Good ratings for the capital market in Poland. But it could be even better
KGHM's CEO, Remigiusz Paszkiewicz, discusses the strengths of Poland's capital market while stressing the need for regulatory improvements to enhance economic performance.
Remigiusz Paszkiewicz, the CEO of KGHM, highlighted the solid structure of Poland's capital market, noting that it serves as a front for the underlying economic entities like public companies that must comply with various regulations. He emphasized the importance of discussing whether these regulations are excessive or reasonable, pointing out specific areas such as the tax system and environmental regulations affecting energy distribution and resource acquisition.
Paszkiewicz particularly mentioned the complexities introduced by Poland's unique mineral tax, which impacts KGHM. In a previous agreement with the Polish government, the company secured a tax reduction with the stipulation that any financial benefits be reinvested into development initiatives. He referenced this arrangement as a positive step towards promoting growth within the sector.
The CEO also indicated that Poland's market performance is not only influenced by local factors but is also tied to global economic conditions. With the call for improved regulatory frameworks, Paszkiewicz stresses that an engaged and active ownership is vital for unlocking the full potential of capital markets in Poland, ensuring that they can respond effectively to both domestic and international challenges.