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The Warsaw Voice » Business » April 30, 2014
Business & Economy
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In Brief
April 30, 2014   
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Cash for Enterprise Development
The Polish government plans to spend zl.25.4 billion by 2020 on fostering entrepreneurship under the Economy Ministry’s Enterprise Development Program, approved by the government April 8. The program aims to make the economy more competitive as well as to increase expenditure on R&D to 1.7 percent of GDP by 2020, up from about 0.8 percent today. The main focus is on making Polish companies more innovation-oriented. The program will be financed from public coffers and EU structural funds under the bloc’s new budget.

Millions for Innovation
The European Commission has decided to grant Poland 37 million euros for two projects related to the application of innovative technology in the production of laminated glass and tires. The first project concerns the construction of a manufacturing plant in Komorniki in the southwestern Lower Silesia region, where laminated glass components will be produced. The project will begin in May. The second project is based on the introduction of innovative technology in tire production in Poznań in western Poland. The two projects combined will create about 600 new jobs.

Polish Banks ‘Stable’
The Standard&Poor’s financial services company has raised its rating for the Polish banking sector from “negative” to “stable.” S&P says it expects Polish banks to profit from the latest acceleration in the country’s economic growth. The strengths of the Polish banking sector, according to S&P, include Poland’s solid economy and relatively low private sector debt.

Ryanair Base in Gdańsk
Low-cost air carrier Ryanair will invest $90 million to launch a new base at Gdańsk’s Lech Wałęsa Airport this October. This will help increase the frequency of flights and ensure a more convenient schedule, the airline says. Thanks to the new base, seasonal flights from Gdańsk to the British cities of Birmingham, Leeds and Bradford, as well as to Modlin airport near Warsaw, will now be operated throughout the year. Ryanair says the investment will help increase the number of passengers flying from Gdańsk from 500,000 to 700,000 a year. The carrier will provide 94 flights a week, up from 54 today. Gdańsk will be Ryanair’s third base in Poland, after Wrocław and Cracow, and its 66th in Europe.
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