VIP lunch with the President of Poland: “Can CEE countries become the next global technology hub?” (by invitation only)
- What makes a successful tech hub? What are the key missing links in case of CEE countries?
- Do CEE countries effectively attract global tech companies?
- How can CEE countries join forces to develop the technology hub on a global scale?
- Following the leaders. What are the lessons from those who succeeded?
Official opening of the Polish House by the President of the Republic of Poland and Polish Night
Venue: Polish House
High-Level debate: “Growing Europe: The Economic Vitality of Central and Eastern Europe”
President of Poland
Andrzej Sebastian Duda serves as the sixth President of Poland. He has held office since 6 August 2015.
Previously, from 2006 to 2007, Duda was a Deputy Minister of Justice, and from 2008 to 2010, he served as an Undersecretary of State in the Chancellery of President Lech Kaczyński. He became a member of the Sejm, the lower house of Parliament, after the 2011 parliamentary elections, when he received 79,981 votes for the Kraków area as a candidate of the Law and Justice party. In September 2013, the news weekly magazine “Polityka” commended him for being one of the most active MPs at the time, describing him as being open to opposition arguments and refraining from personal attacks, as part of his role at the Commission for Constitutional Responsibility. He remained a member of the Sejm until he was elected to the European Parliament in 2014.
Duda ran in the May 2015 presidential election as the candidate for the Law and Justice party. In the first round of voting, he received 5,179,092 votes or 34.76% of the total. In the second round, he received 51.55% of the vote, beating the incumbent president Bronisław Komorowski, who received 48.45%. On 26 May 2015, Duda, as president-elect, resigned his party membership.
President Duda holds a doctorate degree in Law. Before entering politics, he was a lecturer in administrative proceeding and later administrative law at the Jagiellonian University.
President of Croatia
Kolinda Grabar-Kitarović was elected President of the Republic of Croatia on 11 January 2015.
She began her career in 1992 in the Ministry of Science and Technology and in 1993 moved on to the Ministry of Foreign Affairs, where she held various positions, including from 1995 Head of Department for North America, and from 1997 Counsellor in the Croatian Embassy in Canada, rising to Minister-Counsellor and Deputy Chief of Mission.
From 2001 to 2003, Ms Grabar-Kitarović was Minister Counsellor in the Ministry of Foreign Affairs and in November 2003 was elected Member of Parliament in the 7th electoral district. The same year, she was sworn in as Minister of European Integration, and in 2005 as Minister of Foreign Affairs and European Integration, an office she held until 2008. The major objective of her term was to lead Croatia on its path to Euro-Atlantic integration, and she was Head of the State Delegation for Negotiations on the Accession of the Republic of Croatia to the European Union. In 2008, Ms Grabar-Kitarović became Ambassador of the Republic of Croatia to the United States of America.
In 2011, she was appointed NATO Assistant Secretary-General for Public Diplomacy, a position she held until 2014 -- the first female Assistant Secretary-General in the history of NATO and the highest ranking woman in NATO.
In 2019, President Grabar-Kitarović became the Chair of the Council of Women World Leaders, a network of 75 current and former Presidents and Prime Ministers. It is the only organisation in the world dedicated to women heads of state and government. She also received the 2019 Fulbright Lifetime Achievement Award.
She has a degree in English and Spanish from the University of Zagreb, and completed further education in Portuguese. She completed the Diplomatic Academy in Vienna and obtained a Master’s degree in International Relations from the University of Zagreb. She was a Fulbright scholar on pre-doctoral research in international relations and security policy at the George Washington University, US, and was awarded the President’s Medal for scientific, social and political work. She was also a Lukšić Fellow in the Senior Managers in Government Executive Program at the John F. Kennedy School of Government at Harvard.
President of Latvia
The President of Latvia, Egils Levits, is a Latvian lawyer and political scientist. He actively participated in the restoration of Latvia in 1989-1991. He was a Member of the Council of the Latvian People’s Front and the Congress of Citizens, and is one of the authors of the concept of the Declaration on the Restoration of Independence of Latvia issued on 4 May 1990. Mr Levits was the first Minister of Justice after full restoration of the Constitution, the first Ambassador of Latvia to Germany after restoration of the country, the first Latvian judge at the European Court of Human Rights (1995-2004), and the first Latvian judge at the European Court of Justice. He has co-authored many significant draft laws (including the Law on the Constitutional Court of Latvia, the Administrative Procedure Law, and the Law on the Structure of the Cabinet of Ministers). He is also the author of the Preamble or Introduction to the Constitution adopted in 2014.
Mr Levits is the author of many scientific publications on issues regarding state law, administrative law, human rights, and democracy. He has provided many opinions on various legal and political and legal issues to the Latvian Parliament (Saeima), the Cabinet of Ministers, various ministries, the Constitutional Court, other courts, public authorities, the institutions of the European Union, and international institutions. He publishes regularly on development challenges in Latvia. Mr Levits has been the Ambassador of Latvia to Germany, Austria, Hungary, and Switzerland, as well as Deputy Prime Minister, Minister of Justice, and Member of Parliament. He has chaired the Commission of the Constitutional Law of the President of Latvia (2007- 2013).
He has degrees from the Faculty of Law and the Faculty of Philosophy and Public Science of the University of Hamburg.
Prime Minister of the Republic of Estonia
Jüri Ratas, who is a member of the Estonian Centre Party, leads the Government of the Republic of Estonia in his second term of office, as of 29 April 2019.
Mr Ratas became a member of the Estonian Centre Party in 2000 and has served as Chairman of the party since 2016. He first served as Prime Minister in 2016-2019. Before that, in 2007–2016, he was a member of the XI, XII, and XIII Riigikogu (Estonian parliament) and served as Vice-President of the Riigikogu. In 2005–2007, he was the Mayor of Tallinn, and in 2003–2004 and 2005, he was the Deputy Mayor of Tallinn. In 2002–2003, he was the Economic Adviser to the Tallinn City Office. In 1999–2002, he was Chairman of the Board of OÜ Värvilised (car maintenance).
He graduated from the Tallinn University of Technology in Business Management and obtained his Master’s degree in Economic Sciences from the same university. He also obtained a Bachelor’s degree in Law from the University of Tartu School of Law.
Ambassador of the United States of America to the Republic of Poland
Georgette Mosbacher, an American business executive, entrepreneur and author, arrived in Poland in August 2018. She has taken an active role in international affairs in both the private and public spheres for decades, leading two international companies and opening up foreign markets for each, particularly in Europe and Asia. Ms Mosbacher has served as President of Georgette Mosbacher Enterprises, Inc, a business and marketing consulting company, and as CEO of Borghese Inc, a cosmetics manufacturer, both based in New York City. She also served as a Member of the United States Advisory Commission on Public Diplomacy, having been confirmed by the US Senate to that role in 2016. Her leadership, international business and economic acumen, success in negotiating within an intercultural context, and management expertise make her well qualified to serve as the US Ambassador to the Republic of Poland.
An active philanthropist, Ms Mosbacher founded the New York Center for Children, which assists abused children and their families in New York City, and has served on the boards of numerous charities supporting veterans and their families. She was also a fellow at the Foreign Policy Association, and served as a board member for the Business Executives for National Security and the Atlantic Council. Engaged in politics, she previously served as a co-chair of the Republican National Committee’s Finance Committee, and was the first woman to serve as the General Chairman of the Republican Governors Association. Ms Mosbacher authored two motivational books for women as well as numerous op-eds published in the national news media. She earned a BS from Indiana University and is the recipient of many awards recognising her humanitarian and entrepreneurial contributions, including two Honorary Doctorates.
Executive Vice President Goldman Sachs
John F.W. Rogers is an Executive Vice President and Secretary to the Board of Directors of Goldman Sachs Group, as well as a member of the firm’s Management Committee. He joined the firm in 1994 in the Fixed Income Division and has served in various positions since then. He is also Chairman of the Goldman Sachs Foundation, the firm’s donor advised fund. Prior to joining Goldman Sachs, John was a senior fellow at the Baker Institute at Rice University and spent a number of years in government service as an Under Secretary at the US Department of State, Assistant Secretary at the US Treasury, and Assistant to the President at the White House, a recipient of the Presidential Citizen Medal in 1985. John serves as a life trustee and treasurer of the Ronald Reagan Presidential Foundation, Vice Chairman of the Board of the White House Historical Association, Vice Chairman of the Board of the American Academy in Rome, Chairman of the Board of the Atlantic Council and Chairman emeritus of the Board of the National Museum of American History at the Smithsonian Institution. He is also a member and past chairman of the Securities Industry and Financial Markets Association.
Vice President, Government Affairs and Public Policy Google
Karan Bhatia is the Head of Global Policy and Government Relations at Google, where he advises Google’s leadership on policy issues and leads Google’s work with policy makers, government officials, and key political stakeholders in the US and around the world. Before joining Google in 2018, Mr Bhatia served as President of GE’s Government Affairs & Policy function, where he oversaw a team of more than 100 government affairs professionals in 35 countries. He also served in senior positions in the US Government, including at the Departments of Commerce and Transportation, shaping US international economic policy. His last role was as Deputy US Trade Representative, overseeing US international trade policy with respect to Asia and Africa. Prior to his government service, he was a partner in the Washington, DC law firm Wilmer, Cutler & Pickering, where he was a member of the firm’s international and corporate groups. Mr Bhatia has written and spoken widely on international economic policy, taught at Georgetown University Law Center, and testified on many occasions before Congress. He is a member of the World Economic Forum’s Global Future Council on International Trade & Investment, and sits on the boards of a number of nonprofit and trade associations focused on international economic policy. He holds a Bachelor’s degree from Princeton, a Master’s from the London School of Economics, and a Law degree from Columbia.
Co-CEO Bridgewater Associates
David McCormick is Co-CEO of Bridgewater Associates, responsible for overseeing the firm’s strategy, governance and business operations in partnership with Co-CEO Eileen Murray. David joined Bridgewater in 2009 and previously served as the firm’s President, before becoming Co-CEO in 2016. Before joining Bridgewater, David was the US Treasury Under Secretary for International Affairs in the George W. Bush Administration during the global financial crisis. Prior to that, he served in senior posts on the National Security Council and in the Department of Commerce. From 1999 to 2005, David was a technology entrepreneur, serving as CEO, and then President, of two publicly-traded software companies, FreeMarkets Inc and Ariba Inc. Earlier in his career David was a consultant at McKinsey & Company. He is a graduate of the United States Military Academy at West Point and has a PhD from the Woodrow Wilson School of Public and International Affairs at Princeton University. He is a former Army officer and a veteran of the First Gulf War. David serves as a Trustee on several boards including the United Service Organizations (USO) and The Hospital for Special Surgery (HSS). He also serves as the Chairman of the Atlantic Council’s International Advisory Board.
As CEO of PZU SA, Poland’s biggest insurance company with operations in five countries, Paweł Surówka heads Central and Eastern Europe’s biggest financial group. He is also Chairman of Pekao SA, Poland’s second biggest bank. Under Paweł’s leadership, PZU has engaged in an ambitious new digital strategy which aims to transform one of Poland’s oldest and most established companies. Before joining PZU in 2016, he was head of corporate and investment banking in Germany of PKO Bank Polski, Poland’s biggest bank, in which capacity he set up PKO’s Frankfurt branch, the first Polish corporate bank outside of Poland. Paweł started his career with Bank of America Merrill Lynch in Paris where he was responsible for the biggest private and institutional clients from CEE. Although most of his career has been linked to financial services, he spent two years in the automotive industry, after his former client, the Boryszew Group, one of Poland’s biggest publicly listed industrial groups, asked him to supervise the restructuring of its German automotive division as a Member of the Management Board. Paweł is a CFA Charterholder and holds a Master in Advanced Studies degree from Ecole des Hautes Etudes Sociales (Paris), a Master’s from the Sorbonne Pantheon Paris I University, and a BA in Philosophy from Hochschule fur Philosophie in Munich. He has been named a Young Global Leader by the World Economic Forum. In 2019, Harvard Business Review ranked him as one of the most effective managers of a publicly listed company in Poland.
President and CEO Bank Pekao
Marek Lusztyn has been the President and CEO of Bank Pekao since November 2019. He is a seasoned executive with more than two decades of experience in the international banking sector. Presently, he leads a team of about 16,000 employees committed to create sustainable value for customers and shareholders. Before assuming the role of Pekao Chief Risk Officer in 2017, Marek gained extensive experience within international structures of UniCredit Group, at the time Pekao’s parent organisation. He held senior executive positions in London, Munich and Milan, where he was responsible for global market and traded credit risk management, spanning all the countries of operations for UniCredit Group. His international career at Unicredit was preceded by numerous roles in risk management at Bank Pekao and front-office trading roles at Bank Handlowy. Mark is also a member of the Board of Trustees of the Warsaw School of Economics, a leading business university in Poland. In 2014, he was named a Future Leader in Global Finance by the Institute of International Finance, Washington DC. Marek graduated with a PhD in Economics from Warsaw School of Economics and is also an alumnus of University of Illinois (Executive MBA) and INSEAD Business School. He also completed an executive program at the Singularity University, Silicon Valley, in the area of innovation and new technologies. He has been a lecturer in the field of banking and finance and authored several academic publications on banking. As an ultra-marathoner and technical diver, he’s not shy of seemingly impossible challenges.
President and CEO Atlantic Council
Fred Kempe is the President and Chief Executive Officer of the Atlantic Council. Under his leadership since 2007, the Council has achieved historic, industry-leading growth in size and influence, expanding its work through regional centres spanning the globe and through centres focused on topics ranging from international security and energy to global trade and next generation leadership. Before joining the Council, Mr Kempe was a prize-winning editor and reporter at the Wall Street Journal for more than 25 years. In New York, he served as Assistant Managing Editor, International, and columnist. Prior to that, he was the longest-serving Editor and Associate Publisher ever of the Wall Street Journal Europe, running the global Wall Street Journal's editorial operations in Europe and the Middle East. He is the author of four books. The most recent, Berlin 1961: Kennedy, Khrushchev, and the Most Dangerous Place on Earth, was a New York Times and national bestseller. Kempe is a graduate of the University of Utah and has a Master's degree from Columbia University's Graduate School of Journalism, where he was a member of the International Fellows programme in the School of International Affairs.
Central and Eastern Europe (CEE) includes over 100 million people in 11 EU countries with a combined GDP of €1,2 trillion. In 2018, CEE’s GDP accounted for almost 20% of economic growth of the European Union. CEE’s tech sector is growing rapidly and the ecosystem is blossoming. Currently there are around 30,000 startups (including 12 unicorns with a combined value of €30 billion).
CEE’s democracies are members of NATO, the Council of Europe, the World Trade Organization, the International Monetary Fund and the World Bank. Seven countries from the region ranked in the top ten fastest growing economies in the European Union. Indeed, CEE offers investors a unique combination of stability and security offered by these institutions with returns that match those of the developing world.
The region’s political and business leadership is determined to drive this growth well into the next decade and beyond.
Their Presidents and Governments launched the Three Seas Initiative to accelerate the development of cross-border energy, transport and digital infrastructure - an undertaking that promises to enhance economic growth and resilience and deepen ties within the region and across Europe. A Business Council representing the leading commercial entities of CEE will be announced at Davos and will better enable these countries to leverage the mass of their combined markets. A new regional CEE+ Index, newly created by the Warsaw Stock Exchange underscores the unity, vibrancy and growth of this region.
The Growing Europe panel discuss the regional economic dynamics, governmental initiatives, and commercial undertakings whose confluence promises to sustain, if not increase, the positive growth momentum of Central and Eastern Europe.
Announcement of the Business Council of Growing Europe
Announcement of the Business Council of Growing Europe
Announcement of the Business Council of Growing Europe, composed of CEO’s of the biggest companies in the region.
Business Council of Growing Europe will actively promote Central and Eastern Europe as interesting investment theme worldwide as well as support its members interests through global networks in business and politics. It attempts to provide a platform for international investors to discuss and identify common interests and exchange information regarding their economic activities in the CEE region. Business Council of Growing Europe will better enable companies and countries to leverage the mass of their combined markets.
The Council will be a vital part of Growing Europe, PZU initiative which seeks to recognize and promote Central and Eastern Europe as the world’s fastest growing developed market and one that is also its most stable emerging market. By promoting business cooperation among leaders from across CEE the Growing Europe initiative also aims to further the region’s democratic and economic development. In the current environment of very low yields and limited investment opportunities globally, it is very important that the promising investment story of the region is told to the world and is supported by regional initiatives
Debate: “Collaboration Among Banks and with Government Benefiting Economic Growth”
Debate: Collaboration Among Banks and with Government Benefiting Economic Growth
Speakers: Minister of Finance Tadeusz Kościński, Professor Nouriel Roubini
László Bencsik – Chief Strategic and Financial Officer, OTP Bank
Charlotte Hogg, CEO, Visa Europe
Gilberto Caldart, President, International Markets, Mastercard,
Marek Lusztyn, Bank Pekao CEO
Moderator: Anna Celner - Global Banking and Capital Markets Leader, Deloitte
Presentation of key trends and themes: Grzegorz Cimochowski - CE FSI Leader, Deloitte
Collaboration among banks and with government is on the rise thanks to digitalization and European integration. Many key barriers to growth and industry challenges are best addressed through collaboration. By partnering with banks, governments can more effectively deliver financial support (e.g. loan guarantees for SMEs), achieve policy objectives (e.g. shift to non-cash payments), and provide e-services (e.g. digitalized signatures and administration). Collaborative projects among banks are helping the industry better address risk (e.g. credit bureaus), operational efficiency (e.g. shared infrastructure), and regulatory compliance (e.g. common API standards). These many examples of collaborative projects have in common a resulting improvement in competitiveness and overall business climate. This demonstrates that rising collaboration improves conditions for economic growth. While regulation is helping ensure collaboration in some common essential areas (e.g. deposit insurance fund), countries’ best practices in commercial partnerships and incentive models should be promoted to increase adoption. How to elevate collaboration in Europe to next level for the benefit of citizens and businesses? What are key accelerators and roadblocks on that path? What should be the role of different stakeholders?
Debate: CEE Unicorns at the forefront of the European tech
Debate: CEE Unicorns at the forefront of the European tech
Paul Bragiel - Co-Founder & Managing Partner, Bragiel Brothers
Peter Irikovsky – CEO, Exponea
Maciej Marszałek, Managing Partner, The Heart
Vargha Moayed – Chief Strategy Officer, UiPath
Roman Pałac- CEO, PZU Życie
Maciej Zużałek - Chairman of the Supervisory Board, Ten Square Games
Grzegorz Zwoliński, CEO, SatRevolution
Moderator: Wiktor Schmidt, Executive Chairman & Co-founder, Netguru
1. Opportunities and strengths of CEE Unicorns - top IPOs, success stories
2. Maintaining investors’ appetite - key reasons why VCs look at CEE start-ups’ potential
3. Growing a Unicorn - how to scale up and maintain excellent business condition
4. Future predictions - emerging stars, trends, upcoming market changes
High-Level debate:“Tax Cooperation: How to Avoid the Race to the Bottom”
High-level debate: Tax Cooperation: How to Avoid the Race to the Bottom
The problem of a reliable taxation system is crucial and should be tackled by combined forces of the international community. Collecting taxes is not only one of the basic tasks of every state. When done effectively, it is also a key element of building trust among the state and market actors by providing them with a level playing field. Thus, it fulfills an essential role in increasing competitiveness which is healthy and based on transparent rules.
The European economy cannot fully spread its wings when losing billions of euros per year. Nowadays the tax loss caused by tax havens is ¼ higher than the EU’s current budget. It means that if we eliminate the loss, we can reinforce the EU’s budget and spend the money on the Green New Deal or fighting against climate change. That could also be a solution to a reduced budget after Brexit.
During this debate, the Polish Economic Institute, a governmental think-tank from Poland, will outline the top leakages in European tax systems in PIT, CIT and VAT. Some of them being fraudulent and some connected with aggressive tax optimisation.
7:00 p.m. – start of the conference
Opening address – Beata Daszyńska-Muzyczka, President of Bank Gospodarstwa Krajowego – Polish Development Bank (5 min.)
Video – Overview of the Polish Economic Institute’s report results – Tax unfairness in the European Union – towards greater solidarity in fighting tax evasion (5 min.)
High-level debate – ’Tax Cooperation: How to Avoid a Race to the Bottom’ (60 min.):
Moderation: Piotr Arak, Director of Polish Economic Institute
José Ángel Gurría, OECD Secretary-General
Bruno Le Maire, Minister of Economy and Finance, France
Mateusz Morawiecki, Prime Minister of Poland
8:10 p.m. – Q&A round with the participants
8:20 p.m. – dinner/cocktail for the conference participants
9:30 p.m. – planned end of the debate
Roundtable discussion: “Lifting Central Europe’s ambitions: How to unleash Europe’s new growth engine?”
Roundtable discussion: “Lifting Central Europe’s ambitions: How to unleash Europe’s new growth engine?
Georgette Mosbacher - Ambassador of the United States of America to the Republic of Poland
Marko Remenar – Member of the Management Board, Adris grupa
Marek Dietl – CEO, Warsaw Stock Exchange
László Bencsik – Chief Strategic and Financial Officer at OTP Bank
Maciej Zużałek - Chairman of the Supervisory Board, Ten Square Games
Wiktor Schmidt - Executive Chairman, Netguru
Marek Lusztyn - CEO, Bank Pekao
Paweł Surówka – CEO, PZU
Moderator: Jurica Novak, Managing Senior Partner for Central Europe, McKinsey & Company
Presentation of key trends and themes: Tomasz Marciniak, Partner, McKinsey & Company
Since the transition to a market economy three decades ago, Central Europe has enjoyed a golden age of growth. The region recorded on average a 114% increase in GDP per capita between 1996 and 2017 compared to an increase of 27% percent in the European Union’s largest economies. At the same time Central Europe has become one of the most attractive places to invest in globally, has significantly narrowed the economic gap to Western Europe, and delivered a step-improvement of local living standards. Today the CE countries together represent €1.4 trillion of GDP, making them equivalent of the 12th-largest global economy. While the current engines of growth are losing momentum, e.g. the labor-cost advantages, basic productivity convergence, EU infrastructure funding; the CE region needs to rethink its future economic growth model. Central European states need to focus on new growth drivers leveraging its natural strengths and tapping into the global trends shifting the world economy. There are several, non-exhaustive options to consider as priorities.
Creating talent-first economies and tapping into the new potential
Accelerating the leading-growth sectors
Developing infrastructure that encourages economic transformation
Digitalization and Artificial Intelligence (AI)
Business leaders should raise their sights and set new ambitions, both for their own organizations and for collaboration across private and public sectors on fundamentally important projects for the future.
High-Level debate: “CEEplus index: Opportunities and benefits for the CEE and Investors”
High-level debate: “CEEplus index: Opportunities and benefits for the CEE and investor” with participation of the Financial Times
Guest of Honor: Andrzej Duda - President of the Republic of Poland
Sheila Patel – Chairman of Goldman Sachs Asset Management
László Bencsik – Chief Strategy Officer, OTP Bank
Marek Dietl – CEO, Warsaw Stock Exchange
Pia Tischhauser, Managing Director & Senior Partner, Boston Consulting Group
Paweł Surówka – CEO, PZU
Uroš Ivanc, Chief Financial Officer of Triglav Group
Moderator: Andrew Jack - Financial Times
Closing remarks: Tadeusz Kościński – Minister of Finance of the Republic of Poland
CEEplus index is a part of the ongoing collaboration among the CEE region’s capital markets. The project ensures that the CEE exchanges speak with a stronger voice across debates concerning EU capital markets.
PZU joins the Warsaw Stock Exchange and other regional exchanges in this unique initiative which demonstrates the activity and aspirations of the Three Seas Initiative economies. CEEplus is a price index and the underlying of a PZU’s passive fund: inPZU Akcje CEEplus.
The panel discussion's objectives are to:
- Examine the rationale behind the creation of a joint index of CEE Exchanges
- Explicate PZU’s decision to support the CEE+ index by creating an investment solution (index fund)
- Explore the advantages that index inclusion brings to companies from the CEE region
- Highlight the economic attractiveness of CEE
- Identify actions needed to promote CEE on the global investment stage
Goal: Promoting Central and Eastern European countries as an investment destination for public and private investors under the theme “Growing Europe”. Launching of a new PZU’s fund inPZU Akcje CEEplus.
Context: CEEplus index has been published by the Warsaw Stock Exchange since September 4, 2019 based on the value of the portfolio of the largest and most liquid companies listed on stock exchanges from the Central and Eastern region - Croatia, the Czech Republic, Poland, Romania, Slovakia, Slovenia and Hungary. The base value of CEEplus index was set at September 3, 2019 at the level of 1,000.00 points. It is a price index and thus when it is calculated it accounts only for prices of underlying shares whereas dividend income is excluded. The weight of individual company in the index portfolio is limited to 10%, while the total share of companies, each of which exceeds 5%, is limited to 40%. The weight of companies from one stock exchange from the region may not exceed 50%.
The launch of a joint exchange index for companies from the CEE is also a major step towards closer regional co-operation, which opens the region not only to rest of Europe but to the entire world.
New inPZU Akcje CEEplus is a passive index fund under the PZU’s innovative and award-winning fund umbrella inPZU that tracks the performance of CEE plus index. The fund will be available for investors on the online distribution platform www.inPZU.pl.
This panel is part of Growing Europe, a PZU initiative which seeks to recognize and promote Central and Eastern Europe (CEE) as the world’s fastest growing developed market and one that is also its most stable emerging market. By promoting business cooperation among leaders from across CEE the Growing Europe initiative also aims to further support the region’s democratic and economic development.