For Poznań, Poland’s fifth largest city, 2016 was a fantastic year. Not only were 1,700 new firms set up, taking advantage of the city’s convenient location between Warsaw and Berlin, but also Poznań attracted more tourists — the number of overnight stays skyrocketed by 18 per cent. In addition, the manufacturing and retail sector grow by nine and thirteen per cent respectively, labour productivity increased by six per cent and unemployment didn’t even reach two per cent — the lowest in Poland. Continue reading Poznan: Translating Entrepreneurship into Understanding Business Services
Large cities have been on the radar of foreign companies that are looking to outsource in Poland, for several years now. With its academic potential, IT traditions and proximity to the large pool of talent in Ukraine and Belarus, Lublin is an interesting alternative. Continue reading Lublin: Building a Reputation as a Business Services Destination
When Ukraine makes the headlines, it is generally because of the war, which started in 2014, in the eastern part. This has hugely influenced the political and economic situation of the country, including the ease of doing business. However, it’s unjustified to think that, given the circumstances, investing in the whole country makes no sense. Continue reading Western Ukraine Could Be an Entry Point into the Country
New VAT forms that companies submit to the tax office and an updated list of products and services with a lower VAT rate are only a few of the procedures that have resulted from the Ministry of Finance’s five recent decrees. In July 2016, the Parliament approved new amendments to the VAT law in order to reduce informal economy. The Ministry of Justice plans on fighting the informal sector even further with terms of imprisonment for up to 25 years for tax fraud. Provisions against tax evasion have recently been introduced. Continue reading Do Your Homework First and Starting Business in Poland is Easier
Countries of Central and Eastern Europe, which joined the European Union between 2004 and 2013, have seen rising standards of living and are ranked amongst some of the most socially advanced countries worldwide, according to the Social Progress Index (SPI). Continue reading EU Membership and Transition into Market Economies Have Helped CEE Achieve Social Progress
Unlikely and unusual as it may seem, in a national general multi-subject primary school test, taken last May, final grade pupils in Kosovo achieved higher results in English than in their mother tongue. The subject with the second highest score was computer studies. Continue reading Kosovo: A Population of Talented Young Entrepreneurs Waits at Europe’s Door
SEE Link was officially launched at the end of March 2016, and is growing rapidly in terms of its member exchanges. The shared platform, which was originally set up by the stock exchanges in Zagreb, Sofia and Skopje, aims to rationalise and connect the relatively small capital markets of south-eastern Europe. It now has four new members that applied and will be connected to the platform this year: Ljubljana, Belgrade, Montenegro and Banja Luka. In addition the Athens Stock Exchange has recently submitted membership application and Bucharest intends to do so later this year.
The number of non-financial reports is growing and according to the Global Reporting Initiative (GRI), around 5,000 sustainability reports enter the global market, annually with 40 per cent out of those coming from Europe. A group of strong leaders, in non-financial reporting, has already been established in Central and Eastern Europe. The Deloitte CE Top 500 ranks the largest companies from CEE countries and 109 of them already have some form of non-financial reporting in place or at least will report non-financial data for 2015.
Last year’s wire-tapping scandal, where the national security services allegedly recorded some 670,000 conversations from over 20,000 phone numbers illegally, paralysed the small Balkan nation of Macedonia. It is now a year later and the country, which has been an EU candidate since 2005, is trying to move on. Continue reading Macedonia — Stepping Out Of the Shadow Of the Balkans
“External factors should be generally supportive, with stronger growth momentum within the EU, low interest rates and quantitative easing by the ECB, subdued commodity prices and the stabilisation in Russia,” Paul Gamble, Senior Director at Sovereign Group, Fitch Ratings, tells Emerging-Europe.com. Continue reading Fitch And the World Bank: Economic Growth To Remain Solid Within CEE In 2016
Over the last decade Poland has made notable strides in improving local conditions for domestic and foreign businesses. In the World Bank’s Doing Business Report 2016 the country was ranked 25th globally, as opposed to 70th in 2011. That along with a massive EU fund influx €67.3 billion between 2007 and 2013 helped Poland see the levels of foreign direct investment (FDI) recover. In 2014, Poland attracted FDI of €13 billion. The year before, foreign companies had invested a mere €112 million, according to UNCTAD’s statistics. Continue reading Poland’s Political Shift — What Should Investors Expect?
Business people and government representatives from around the globe keep an eye on Central and Eastern Europe and often pay a visit to assess the region’s economic potential. Last September a large Brazilian delegation headed by Brazil’s Vice President, Michel Temer, came to Poland to discuss business and investment. Emerging-Europe.com speaks to David Barioni Neto, President of the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), about business opportunities between the two countries.