Warsaw Stock Exchange with capital market participants working on a proposal regarding the role of the market in Morawiecki Plan – said on Friday the head of the Warsaw Stock Exchange Małgorzata Zaleska. She stressed that the capital market is a very good place to support innovative projects.
“Stock Exchange – together with capital market participants – working on the proposal, as the capital market can be entered in the Plan of Prime Minister Morawiecki. Therefore, the capital market is a fundamental element and tool for the implementation of this plan. (…) There is a certainly a very good place to support innovative projects “- stressed the head of the Warsaw Stock Exchange during the National Forum of Students’ Scientific Capital Market.
It assessed that the GPW should attract new investors and issuers. “The stock market should be based on long-term forms of investment. Especially from the point of view of individual investors (…) the development of various types of instruments and incentives for long-term saving is necessary. By the time when we retire (…) have what dignity live “- she noted.
“No market, no exchange can not function without trust. ( …) this confidence will cause the company, individual investors will want to come to the stock exchange. (…) We have some work to do in terms of rebuilding confidence in the market, “- she added.
In her opinion, “we should learn from this, to treat this as a Polish space, entities, the instruments of choice.” “Warsaw Stock Exchange should be the exchange of choice for companies, entities operating in Poland” – she said. She added that consideration should be given adequate legal solutions in this area.
It should also be considered – according to her – the introduction of new products that have proven themselves in foreign markets. “I think so. REIT-y (ang. Real Estate Investment Trust), ie the companies that operate the real estate market. They acquire the property, manage them and, of course, if it is necessary to dispose of them” – she explained.
The head of the Warsaw Stock Exchange, explained that these companies are generally exempt from taxes, but also required to pay a very high dividend yields. “This means that securities issued by REITs-y become attractive to shareholders. At the same time investments of these entities are long-term,” – she pointed out.
Zaleska said moreover, the need for further development of the bond market. “The Warsaw Stock Exchange is seen primarily through the prism of the stock market. To a lesser extent, by the development of the bond market. (…) I am convinced that the bond market has potential for further development. I think of corporate bonds, including bonds of local government units” – noted .
“To turn bonds even more attractive, it is necessary to increase transparency in the functioning of this market. (…) Today, most of these bonds is not assigned risk weights. There is no assigned rating. (…) Giving some level of risk it is fundamental to anyone who purchases a package of valuable could assess how risks. One idea is to build a Polish rating agency that would give ratings to securities, corporate bonds (…) that these ratings were available, that is to say simply not very expensive. It may increase market transparency “- assessed.
In her opinion, the current EU financial perspective bonds can contribute their own in acquiring EU funds. “Also some external solution – I mean even a bank levy – should contribute to the development of the bond market, including corporate,” – she pointed out.
“Plan for Responsible Development Polish”, prepared under the direction of Deputy Prime Minister, Minister for Development Mateusz Morawiecki, was adopted by the government in mid-February. According to the development of the Polish economy is based on five pillars. They are: Reindustrialization, the development of innovative companies, equity, foreign expansion and sustainable social development and regional level.
EU funds and national contribution, earmarked for the plan, are expected to reach a total of 760 billion zł. (PAP)
dol / MHR /
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