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Increase in the Polish construction industry economic climate

10-26-2010 09:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: PMR Publications

Increase in the Polish construction industry economic climate

Driven by a steadily rising number of investment projects underway and planned, construction companies express slightly more favourable assessments of the economic situation of the market when compared to the findings of a study conducted six months ago. Construction activity is still hampered by numerous market barriers, but more and more companies are capable of identifying factors which have a positive bearing on the market.

The results of a survey of high-level professionals from the management and operating divisions of 200 largest Polish construction companies, which was conducted by research and consulting company PMR for the purposes of report entitled “Construction sector in Poland H2 2010 – Comparative regional analysis and development forecasts for 2010-2013”, are evidence that sentiment in the Polish construction industry has taken a slight turn for the better. In September 2010, PMR Polish Construction Climate Indicator had a value of 7.8 pts, demonstrating that construction companies were more optimistic in their assessment of the market situation than they had been a year ago, despite adverse market circumstances prevailing in the early months of 2010.

Still, the companies which tend to see more negatives than positives in the current situation are more numerous in the market, but it should be noted that number of the former decreased in the past six months. The most frequent obstacles, cited by 41% of responding companies, were problems related to legal regulations and difficulties in dealings with officials. But, notably, in September the respondents were less concerned about the lack of relevant regulations to protect the Polish market against competition from foreign providers of construction services than they were six months ago, while more responses indicated excessive bureaucracy, overly complicated regulations and the lack of understanding of the nature of respondents’ business by legislators and officials.

Strong market competition was the second most frequently cited barrier to doing business, which was mentioned primarily by smaller companies. Further obstacles identified by respondents included underpricing, driven by strong market competition and low prices which contractors were forced by investors to accept. But it should be noted that the significance of this barrier slightly decreased in the recent months. The companies surveyed also mentioned other obstacles to doing business in the construction market. One-tenth of respondents cited considerable labour costs, while 9% of the surveyed companies still found it difficult to access loans. Staff shortages and payment backlogs were mentioned much less frequently as barriers to doing business in the construction market.

PMR Research interviewers also asked construction companies to identify factors considered by them to be the greatest facilitators to doing business in the construction market. Since most respondents did not see any significant factors facilitating market operations, only 51 valuable responses were received to this question.

Factors conducive to doing business in the Polish construction market most frequently cited by respondents were EU subsidies, which, to a significant extent, helped the public sector outweigh the fall in private sector investments (27% of respondents). Next in the order were good business contacts, including in particular lasting and strong relations with principals and subcontractors. Respondents also mentioned a stable legal environment, qualified staff employed by their companies and greater availability of loans.

This press release is based on information contained in the latest PMR report entitled “Construction Sector in Poland H2 2010 – Development Forecasts for 2010-2013”.

PMR (www.pmrcorporate.com) is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern European countries as well as other emerging markets. PMR's key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). Being present on the market since 1995, employing highly skilled staff, offering high international standards in projects and publications, providing one of most frequently visited and top-ranked websites, PMR is one of the largest companies of its type in the region.

PMR Publications ul. Dekerta 24, 30-703 Krakow, Poland tel. /48/ 12 618 90 00, fax /48/ 12 618 90 08 www.pmrpublications.com

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