Poland to introduce stricter rules on organic food

(Maria Bninska, Public domain)

Bulgaria: automotive industry expected to generate 5 per cent of GDP

The Czech Republic: BMW expects to get EUR18.8m as an investment incentive

Poland

The Polish Radio reports, after the Dziennik daily, that as of 2021 Poland will apply more stringent rules on organic food to ensure higher quality and to boost production, in line with a reform in the EU’s organic agricultural system. The new EU regulations still require a formal approval from the Council of EU ministers. Proposed regulations require that food imports from non-EU countries follow EU standards.

The changes also introduce strict on-site checks for farmers, breeders, food processing plants, retailers and importers held at least once a year. The checks will take place once every two years if no fraud has been detected over three consecutive years.

“Fewer checks mean lower costs for the producers of certified organic food,” said Bartosz Pytlak from the Agriculture Ministry. “They’re the ones who cover the costs [of the checks],” he added.

Experts cited by the Dziennik daily said the changes may have a positive impact on the Polish organic food market, which is currently worth PLN900 m (EUR213m) and grows 20 per cent annually.

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Bulgaria

Although no passenger cars are currently manufactured in Bulgaria, the industry experts claim that the automotive industry expects new foreign investments, having five or six possibilities to attract car manufacturers. Automotive Cluster Bulgaria, a non-profit organisation that represents the interests of manufacturers, suppliers and entities providing services for the industry, claims the automotive industry could generate 5 per cent of the gross domestic product (GDP) in 2018.

SEE News Corporate Wire quotes Lyubomir Stanislavov, the CEO of the Automotive Cluster Bulgaria. Mr Stanislavov explains that the organisation cooperates with Bulgarian government to make the country interesting for the foreign investors. For e.g. projects for new industrial zones are being developed. “The industrial zones are designed to satisfy the needs of all types of car companies, including Original Equipment Manufacturers (OEMs)” – Mr Stanislavov informs.

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Czech Republic

Radio Praha reports that the German carmaker BMW wants to invest CZK6.35bn (EUR250m) into developing the test centre for electric and self-driving cars in Sokolov (Karlovy Vary region). The company wants Czech government to offer an investment incentive. As reported, BMW asked for CZK480m (EUR18.8m). It is said that the government will discuss it and expect to sign a memorandum on strategic cooperation with BMW that envisions granting the company a building permit in Q4’19.

As reported “the test centre, featuring both track and technical equipment on a total area of around 525 hectares, will provide hundreds of new jobs”. It’s opening is scheduled 2022.

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What’s up in indexes

BET (of Bucharest) increased from 9,003.82 index points Tuesday, April 24th to 9,007.93 index points Wednesday, April 25th. It’s up 0.03 per cent d/d and up 9.05 per cent y/y.

BUX (of Budapest) increased from 37,892.90 index points Tuesday, April 24th to 38,049.97 index points Wednesday, April 25th. It’s up 0.41 per cent d/d and up 13.52 per cent y/y.

CROBEX (of Zagreb) decreased from 1,788.71 index points Tuesday, April 24th to 1,785.79 index points Wednesday, April 25th. It’s down 0.16 per cent d/d and down 5.80 per cent y/y.

OMXR (of Riga) increased from 1,046.10 index points Tuesday, April 24th to 1,047.34 index points Wednesday, April 25th. It’s up 0.12 per cent d/d and up 28.54 per cent y/y.

OMXT (of Tallinn) increased from 1,254.84 index points Tuesday, April 24th to 1,261.50 index points Wednesday, April 25th. It’s up 0.53 per cent d/d and up 13.51 per cent y/y.

OMXV (of Vilnius) decreased from 703.79 index points Tuesday, April 24th to 699.97 index points Wednesday, April 25th. It’s down 0.54 per cent d/d and up 20.49 per cent y/y.

PX (of Prague) decreased from 1,127.53 index points Tuesday, April 24th to 1,121.67 index points Wednesday, April 25th. It’s down 0.52 per cent d/d and up 12.96 per cent y/y.

SAX (of Bratislava) decreased from 335.41 index points Tuesday, April 24th to 332.74 index points Wednesday, April 25th. It’s down 0.80 per cent d/d and up 6.32 per cent y/y.

SOFIX (of Sofia) increased from 659.10 index points Tuesday, April 24th to 663.11 index points Wednesday, April 25th. It’s up 0.61 per cent d/d and up 1.43 per cent y/y.

UX (of Kyiv) decreased from 1,812.26 index points Tuesday, April 24th to 1,811.48 index points Wednesday, April 25th. It’s down 0.04 per cent d/d and up 77.61 per cent y/y.

WIG20 (of Warsaw) decreased from 2,269.06 index points Tuesday, April 24th to 2,257.00 index points Wednesday, April 25th. It’s down 0.53 per cent d/d and down 4.09 per cent y/y.

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