ANALYSES AND REPORTS

Manpower - perspectives on a labor market in 1^st quarter of 2012

The percentage of Polish entrepreneurs who plan to increase the employment is still higher then of those expecting reductions. The majority of companies expects no change in the level of employment.

Of the 750 Polish employers surveyed 14 percent expect to add to their workforces in the coming quarter, 11 percent plan reductions and 71 percent expect no change in payrolls in the January-March time frame.

The strongest optimism for 1st quarter of 2012 is reported by employers from the Transport, Storage & Communication and Finance & Business Services industry sectors. Job seekers in the Construction (+8%) industry sector may also expect some offers in the quarter ahead; the Outlook declines slightly from previous quarter, but improves from Q1 2011 by 8 percentage points, suggesting employers may be moderately more confident in their ability to justify adding to their payrolls compared to last winter season.

Regional Outlooks are modest and indicate the first-quarter hiring pace will slow. Positive hiring intentions are reported in five of the six regions. The strongest regional Outlook is reported in the South region (+7%). (Manpower Group)

Polish equities among the cheapest on emerging markets

According to HSBC Global Research Poland offers the cheapest equities in the CEE.

The authors of HSBC report “Mispriced. CEEMEA equity projections” find Polish valuations among the cheapest on emerging markets what bears testimony to its attractiveness and great investment opportunities compared to the rest of Europe.

Furthermore, the HSBC’s experts note relatively good macroeconomic data: remarkably steady growth, inflation and interest rates under control.

Valuations are attractive by historical standards, and both domestic and foreign liquidity could provide support.

In 2011 EPS (Earning per Share) growth is 27,7%, while the forecasts for EMEA is 20,5%, and for emerging markets 10,4%.

- Our key overweights are Russia, Turkey and Poland - the HSBC’s analysts report - we are reducing Hungary to neutral. Czech and Egypt stay neutral. (HSBC)

---------------------------------------------------------------------------------------------------------

Resume Revolution!

Thursday, 1/12/12 

Tuesday night, 1/17/12 

When there are job shortages, there are plenty of candidates who meet the basic 

employer needs - so it takes more than skills to win. 

The candidates who win jobs have 2 things in common: 

1) They have better information than their competitors 
2) They understand the employers' hiring processes (both formal and informal) 

   better than their competitors 

Why let others beat you in the job market, when you can learn how to get your resume seen more often, get more interviews, and beat the job market in 2012? 

Career advice by live webinar at 

http://ResumeWebinar.com

***

ANALYSES AND REPORTS

Special Economic Zones after 2020

The Ernst & Young report: "Special Economic Zones after 2020 - analysis of the SEZ up to date activity and consequences of their future functioning" was presented on September 28^th, 2011 at the Ministry of Economy.

The Report, which was prepared by a team led by Paweł Tynel - Director of the Grants and Incentives Advisory Services at E&Y, presents the influence Polish SEZ have on economic condition of regions and puts forward solutions concerning the functioning of SEZs after 2020. Entrepreneurs’ opinions concerning the functioning of the zones were gathered in a survey conducted among 215 companies active in all 14 zones in Poland. The companies were active in all the major sectors of the economy.

Since the establishment of the first SEZ in Poland, i.e. 1995 the managements of the zones issued 1354 business activity permissions. The joint value of investments developed within the SEZs totalled PLN 73.2 billion and the number of new jobs created thanks to the projects reached 167,141.

The E&Y analysis proves that regions which host a special economic zone have on average a lower unemployment rate - from 1.5 to 2.9 percentage point and higher GDP 3.9% - 7.5%.

The survey shows that over 50% of the investors who have currently been running business in the zones do not consider establishing new projects if the zones are to exist only by 2020. At the same time the percentage of those who declare to start new projects should the zones exist after 2020, reaches 81%. As many as 96.7% of the surveyed named the CIT exemption as the major advantage which encouraged them to locate their business in a SEZ. Extension of the activity of the Special Economic Zones in Poland would also send a positive signal to investors who consider entering such a zone now. 9 years i.e. the time which is now left till 2020, do not guarantee that all the incentives offered by the SEZ will fully be used by new investors.

The European Commission should not hamper attempts to extend the time of SEZ functioning beyond 2020 if the idea behind zones complies with the common EU regional policy and the regulations in the zones do not violate regulations concerning common regional aid. More in the report which is available for download on our website (only in Polish):
www.paiz.gov.pl/publications/how_to_do_business_in_poland. (E&Y)