Warsaw Business Journal

07/02/2025

Poland’s Central Bank Rejects Bitcoin for Reserves 💰

⛔ The National Bank of Poland (NBP) has made it clear: Bitcoin won’t be part of its currency reserves, as its volatility makes it unsuitable for national reserves.

🏦 NBP President Adam Glapiński emphasized that reserves must be “absolutely secure”, favoring gold, U.S. dollars, and euros instead.

🪙 Poland’s gold reserves have grown in value amid global uncertainty and reached reached €214.19B in Dec 2024, up 22.1% YoY.

With financial stability as the priority, the NBP is sticking to proven assets.

The National Bank of Poland (NBP) has no plans to hold Bitcoin in its currency reserves, citing concerns over safety, according to NBP President and Monetary Policy Council Chairman Adam Glapiński.

05/02/2025

OECD Recommends Progressive Property Tax for Poland 🏡📊

The OECD suggests Poland should shift to a market-value-based property tax, aligning with systems in Denmark and Canada. The current model—based on property size rather than value—fails to reflect taxpayers' true financial capacity.

🔹 Key proposals:
✔ Progressive tax rates set by local governments for fairness & efficiency
✔ Regular property valuations using digital tools
✔ Gradual implementation with deferred payment options

Additional recommendations include emission-based vehicle taxes, fewer VAT exemptions, and higher inheritance taxes to strengthen Poland’s fiscal system.

Would this tax reform be a step toward a fairer system?

31/01/2025

AI Clearing Invests PLN 65M to Expand AI R&D in Poland! 🇵🇱💡

AI Clearing, a Polish-American AI company revolutionizing construction monitoring, is making a major investment in Poland!

🔹 PLN 65M investment over the next 3 years to expand its Warsaw R&D center
🔹 Plans to grow its team to 200 employees
🔹 Uses AI-driven drone imagery to create precise 3D models for real-time construction monitoring
🔹 Revenue tripled in 2024 as demand for AI solutions in construction soars 📈
🔹 Actively recruits top IT talent, collaborating with Polish universities & hosting hackathons

This move aligns with a broader trend of Polish-founded AI companies strengthening their presence in the country, following the footsteps of ElevenLabs in AI voice simulation. 🎯

&D

Business 22:19 30 January 2025 Post by: WBJ AI Clearing to Invest PLN 65 Million in R&D Expansion in Warsaw Source: Press Material

28/01/2025

🌍🚛 InPost Eyes U.S. Expansion 🚀

Rafał Brzoska, the visionary founder and CEO of InPost, has hinted at potential plans to bring his innovative parcel locker system to the U.S. market. In a recent interview with Bloomberg, Brzoska shared how post-Trump policies might open doors for global businesses like InPost.

Having successfully navigated challenges like Brexit to expand across Europe, Brzoska sees America as the next big opportunity. With its booming e-commerce industry, high labor costs, and less-advanced delivery tech compared to Europe, the U.S. is ripe for last-mile delivery automation.

Although Trump emphasized protecting U.S. jobs, Brzoska believes InPost’s solutions could thrive while improving delivery efficiency. While the immediate focus remains on strengthening the UK market, a U.S. expansion could be on the horizon within the next four years.

Would you love to see InPost’s parcel lockers in your neighborhood? 📦✨

International 16:13 27 January 2025 Post by: WBJ InPost’s founder thinks it’s time to move into the American market Source: Pexels

24/01/2025

Steel & Sustainability: A Powerful Partnership 🌱

As ArcelorMittal Poland celebrates its 20th anniversary, CEO Wojciech Koszuta emphasizes steel’s key role in sustainability.

🔋Steel's Role in Renewable Energy: Steel powers wind turbines, solar panels, and rail infrastructure, helping customers lower their carbon footprint.

🚄 Revolutionizing Rail: ArcelorMittal Poland’s 120-meter-long rails enhance safety and support faster, more eco-friendly trains across Poland.

With a 42% reduction in CO₂ emissions and a goal of net-zero by 2050, steel is driving the green transition.

Marking ArcelorMittal’s 20TH anniversary in Poland, WBJ sits down with CEO Wojciech Koszuta to discuss the company’s forward-looking goals.

21/01/2025

Polish Businesses Gear Up for AI Act – But Are They Ready?

🚀 58% of Polish organizations are preparing for the upcoming AI Act, signaling a growing awareness of AI regulations, according to an EY survey.

⚖️ Key Deadlines: Provisions like bans on social scoring take effect in February 2025, urging companies to act now.

📊 AI Adoption Trends:

41%: Customer service & marketing
5%: Compliance (lagging due to data confidentiality & accuracy demands)

💡 Legal Readiness: 25% report strong knowledge of AI laws, a 5% increase y/y, but compliance remains a critical gap.

The clock is ticking – is your organization prepared for the AI Act?

Business 16:09 20 January 2025 Post by: WBJ 58% of Polish companies have started process of adapting to AI Act Source: Pexels

15/01/2025

🎉 Celebrating 20 Years of Excellence at ArcelorMittal Poland

ArcelorMittal Poland recently marked a major milestone: 20 years of innovation, dedication, and leadership in Poland's steel industry!

To commemorate this incredible achievement, a spectacular gala was held with employees, stakeholders, and special guests, including Lakshmi N. Mittal, Executive Chairman of ArcelorMittal, Geert Van Poelvoorde, CEO of ArcelorMittal Europe, and Marzena Czarnecka, Minister of Industry.

💬 "It has been a very successful 20 years. We’ve invested over 10.5 billion złoty to modernize and transform our plants, ensuring ArcelorMittal Poland remains a crown jewel in the steelmaking industry." – said Lakshmi N. Mittal

As we reflect on these two decades of growth, the commitment, passion, and spirit of ArcelorMittal Poland’s team are what will drive future success. Here's to the next 20 years of excellence!

A dazzling gala marked two decades of innovation and dedication in Poland's steel industry, bringing together employees, stakeholders, and distinguished guests, including Lakshmi N. Mittal, to honor past achievements and look ahead to a bright future.

08/01/2025

"The Polish housing market has matured considerably, with today’s clients prioritizing energy efficiency, sustainable materials, and smart home solutions." – Béranger Dumont

Read the entire interview, where Béranger Dumont of BPI Real Estate Poland reflects on:

🏡 15 Years of Growth: Since 2009, BPI Real Estate Poland has driven innovation in the Polish residential sector, blending sustainability with cutting-edge trends.

🌿 Sustainability at the Core: Client priorities now focus on energy-efficient, environmentally conscious, and smart living spaces.

🌟 PianoForte – A Jewel in Warsaw: Nestled near iconic green spaces like Łazienki Królewskie, this premium development marries urban vibrancy with tranquil luxury.

Read the interview with BPI Real Estate Poland: https://wbj.pl/bpi-real-estate-redefining-warsaws-premium-living/post/144438

03/01/2025

🌐 Boosting Innovation in Poland's Cybersecurity Sector

Exciting news for SMEs in Poland's cybersecurity industry! The Ministry of Digitization has announced funding opportunities of up to €1.8 million as part of the "Digital Europe" program.

🔹 Focus areas: Supporting product and service development, enhancing brand visibility, and achieving certifications.
🔹 Applications: Expected to open between Q1–Q2 this year.
🔹 Facilitators: Managed by the Centre for Digital Poland Projects and the National Cybersecurity Competence Centre.

This initiative, backed by EU and national budgets, is designed to drive innovation and strengthen Poland's cybersecurity capabilities. As Deputy Minister Paweł Olszewski highlights, empowering SMEs plays a vital role in fostering a more innovative economy.

Business Technology 22:12 2 January 2025 Post by: WBJ MC: SMEs may benefit from €1.8 mln to support cybersecurity Source: Pexels

30/12/2024

📊 Polish companies prioritize digital transformation, with poor results

While 84% of Polish companies emphasize digital transformation, only 40% have achieved basic technology adoption—significantly below the EU average of 55%, according to the World Bank.

“Digital skills are essential across all areas, not just IT,” says Joanna Mihułka-Petru, CEO of Altkom Academy. Gaps in data analysis, digital sales, and advanced financial tools hinder progress, leaving many businesses struggling to keep up.

The EY Digital Transformation 2024 report highlights where tech adoption has made the most impact:
✔️ Customer service (47%)
✔️ Sales (43%)
✔️ Logistics (36%)

Polish firms must close the gap to remain competitive in a rapidly evolving digital landscape. 🚀

Despite 84 percent of Polish companies prioritizing digital transformation, only 40 percent have achieved basic technology adoption, compared to the EU average of 55 percent.

27/12/2024

🏙️ By extending the city center to the coastline for the first time, Vastint's Waterfront project reconnects Gdynia to its roots as a harbor city while offering new opportunities for businesses, residents, and visitors alike.

"Waterfront is where the fresh sea breeze meets the buzz of business activity, reconnecting Gdynia to its maritime roots while shaping its future." — Janusz Tybuszewski, Vastint’s Project Manager. 🌊

⚓ The development strikes a balance between honoring Gdynia’s rich maritime history and embracing modern growth. Once a small fishing village, Gdynia rapidly grew into a pre-WWII harbor powerhouse, a legacy the project proudly builds upon.

📍 The Waterfront project is transforming Gdynia’s neglected industrial land into a vibrant, modern quarter. It integrates residential, office, cultural, and leisure spaces to create a dynamic urban environment.

Read the interview with Janusz Tybuszewski, Vastint’s Project: https://wbj.pl/from-harbor-to-hub-the-transformation-of-gdynias-waterfront/post/144436

19/12/2024

📊 Mergers & Acquisitions: Key Insights from EY Survey 💼

A recent EY survey reveals that 56% of companies pursue mergers and acquisitions (M&A) to drive growth, with 73% considering acquisitions a core part of their long-term strategy. Other major drivers include:

- Increasing market share (40%)
- Scaling operations & revenue (38%)
- Acquiring customer portfolios (36%)
- Gaining new technologies (33%)

On the flip side, companies selling their businesses often cite strategic realignment (30%) and funding new goals (26%) as key reasons. Notably, 98% of buyers and 90% of sellers reported satisfaction with their M&A deals.

A positive outlook for growth and strategy through M&A 📈

&A

Business 21:06 18 December 2024 Post by: WBJ Survey: for 56% of companies, mergers and acquisitions a path to development Source: Pexels

17/12/2024

Celebrating 20 Years of ArcelorMittal Poland: A Story of Steel, Innovation, and Sustainability!

"Steel isn’t just a material—it’s the fabric of life, from the bikes we ride to the wind turbines powering our future."

Sanjay Samaddar, Country Head Poland and until recently long-time CEO of ArcelorMittal Poland, calls the company his “third child,” reflecting on 19 years of leadership and transformation.

Over the last two decades, ArcelorMittal Poland has invested PLN 10.5 billion into modernizing its six facilities, cutting CO₂ emissions by 42% and dust emissions by 90%. Through automation, AI, and cutting-edge Industry 4.0 tech, they’re forging a cleaner, smarter future for steelmaking.

Snapshot of ArcelorMittal in Poland:

🔷 Leader in Polish industry and the 2nd largest foreign investor
🔷 Over 9,000 passionate employees, some spanning generations
🔷 Decarbonization goals driving the shift toward cleaner energy

Steel shapes our lives and powers economies. With new technologies and innovation, ArcelorMittal Poland is building a future we can all be proud of.

"Without steel, there is no sustainability."

Read the interview with Sanjay Samaddar, published in the latest issue of Warsaw Business Journal. (link in comments)

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13/12/2024

📢 The December-January issue of Warsaw Business Journal is out!

📰 What’s inside?

Exclusive interview with Sanjay Samaddar, Chairman of ArcelorMittal, on the company’s 20-year dominance in the steel industry.

Insights from top industry leaders: Jerzy Tymofiejew (Rex Concepts CEE), Janusz Wojtas (Trasti), Janusz Tybuszewski (Vastint), and Béranger Dumont (BPI Real Estate Poland).

🔍 2024 Roundup Highlights:

🔷 Poland’s impressive economic recovery, but with persistent inflation and demographic challenges.
🔷 A shifting foreign investor landscape amid geopolitical uncertainty.
🔷 Real estate: mixed signals with return-to-office policies boosting investor confidence, while construction faces a slowdown.
🔷 The first year of the Civic Coalition government: major changes in state-owned enterprises—what’s the impact?

💡 In Tech: Explore the effects of the digital age on children’s social skills.

♟️ Special Feature: Garry Kasparov, chess legend, profiled ahead of CEEQA 2025.

📰 Plus all the usual: news roundup, key figures explained, expert opinions, and top industry events.

🕊️ A heartfelt profile of our dearly departed colleague Ewa Boniecka.

🔗 Don’t miss out—grab your copy and enjoy the read!

11/12/2024

Another major step in Poland’s energy future! 🇵🇱⚛️

Poland’s first nuclear power plant in Lubiatowo-Kopalino just gained momentum with Export Development Canada (EDC) expressing interest in financing nearly PLN 6 billion ($1.45 billion). 🌍💰

This adds to the PLN 75 billion pledged by U.S. partners like the Export-Import Bank and International Development Finance Corporation.

Using Westinghouse AP1000 technology, the 3,750 MWe plant is a major step in Poland’s energy transition, with construction starting in 2028 and the first reactor set to power up by 2035. 🔋

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05/12/2024

✈️ A Year of Breaking Records for Polish Airports! 🇵🇱

Poland’s aviation sector is soaring to new heights in 2024:
✨ Kraków Airport surpassed 10 million passengers
✨ Wrocław Airport welcomed over 4 million
✨ Rzeszów Airport broke 1 million for the first time
✨ Warsaw Chopin Airport is about to greet its 20 millionth passenger

By year-end, Polish airports are expected to handle nearly 57 million passengers, a 5 million increase from 2023, according to Infrastructure Minister Dariusz Klimczak.

Major investments are on the horizon, including:
🚀 Expansion at Chopin Airport to accommodate 30 million passengers annually by 2029
🚀 A new runway at Modlin Airport
🚀 Improved rail connections and safety measures

Poland is positioning itself as a hub for modern, efficient, and secure air travel. 🌍 Ready for takeoff? 🛫

Polish airports are expected to handle nearly 57 million passengers by the end of 2024, marking a 5 million increase from last year, Infrastructure Minister Dariusz Klimczak announced Tuesday. This milestone reflects strong growth in the aviation sector, with airports like Kraków surpassing 10 mill...

04/12/2024

Do you want to be hired by AI?

A recent Pracuj.pl survey shows how AI is reshaping recruitment in Poland:

📄 31% of workers have used AI to create CVs.
💼 61% appreciate AI-driven job recommendations tailored to their experience.
🧐 However, only 24% support AI autonomously selecting candidates, with 41% expressing concerns and preferring human oversight.

🔍 Key Trends:

38% support AI-recommended candidates, but recruiters should make the final call.
Automated job-matching is especially popular among women (67% vs. 55% of men).
57% value auto-filled CVs using recruitment portal data, but opinions are divided on using broader online data (37% positive, 28% negative).

Conducted by ARC Rynek i Opinia (March 2024), the study surveyed 2,059 Poles aged 18–65.

A Pracuj.pl survey reveals that 31% of Polish workers used AI for CV creation, and 61% appreciated AI-driven job recommendations based on professional experience. However, only 24% support AI autonomously selecting candidates, while 41% express concerns about such decisions, favoring human oversight...

04/12/2024

Do you want to be hired by AI?

A recent Pracuj.pl survey shows how AI is reshaping recruitment in Poland:

📄 31% of workers have used AI to create CVs.

💼 61% appreciate AI-driven job recommendations tailored to their experience.

🧐 However, only 24% support AI autonomously selecting candidates, with 41% expressing concerns and preferring human oversight.

🔍 Key Trends:

38% support AI-recommended candidates, but recruiters should make the final call.

Automated job-matching is especially popular among women (67% vs. 55% of men).

57% value auto-filled CVs using recruitment portal data, but opinions are divided on using broader online data (37% positive, 28% negative).
Conducted by ARC Rynek i Opinia (March 2024), the study surveyed 2,059 Poles aged 18–65.

A Pracuj.pl survey reveals that 31% of Polish workers used AI for CV creation, and 61% appreciated AI-driven job recommendations based on professional experience. However, only 24% support AI autonomously selecting candidates, while 41% express concerns about such decisions, favoring human oversight...