AmCham.Pl QUARTERLY The o!cial magazine of the American Chamber of Commerce in Poland SUMMER!2018 VOL!I, No. 1 COVER!STORIES AMCHAM!SEEKS!ANSWERS!TO!QUESTIONS!ON!HOW!TO!MAKE!POLAND’S! ECONOMIC BOOM!SUSTAINABLE, p. 12 DESPITE!POLITICAL!CONTROVERSIES!POLAND!CONTINUES!TO!BE!A!GOOD!COUNTRY TO!INVEST!IN, p. 16 MONTHLY!MEETINGS AMBASSADOR PAUL W. JONES ON US"POLAND BILATERAL RELATIONS, p. 22 FOREIGN MINISTER JACEK CZAPUTOWICZ ON POLAND’S ROLE IN THE EU AND THE CEE REGION, p. 24 COMPANY!PROFILES EXPERTS PwC on the Employee Capital Plans; Avis Polska Squire Patton Boggs on the split payment; Wardy#ski & Partners on the legal aspects of arti$icial Dow Poland intelligence; KPMG on the threat of cyber attacks; Forever Living Products DLA Piper on concluding internal investigations; Pegasystems Wierzbowski Eversheds Sutherland on how EU laws are implemented in Poland; JF Legal on new changes to the regulation on statutory preemption rights; %aszczuk and Partners on new regulations p. 26 supporting small business; Deloitte on the circular economy p. 34 PLUS!OVER!100 PICTURES!FROM!AMCHAM!EVENTS, p. 45 AMCHAM.PL QUARTERLY Vol. I, No. 1, Q3 2018 It’s your AmCham... p. 26 p. 39 p.37 p. 50 p. 48 p. 49 p. 15 p. 17 p. 19 p. 20 p. 51 It’s your debate... We do worry about the deteriorating relationship The 2008 crisis was 10 years ago, and today the between the US and the EU because, as a part of world is a different place and this is why, in the the EU, we have been always supporting long!term the Polish economy will be much safer transatlantic relations. being in the eurozone. JACEK CZAPUTOWICZ, FOREIGN AFFAIRS MINISTER, MICHA! H. MRO"EK, CHAIRMAN OF THE BOARD OF DIRECTORS, P. 24 HSBC BANK POLAND P. 12 Foreign investors who have been in Poland for While Poland is a good country to invest in, there years are very happy. Now the question is how to attract new investors to the country. are some challenges.There are a few categories of JACEK CZERNIAK, GLOBAL SUBSIDIARIES GROUP HEAD, those issues, such as laws and regulations that CITI HANDLOWY were not consulted with the business community, P. 16 and surprised investors as they changed the busi! It is not excluded that the rotational presence of US ness environment and predictability. troops in Poland will shift to becoming permanently US AMBASSADOR PAUL W. JONES present. The Polish government has rolled out a P. 13 campaign to achieve that. There is a long road AmCham.pl Quarterly is the o!cial publication of the American Chamber of Commerce ahead but the prospects to achieve that are good. in Poland. It is a voice for foreign investors and the business community in Poland. The magazine strives to keep our members and other readers up to date by following IAN BRZEZINSKI, FOREIGN POLICY AND MILITARY AFFAIRS EXPERT chamber news and reporting on the leading trends in business and policy. P. 16. 1 AMCHAM.PL QUARTERLY Vol. I, No. 1 YOUR AMCHAM Board of AmCham Directors Staff DOROTADBROWSKA TONY HOUSH JOANNABENSZ WINTERSCHEID Chair ViceChair Managing Director Director Poland, Advisor to the Board, Central Europe & Geopolitical Intelligence MARZENADRELA Baltic Region Services Deputy Director Northrop Grumman BARBARAPOCIALIK ROBERTBEDNARSKI RICHARD M. Membership & Committee Vice Chair LADA Manager Country Director of Secretary Facebook in Central Individual Member Eastern Europe (CEE) ANITA KOWALSKA Events & Media Manager JOHN LYNCH JOLANTA MARTAPAWLAK Treasurer JAWORSKA Legal Counsel Founder and CEO, Member Lynka Governmental Programs UKASZDOMINIAK Director, IBM Poland & Public Policy Assistant Baltics ROBERTKRUSZYNA MAGDALENA PAVLAK MARCIN CHIARADIA PETRYKOWSKI Oce Manager Member Member Managing Director, Partner ERM Managing Director, ZOSIAHECHT Polska S&P Global Ratings Project Assistant TOMASZWIOK ROMANREWALD SAWOMIRS. AmCham.pl Quarterly Editor Member SIKORA Partner, Member JACEKDRABIK Weil, Gotshal & Manges Chief Executive Ocer Bank Handlowy S.A. Kraków & Katowice AmCham Director MAREKSZYDOWSKI JOSEPH WANCER ANNACHARUBA Member Member, President of the Kraków & Katowice Director of Legal Division, TVN Group, Management Board, Branch Manager Member of the Management Board Bank BG BNP Paribas TVN S.A. MONIKA CIESIELSKAMRÓZ Wrocaw Branch Director AmCham JOANNA BOJARSKABUCHCIC Auditor Gdaska Branch Director 2 Q3 2018 In this issue SUMMER 2018 VOL. I, NO. 1 COVER!STORY 1 Experts GOING!YOUR!OWN!WAY LEADING THE DEBATE Starting your own business will now pay o%..................................................... p. 34 AmCham starts a dialogue on how to make Poland's impressive economic growth sustainable................................................................................................................p. 12 A NEW!CONTRIBUTION Employee Capital Pension Scheme will e%ect your business........................... p. 36 THE!SPLIT PAYMENT!DILEMMA A new mechanism for paying invoices affects financing and factoring transactions................................................................................................p. 37 THE!SPLIT PAYMENT!DILEMMA COVER!STORY!2 Legal personality and artificial intelligence.................................................p. 38 BETTER SAFE THAN SORRY BEWARE!OF DARKNESS No organization is safe from cyber attacks..................................................p. 39 Political controversies must not bling American investors to the potential A LONG AND WINDING ROAD of investing in Poland...............................................................................................p. 16 Implementation of EU law in Poland: Examples in the financial sector.......p. 40 SUE!YOU, SUE!ME, PART 2 There are many different parties that can bring claims against companies abusing their market position.......................................................................p. 41 THE!ART!OF!GOING!BY!THE!BOOK Monthly Meeting Conducting an effective internal investigation............................................p. 42 WORKING IN CIRCLES MAY There is a solution to the world’s resource depletion..................................p. 43 LET'S WORK TOGETHER NEW!LIQUID DILEMMAS Poland and the US can do more business together................................................p. 22 New provisions governing the conditions under which the Treasury has the right to buy property before anybody else...........................................................p. 44. JUNE BALANCING INTERESTS Poland and the US meet in many political areas.....................................................p. 24 Deparments IT’S!YOUR!AMCHAM, IT’S!YOUR!DEBATE The issue content highlights.......................................................................... p. 1 YOUR!AMCHAM Company Pro"ile Who is who at the AmCham Board of Directors and the AmCham Staff.......p 2 AMCHAM!ADVOCACY KEEPING!AHEAD!OF THE COMPETITION Update on the organizations' advocacy work................................................p. 4 Jan Ma#olepszy, Vice President, Engineering, and Jaros#aw Ma$lanka, Director of Business Operations at Polish Branch of Pegasystems talk about how the company stays competitive and how it deals with challenges in the increasingly competitive LETTER FROM THE CHAIRMAN sector of business software development...................................................... p. 26 Chairman's update on AmCham's work.........................................................p. 5 A!SELF"MADE SUCCESS NEWSLINE Jacek Kandefer, Director, Forever Poland, talks about the specifics of the multi"mar" News from AmCham and its members.......................................................... p. 6 keting business model and how the company is utilizing it in Poland.......... p. 28 WE!DRIVE!THE!FUTURE!OF!MOBILITY AMCHAM COMMITTEES Sascha Hümmerich, General Manager, Avis Poland and Avis Czech Republic, talks Who is who at AmCham Committees.............................................................p. 8 about how the car rental industry is evolving to meet the growing demands of the ever"sophisticated clients.................................................................................p. 30 AGENDA PIONEERING THE CIRCULAR!ECONOMY Intelligence from AmCham Committees........................................................p. 10 Giuseppe Santoro, Country Leader for Poland at Dow Polska, talks about how the company changes to embrace new market realities and faces the challenges of eco" EVENTS nomic and environmental sustainability...........................................................p. 32 Photo coverage of AmCham meetings and other events..............................p 45 AMCHAM.PL QUARTERLY is the o!cial publication of Layout design by Printing by the American Chamber of Commerce in Poland, Spektrum Tower, 16th Floor, ul. Twarda 18, 00"105 Warszawa . +48 (22) 520"5999 [email protected] 3 AMCHAM.PL QUARTERLY Vol. I, No. 1 ADVOCACY OF AMCHAM POLAND AmCham Poland Our top to transfer pricing. The date of entry into force of the regulations is January 1, 2019. supports the collective issues include: Key changes to the regulation of transfer pric! interests of its members ing include, by working to affect • introduction of new documentation thresh! olds for local documentation, changes that improve the • defining the obligation to prepare group business environment in PUBLIC!PROCUREMENT documentation in a new way, Poland through: LAW • introduction of new deadlines for the • close monitoring of Polish preparation of documentation, The Ministry of Entrepreneurship and Technology has • increasing the deductibility limits for licens! and EU regulations; presented