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Minister Grad visited France
On 11 March 2010, Mr. Aleksander Grad, Minister of Treasury, paid a one-day visit to Paris to meet with French investors. Taking the opportunity, Minister Grad acquainted investors with investment opportunities offered by the currently implemented Polish Privatisation Programme 2008-2011. One of the main events during the visit was a conference dedicated to Polish privatisation plans which was held at the headquarters of MEDEF (French Business Confederation), attended by the Polish Ambassador to France, Mr. Tomasz Orłowski.
Launched in 2008, Polish “Privatisation Programme 2008-2011” is first ever privatisation programme with such scale and coherence and also one of the most ambitious privatisation efforts in the world. According to the Programme, over 800 state-owned companies operating across several economic sectors in Poland will be sold to private investors by 2011. The estimated budgetary proceeds from the Programme amount to 9 billion euro and the year 2010 is due to see the highest ever number of privatisation transactions and the highest-ever financial profits related thereto. In august 2009 the Ministry of Treasury released a list of 54 key companies operating across various sectors (including energy, chemical and financial industries) which are scheduled for sale by the end of 2010.
- “Polish market is becoming increasingly attractive to foreign capital. Due to our successful attempts to handle the economic crisis and being the only EU country to record positive growth in the previous year, we are aware that foreign investors have put even more focus on the Polish economy and are considering capital investment opportunities in our market,” said Aleksander Grad, Minister of Treasury. “France is one of the leading foreign investors in Poland, as shown by the fact that there are currently over 800 companies in Poland with French capital. We are looking forward to strengthening cooperation between our countries”, the Minister concluded.
Years 2001–2008 saw a 90 per cent growth in the number of French investments in Poland. The value of these investments towards the end of 2008 totalled 20bn euro. Moreover, in 1990-2009 the Ministry of Treasury concluded 35 share purchase agreements with French investors concerning the sale of shares held by the Treasury. The total value of these contracts exceeded 6.7bn euro. CCIFP (French Chamber of Commerce and Industry in Poland) survey has shown that the Poles would welcome French investments in the following sectors: road infrastructure, telecommunications, food industry, railways infrastructure, science or construction industry.
Polish and French companies cooperate in prospective economy sectors of key importance. For example, towards the end of the last year a memorandum was signed between Polska Grupa Energetyczna (PGE) and Electricite de France (EdF) concerning the cooperation in the nuclear energy sector. Among the biggest French investors in Poland are also such companies as France Télécom, Casino, Carrefour, Crédit Agricole, Société Générale, Michelin, Lafarge, Saint-Gobain or Accor.
Minister Grad’s visit to France was organised, among others, by the Department of Trade and Investment Promotion of the Polish Embassy in Paris and MEDEF International.
Author : Public Relations Office
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