Prime Minister Beata Szydło: Prosperity of enterprises should translate into better lives of Poles

The good condition of the State Treasury companies shows that good and smart management can achieve a lot, said the Prime Minister at the meeting dedicated to increasing the effectiveness of management of the state property.

Photo: P. Tracz/Chancellery of the Prime Minister

The participants of the discussion included also Deputy Prime Minister Mateusz Morawiecki, Minister Henryk Kowalczyk, Minister Krzysztof Tchórzewski, Minister Elżbieta Witek, Deputy Minister Maciej Małecki and representatives of the State Treasury companies.

Positive effects of changes in the State Treasury companies

The Prime Minister reminded that her government had changed the method of management of the  State Treasury companies. The Prime Minister coordinates the ownership policy, in particular with respect to the largest entities with the State ownership share. In addition, the companies are supervised by ministers in charge of appropriate sectors. The Ministry of State Treasury was liquidated. I am glad that at this very difficult moment of changes and reforms of the State Treasury companies we have managed not only to efficiently execute the process, also in institutional terms, but to generate impressive financial results as well, emphasized the Prime Minister. Currently, subsequent improvements to the functioning of those enterprises are implemented.

Increasingly better condition of companies

The coherent economic policy of the government is to lead to faster development of the country and its increasingly better effects, declared the Prime Minister. According to her, the most important goal is to translate the prosperity of enterprises into the life of households in Poland and into a better economic situation for Poles.

The Prime Minister reminded that the main areas of development of the Polish economy had been defined in the Responsible Development Plan. We must build fast economic growth of Poland on those pillars and foundations, she said.

Prime Minister Beata Szydło reminded that when the previous government was in power, such enterprises as LOT or mining companies had been in bad financial condition, while now they generated growth. The Prime Minister emphasized that a new era for the companies had begun, i.e. investments in new solutions. Our ambition is to invest in modern technologies to build a competitive economy, said the Prime Minister.

The Prime Minister congratulated the State Treasury companies on their recent financial results. You have something to boast about! she admitted. I think that the good condition of the State Treasury companies shows that good and smart management can achieve a lot, said the Prime Minister

Better management of enterprises and investment incentives

Minister Henryk Kowalczyk stated that the State Treasury companies were developing systematically. The mission of the State Treasury companies is to build the Polish economy as a whole and contribute to implementation of the Responsible Development Strategy, he emphasized. The minister pointed out that very good financial results of the companies were i.a. due to savings on operational costs.

Minister of Economic Development and Finance Mateusz Morawiecki reminded that the Polish zloty was the currency that had strengthened the most in the world this year. He said that the companies should first evaluate their investment opportunities and begin to develop. Another step should be cooperation with small and medium-sized companies, which is often stressed by entrepreneurs. The Minister of Economic Development and Finance also encouraged to increase international expansion. Exports is a driver of Poland’s economic growth, he stressed. In addition, the Deputy Prime Minister stated that the government introduced changes to the system of support for Polish exporters in the form of economic diplomacy and declared that subsequent support measures would be initiated.

Minister Krzysztof Tchórzewski discussed investment opportunities of companies from the mining, fuel and energy sectors. He said that the companies he supervised generated increasingly good economic results.

Good quotations of the State Treasury companies

The above-average results generated by the State Treasury companies and the management strategy aimed at successive building of the value of the Polish capital translated into prices on the Warsaw Stock Exchange and an increase in investor confidence. WIG20 has increased significantly since the beginning of 2017. An additional factor contributing to such excellent results of enterprises with the State Treasury share is the condition of the Polish economy which has been surprising the analysts with positive developments since the beginning of the year. International financial institutions and rating agencies also have noticed the growth, increasing their forecasts for further economic growth in Poland.

See also