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Discover Łódź’s economic potential and the role of the Warsaw Stock Exchange in financing local businesses and government projects.
The Łódzkie region is hailed as a land of immense potential, requiring adept financial management. Minister Włodzimierz Tomaszewski, a member of the Council of Ministers for Local Government Affairs, emphasized that Łódź owes its existence to capital influx and investment, drawing countless individuals eager to work. He spoke at the “Łódzkie – Region of the Future” conference, where government representatives, Warsaw Stock Exchange officials, and business leaders gathered to discuss the city’s economic prospects and funding sources.
Unlocking Financial Potential:
Marek Dietl, President of the Warsaw Stock Exchange, underscored Łódź as a rich source of potential issuers, highlighting the exchange’s role in business financing. He emphasized the benefits of companies going public and listing financial instruments.
Community Engagement:
Minister Tomaszewski advocated for citizen-driven financing, stressing the importance of involving local communities in funding local governments. He emphasized the need for a blend of budgetary sources, including EU funds, local revenues, and loans, to address investment challenges.
GPW’s Role in Economic Education:
Adam Młodkowski, a GPW board member, emphasized the exchange’s role in economic education and creating an environment conducive to small businesses and startups. He cited IT as a promising sector in Łódź.
Navigating Market Challenges:
Młodkowski acknowledged the challenges in today’s market but urged businesses to consider going public, even during economic downturns. Proper preparation is key.
The Benefits of Listing:
Piotr Burwicz, VP of Rainbow Tours, highlighted the benefits of being listed on GPW, including enhanced corporate image and improved relationships with stakeholders. He noted that transparency and predictable results were crucial in dealings with financial institutions.
Local Governments’ Financial Landscape:
Data presented by GPW revealed that as of 2022, local governments had a total debt of 90.8 billion PLN, with 27% in bonds, 50% in domestic loans, and 23% in foreign loans. Obligations were primarily used for deficit financing, sports and road investments, infrastructure, and EU co-financing.
Łódź is a region with vast potential, and its financial future hinges on strategic investments and community involvement. The Warsaw Stock Exchange plays a pivotal role in fostering economic growth, and the region’s entrepreneurial spirit, especially in the IT sector, holds promise for the future.