraklasa league’s
KGHM Zag∏´bie Lubin soccer
ed at a press conference this
week, at which time he will
the Euro 2012 qualifiers. They
have called on numerous occa-
150,000
former prime minister club, was appointed coach of announce the roster of players sions for the PZPN, an infa- is the estimated number of Ukrainian citizens who
also has to pay a fine of the Polish national team last to play in the national team’s mously inefficient body which work legally in Poland, according to a report by the
z∏.5,000 to charity, week following a unanimous upcoming friendlies with has long harbored corrupt offi- Institute for Public Affairs
according to an October decision by the Polish Football Romania and Canada. cials, to be revamped.
28 ruling from the Court Association’s (PZPN) board. In total, five Polish and 14 Born in 1948 in Lubomia, Quote of the Week
of Appeals in Warsaw. Only one person from the international candidates had in southern Poland, Franciszek
PZPN’s decision-making body, been considered for the post, Smuda is one of the country’s “I’d also ban drinking vodka in January, ban
Stefan Majewski – the national but Mr Smuda had been the most experienced and success-
EU presidency team’s interim coach and a front-runner for several weeks, ful soccer coaches. Before smoking in April and close escort agencies in
goals candidate for the permanent having led in polls conducted joining Zag∏´bie Lubin, he July. In that case, let’s join the Arab countries”
post – abstained from the vote. among soccer fans. In fact, his coached a number of top Pol-
The Cabinet met last Mr Smuda is expected to election to the post has been ish soccer clubs, including Stanis∏aw Matuszewski, head of the Chamber of Commerce of Producers and
week to discuss Poland’s hold the position at least widely interpreted in the Pol- Legia Warsaw, Wis∏a Kraków Operators of Amusement Equipment, gives Rzeczpospolita his opinion on the
list of priorities for its through the Euro 2012 soccer ish media as an attempt by the and Lech Poznaƒ. He has won government’s newly drafted gambling legislation
six-month presidency championship, which is being PZPN to appease disgruntled three Polish championship
over the European co-hosted by Poland and fans. titles and is the last coach to Figures in focus
Union, which it will take Ukraine; his salary will, Dissatisfied with PZPN have taken a Polish soccer
over from Hungary in according to Rzeczpospolita, policies and the poor perform- team to the group phase of the Tourism in decline
July 2011. The most amount to approximately ance of the Polish national UEFA Champions League. Percentage change in number of nights spent in hotels and
important issue for the z∏.100,000 per month. The new soccer team, soccer fans boy- Adam Zdrodowski similar establishments in H1 2009, compared with H1 2008
presidency will be 0
negotiations on the EU’s
2014-2020 budget. On WBJ.pl -5
GDP forecasts Plan ahead for the weather with WBJ.pl -10
increased Neither snow nor rain nor heat nor gloom of night keeps
-15
WBJ.pl from reporting the news, but they could affect
Economists from JP your business. Keep up with all the latest weather -20
Morgan have increased updates on our website and avoid unpleasant surprises.
their Q3 GDP forecast for Just click the “Today’s Weather” link on the right side of -25
Poland to 2.2 percent. Germany Poland EU 27 Czech Hungary Estonia Bulgaria Slovakia Lithuania Latvia
our homepage just below the navigation bar for national Republic
This is the most
optimistic forecast
and regional forecasts. Source: Eurostat
announced by economists
recently. The Finance Company index
Ministry estimates Q3
growth at 1.2 percent,
DATELINE Agora . . . . . . . . . . . . . . . . . .21 Fonciere Euris . . . . . . . . . . .15 Nowy Adres . . . . . . . . . . . . .13
Amazon . . . . . . . . . . . . . . . . . .5 Gazprom . . . . . . . . . . . . . . . . .2 Otto Versand . . . . . . . . . . . . .5
while the chairman of the
National Bank of Poland
November Amplico OFE . . . . . . . . . . . .12
Arcandor . . . . . . . . . . . . . . . . .5
Arcapita . . . . . . . . . . . . . . . .14
GE Real Estate . . . . . . . . . . .12
GfK Polonia . . . . . . . . . . . . . .2
Gino Rossi . . . . . . . . . . . . . .21
Panattoni Europe . . . . . . . . .13
Pekao . . . . . . . . . . . . . . . . . .12
PGNiG . . . . . . . . . . . . . . . . . . .2
hopes to see 1.4-1.5 4-5 FORUM & FAIRS 16-17 CONFERENCE Arcapita Industrial Globe Trade Centre . . . . . . .13 Pinnacle . . . . . . . . . . . . . . . .14
Management . . . . . . . . . . . .14 Goldstein & Lee . . . . . . . . . . .6 PKO BP 7, 12, . . . . . . . . . . . .20
percent. (Poland A.M.) Event: Central European Economic Forum, the Cen- Event: LNG - Resources, Transport, Business Artegence . . . . . . . . . . . . . . .15 Grupa Budimex . . . . . . . . . .14 PointPark Properties . . . . . .14
tral & Eastern Europe Business Tourism Fair Models, Marriott Hotel, Warsaw. Organizer: Asseco Business Grupa KoÊciuszko Polskie Pol-Aqua . . . . . . . . . . . . . . .11
and the ANDRENALINA Event and Incentive Top Consulting Conferences and Trainings. Solutions . . . . . . . . . . . . . . .21 Jad∏o . . . . . . . . . . . . . . . . . . . .4 Polfa Lublin . . . . . . . . . . . . . .9
PGNiG- Fair; EXPO XXI Warsaw International www.topconsult.nazwa.pl/nowa_tcct
Asseco Group . . . . . . . . . . . .21 Grupa Lotos . . . . . . . . . . . . . .7 Polfa Warszawa . . . . . . . . . .21
Asseco Poland . . . . . . . . . . .21 Hardwork Communications .4 Polish Pharmaceutical
Gazprom deal Expocentre. Organizer: MeetingsPoland.pl.
18-20 REAL ESTATE EXPO
Asseco Slovakia . . . . . . . . . .21
Bioton . . . . . . . . . . . . . . . . . .21
Hasco-Lek . . . . . . . . . . . . . . .9
Hermanowicz Rewski
Holding (PHF) . . . . . . . . . . .21
Polska Grupa Energetyczna
www.ang.btf.waw.pl BRE Bank Hipoteczny . . . . .12 Architekci . . . . . . . . . . . . . . .14 (PGE) . . . . . . . . . . . . . . . . . . .21
Russia will increase gas Event: MAPIC, Cannes, France. Organizer: Reed BZ WBK . . . . . . . . . . . . . . . .12 Hines Poland . . . . . . . . . . . .15 PPL . . . . . . . . . . . . . . . . . . . .11
deliveries to Poland, 4-7 CONFERENCE MIDEM. www.mipim.com/en/mapic Cabletel . . . . . . . . . . . . . . . .21 HSBC Premier . . . . . . . . . . .12 Pracuj Group . . . . . . . . . . . . .4
Casino Group . . . . . . . . . . . .15 HTL-Strefa . . . . . . . . . . . . . .21 Quelle . . . . . . . . . . . . . . . . . . .5
under the terms of a deal Event: 9th International “Transport System Telemat-
ics” Conference, Katowice-Ustroƒ.
18-20 ENERGY FAIR CB Richard Ellis Polska . . .13 Husqvarna . . . . . . . . . . . . . . .5 REAS . . . . . . . . . . . . . . . . . . .12
signed last week by Polish Event: ENERGETICS 2009 Energy Fair, International
Centrum Eventów . . . . . . . . .4 ING . . . . . . . . . . . . . . . . . .5, 21 Redan . . . . . . . . . . . . . . . . . . .9
gas provider PGNiG and www.tst-conference.org China Overseas Engineering ING Bank Âlàski . . . . . . . . . . .5 Ronson Development . .11, 12
Lublin Fair Centre in Lublin. Organizer: Inter- Group Co. (COVEC) . . . . . . . .8 ING Direct USA . . . . . . . . . . .5 Ronson Europe . . . . . . . . . .12
Russia’s Gazprom. The national Lublin Fair. Colliers International Internet Standard . . . . . . . . .5 RWE . . . . . . . . . . . . . . . . . .4, 5
5-6 CONFERENCE Poland . . . . . . . . . . . . . . . . .13 ITI . . . . . . . . . . . . . . . . . . . . . .7 Skanska Property Poland . .13
deal will run through www.targi.lublin.pl/index.php
Event: 8th Sports Marketing Days international sport Cushman & Wakefield . . . . .15 ITR Dori . . . . . . . . . . . . . . . .12 Stihl . . . . . . . . . . . . . . . . . . . .5
2037, and still needs to be Dom Development . . . . . . . .14 Jones Lang LaSalle . . . .12, 13 Totalserve (Polska) . . . . . . .17
& business event, Olympic Center, Warsaw.
approved by both 24 CONFERENCE DTZ Polska . . . . . . . . . . . . . .13 JP Morgan . . . . . . . . . . . . . . .2 TP . . . . . . . . . . . . . . . . . .20, 21
Organizer: Sport & Business Foundation. DuPont . . . . . . . . . . . . . . . . . .7 King Sturge Property TPV Displays . . . . . . . . . . . . .9
governments this month. Event: New Europe GRI 2009 – Real Estate Invest- ECE Projektmanagement . .13 Management . . . . . . . . . . . .12 TVN . . . . . . . . . . . . . . . . . . . . .7
www.dms.sbf.pl/en
It should provide Poland ment and Development in Enea . . . . . . . . . . . . . . . . . . . .5 Kredyt Bank . . . . . . . . . . . . .12 Unibep . . . . . . . . . . . . . . . . .14
Erbud . . . . . . . . . . . . . . .12, 15 LIM Medical Center . . . . . . .13 V-Agra . . . . . . . . . . . . . . . . . . .9
with 11 billion cubic 6-15 FILM FESTIVAL Central/Eastern/South Eastern Europe,
Ershisanye Construction LOT . . . . . . . . . . . . . . . . . . . . .7 Vectra . . . . . . . . . . . . . . . . . .11
meters of gas annually, Event: 3rd annual “Sputnik over Poland” Russian InterContinental Hotel, Warsaw. Organizer: Group . . . . . . . . . . . . . . . . . . .9 LPP . . . . . . . . . . . . . . . . . . . . .9 Warimpex Finanz- und
a source close to the Film Festival, Warsaw. Global Real Estate Institute. Eurochiny . . . . . . . . . . . . . . . .9 Mayland . . . . . . . . . . . . .11, 15 Beteiligung . . . . . . . . . . . . . .14
Eurocom . . . . . . . . . . . . . . . .21 Minmetals Construction Westdeutsche
negotiations told Reuters. www.sputnikfestiwal.pl www.globalrealestate.org Eurohypo . . . . . . . . . . . . . . .13 Poland . . . . . . . . . . . . . . . . . .9 ImmobilienBank . . . . . . . . .13
(WBJ) Euroimplant . . . . . . . . . . . . .17 NFI Victoria . . . . . . . . . . . . .21 Wierzbowski Eversheds . . . .8
NOVEMBER 2-8, 2009 NEWS www.wbj.pl 3
Polish-US diplomacy Climate deal Lepper inquiry
An atmosphere ended
Not ‘enhancing’ of compromise
It seems that the truth
about the Central
Anticorruption Bureau’s
relations Poland and its
neighbors have won a
compromise on CO2
during the UN climate summit
in Copenhagen next month.
Sweden, which currently
(CBA) famous raid of the
Agriculture Ministry in
July 2007 will never
come to light. The main
A row over Poland’s emissions, but the holds the EU’s rotating presi- political question was
commitment in deal isn’t as sweet as dency, had advocated that the whether or not then-
Afghanistan has cast EU wait until after the Decem- Agriculture Minister
they had hoped ber summit to strike a deal on Andrzej Lepper had been
a new shadow over
emissions premiums. Poland, warned of the raid in
Polish-US ties An agreement on the costs EU which had proclaimed its will- advance. The prosecutor
member states will have to pay ingness to pay a maximum of has announced that the
Lee A Feinstein, the new US to fight global warming was €10 (z∏.42.5) million annually, investigation into the
ambassador to Poland, ruffled reached last week during a feared it would be forced to case has been dropped.
a few feathers at the end of summit in Brussels. Poland pay more after Copenhagen.
COURTESY OF WOJSKO POLSKIE
October when he seemingly had positioned itself as the Thus, Polish diplomats moved
expressed his thanks that