Honorary Patronage Minister of the Treasury Aleksander Grad

Transcription

1 3 rd Investment Forum Of the Economic Forum September 7-8 th, 2010 Honorary Patronage Minister of the Treasury Aleksander Grad Investment Forum of the Economic Forum will gather selected investors from Poland and Central-Eastern Europe as well as representatives of governments and parliaments, who are responsible for the course of privatization processes in Central Europe. On the one hand, the conference will be an endeavour to recapitulate the results of the economic transformation in Central-Eastern Europe and it should be an opportunity to introduce propositions of privatization policy for the time of the crisis. September 7 h, :00 a.m p.m. Guests Registration September 7 h, :45 a.m. 01:00 p.m. - Welcoming speeches: Stanislaw Kracik, Voivod of Malopolska Voivodship, Marek Nawara, Marshal of Malopolska Voivodeship Ryszard Scigala, Mayor of the Tarnow City p.m. Opening plenary session Year of the Big Privatizations The year 2010 is likely to become a record year as regards the number of large IPOs - initial public offerings. This is good news both for individual and institutional investors: being the promise of profit and larger diversity of portfolios, interesting offers have always been at the centre of investors' attention. This is also good news for the capital market in Central and Eastern Europe and for budgets of particular countries which always treat revenue from privatization as a significant contribution to their budgets. It seems worth making a certain summary today to check whether the reality has fulfilled the expectations of governments, stock exchanges and investors and whether it will be possible to attain set goals by the end of the year? Jacek Socha, Vice-President, PricewaterhouseCoopers, Poland

2 Aleksander Grad, Minister, Ministry of the Treasury, Poland Yurii Yakovliev, Vice-Chairman, State Property Fund of Ukraine, Ukraine p.m. coffee break p.m. - Discussion panel: Investment as a way to overcome the crisis The net worth of the 20 largest investment projects of companies planned for the coming years in Poland exceeds PLN 75 billion. If we add plans related to infrastructure (motorways, underground, railways and airports), the value of the largest projects, the estimated value of which exceeds PLN 1 billion, will exceed PLN 120 billion. Moreover, when we also add projects worth more than PLN 500 million, it will turn out that in the next four to five years, local governments and the state government will accomplish investments the value of which will reach PLN billion. Poland, then, is facing an investment boom related to the particularly good results of its economy. Will other countries in the region, for which the economic crisis was much less benign, be able to, and should, have such ambitious investment plans? Can investments become a driving force for economic development for them? Partner: Malopolska Voivodeship Roman Ciepiela, Deputy Marshal, Malopolska Voivodeship, Poland Wardan BostandŜjan, Vice-Chairman of the Economic Affairs Committee, National Assembly of the Republic of Armenia Konrad Jaskóła, President of the Board, Polimex-Mostal S.A., Poland Marek Sokołowski, Vice-President of the Board, LOTOS Group Nazim Mamedov, Deputy Chairman of the Economic Policy Committee, Parliament of the Republic of Azerbaijan Wojciech Szczepanik, Vice-President of the Board, Małopolska Regional Development Agency, Poland p.m. lunch p.m. - Discussion panel: Energy sector - Security - Effectiveness - Politics Energy security has been one of the most significant parameters determining current policy of each European country as well as the European Union as a whole for many years. In many countries power distribution systems require considerable investments, which creates the possibility of creating modern and more efficient power plants, refineries and transmission networks, which will make allowances for programmes counteracting climactic changes. Will particular countries be able to attain their energy-related goals without yielding under the pressure of exporters of energy raw materials? Is it possible to attain very ambitious ecological goals? Will regulations suggested by the European Union not contribute to the weakening of this branch of the economy?

3 Janusz Steinhoff, Senior Adviser, Roland Berger Strategy Consultants, Poland Marek Serafin, Member of the Board, PKN ORLEN S.A.,Poland Michał Szubski, Polish Oil and Gas Company, President of the Board, Poland Ireneusz Łazor, President of the Management, Board Clearing House for Commodity Exchanges, Poland Robert Soszyński, President of the Board PERN Dariusz Marzec, KPMG - Director p.m. coffee break p.m. - Discussion panel: Restructuring or privatization? The chemical sector in the Central and Eastern Europe - the role of the state in the economy The chemicals market in Central and Eastern Europe is undergoing transformation, being currently dominated by small and medium enterprises, which is why the process of consolidation is still in progress. Many experts highlight the fact that the chemical industry in the region must be privatized, restructured and, to a large extent, co-financed, because otherwise, in the long run, it will not be able to successfully compete on the common European market. However, the answer to the question whether the countries from that region will be able to unify the strategy of action and successfully implement indispensable changes still remains unknown. Jerzy Marciniak, President of the Board - Director General, Azoty Tarnów, Poland Remigiusz Paszkiewicz, President of the Board, Anwil S.A., Poland Ryszard Kunicki, President of the Management Board, CIECH S.A., Poland Paweł Jarczewski, Zakłady Azotowe Puławy S.A., President of the Board, Poland Krzysztof Jałosiński, President of the Board, ZAK S.A., Poland p.m. coffee break 7:00-8:00 p.m. Presentations of investment offers Moderator - Krzysztof Kalicki, President of the Management Board, Deutsche Bank Polska S.A. Krzysztof Kosiński, Director, Ministry of Treasury Zbigniew Prokopczyk, Director of Real Estate Management Team, Military Property Agency Jurij Jakowlew, Vice-President, State Property Fund of Ukraine Jacek Bielawski, Project Manager, Cracow Technology Park Roland Lielbriedis, Head of the Representative Office In Poland, Investment and Development Agency of Latvia Teresa Kamińska, President of the Board, Pomeranian Special Economic Zone Ltd 8:20 p.m INVESTMENT FORUM AWARDS CEREMONY

4 Investment of the Central and Eastern Europae 2010 Investor of the Central and Eastern Europae :30 p.m. TAURON Night Sala Lustrzyna, Wałowa 10, Tarnow 08:00-11:30 a.m. Guests Registration September 8 th, : a.m. Presentations of investment offers Moderator-Ryszard Ścigała President, Tarnów City Council Monika Konsor-Fąferek, Marketing Director, PCC Intermodal S.A. Tomasz Bogus, President of the Management Board, Bank Pocztowy Krzysztof Kosiński, Director, Ministry of Treasury Jurij Jakowlew, Vice-President, State Property Fund of Ukraine Jacek Bielawski, Project Manager, Cracow Technology Park 10:00-10:15 a.m coffee break 10:15-11:15 a.m.- Discussion panel: Will a new financial centre be created in the Central and Eastern Europe? Many experts predict that around 2020 there will be only 5 stock exchanges in Europe. Such a perspective is a great incentive for all European stock exchanges, since at the moment of creation each of them assumed that it would achieve the position of leader in their region. It seems that it is the Warsaw Stock Exchange that stands the greatest chance of becoming the leader in the region as it is already the leading stock exchange in that regard in terms of value of market, turnover and the variety of available financial instruments. Despite such promising signs, we must not disregard occurring threats, the more so that the financial centre, besides the stock echange, also includes advanced investment and financial services as well as analytical centres and specialized professions servicing market participants. Moreover, other financial centres in the Central and Eastern Europe are far from renouncing their ambitious goals. Mateusz Morawiecki, President of the Board, Bank Zachodni WBK, Poland Ludwik Sobolewski, President of the Management Board & CEO, Warsaw Stock Exchange, Poland Laurent Truflandier, Head of Corporate Development Services, Intesa Sanpaolo SpA, Italy Adam Leszkiewicz, Undersecretary of State, Ministry of the Treasury, Poland Kazimierz Marcinkiewicz, Former Prime Minister Goldman Sachs,Poland Robert Windmill, Partner, Windmill Gąsiewski & Roman, United Kingdom

5 11: a.m. - coffee break :30a.m. Discussion panel: Restructuring or privatization? When to enter the stock exchange? A crisis which is when the spirit of a stock exchanges is somewhat low and capital retreats to safer climes as the exchange seems far less attractive. However, many companies have found themselves in the situation where they have no choice but the stock exchange, being the only way for them to find the opportunity for development or acquisition of capital. Naturally, the crisis triggers a considerable risk that the issue of shares will be less successful than during boom times. However, the cost of withdrawing from the issue may exceed the level of losses related to the issue during recession. In Poland, where we witnessed a slowdown of the economy rather than its shrinking, the prospects of entering the stock exchange are quite optimistic. However, in other countries of the region the situation is much worse, hence the owners of companies there are bound to be more careful. Robert Gwiazdowski, President, Adam Smith Research Centre, Poland Wiesław Skwarko, Member of the Management Board, ZAK S.A., Poland Dariusz Tokarczuk, Managing Partner, Gide Loyrette Nouel Warsaw Office, Poland Dariusz Lubera President of the Board, Tauron Polish Energy S.A., Poland Andrzej Klesyk, President of the Board / CEO, PZU SA, Poland Jarosław Myjak, Vice-President of the Board, PKO Bank Polski, Poland 12:30 closing remarks LUNCH