Lower Silesia

The Province of Lower Silesia is one of the most innovative Polish regions in the fields of human resources, the standard of scientific research, innovative businesses, and in the quality of institutions supporting the development of the economy based on knowledge and attractiveness of investment.

Higher education in Lower Silesia is ranked high within Poland. Wrocław University of Technology and Wrocław University are among the best educational institutions in the nation. The region also leads in terms of the number academic staff and graduates.

The special economic zones are the base for economic development. Wałbrzyska Special Economic Zone, Wrocław Technological Transfer Centre and Wrocław Technological Park are among the leaders in the country.

The academic areas in Lower Silesia Province with excellent future prospects include study of low temperatures and structural studies, bioelectronics, biochemistry, biophysics, biotechnology and medical technologies, chemistry, energy, medical physics, advanced materials and nanotechnology, medicine, mathematical modelling, earth studies, optical electronics, information and communication technologies, and telecommunications.

The Lower Silesian educational institutions are successful in obtaining EU funds for the development of research infrastructure and the conduct of research from the Innovative Economy Operational Programme and the Seventh European Union Framework Programme. The Lower Silesian academic circles aim to be important partners of the European Technological Institute.

Companies, in particular those with emphasis on innovation, will soon be able to take advantage of the funds from the Regional Operational Programme for 2007-2013 to support the competitiveness of Lower Silesian enterprises. The funds will go directly to companies as subsidies, through funding by Business Support Institutions, the region’s research and development infrastructure, and through strengthening the loan sector by establishing the Lower Silesian Trust Fund within the JEREMIE initiative.

The region’s activities in supporting innovation have received various awards, including the French Territoria Europa 20007 award and at the “Leaders in introduction of regional innovation strategies” competition organised by the Polish Agency for Enterprise Development (PARP).

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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PODCAST

• Storm over homoerotic art show at Warsaw’s National Museum

• Poland’s new president Bronislaw Komorowski: a pragmatic, pro-business, euroenthusiast

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

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WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

MARKET INFO

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