PolandAccess.pl
SEARCH
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Other » Monthly - June 28, 2006
Appeal to Investors
Article's tools:
Print

The United States is an important economic partner for Poland. In terms of investment numbers, American companies firmly occupy third place. During a meeting with American investors, Polish President Lech Kaczyński appealed for an even greater presence in the Polish market.

Despite Poland's increasing integration into the structures of the European Union, its historical and economic ties with the United States have remained very strong. According to data from the Ministry of the Economy, annual Polish exports to the United States exceed $1.6 billion, and Polish imports stand at $2 billion. Bilateral trade is growing; exports were 4.5 percent higher and imports 15 percent higher than last year. Currently, the United States is Poland's 16th trade partner in the world in terms of exports, and the 10th in terms of imports. The value of American investment in Poland amounts to about $12 billion, placing the country third in the ranking, after France and the Netherlands.

Last week, Kaczyński met representatives of American businesses associated with the International Group of Chambers of Commerce (IGCC) in Warsaw. The meeting focused on foreign direct investment in Poland and Kaczyński encouraged American investors to see Poland as an investment location, and thanked those already operating in the country. "Poland has a relatively cheap work force, which means lower labor costs, as it is more elegantly put today. Poland is in a very good location in Europe with many contacts to the West, as well as numerous contacts with the East. From that point of view, Poland is a good location for capital, especially to the east of Poland. Moreover, the country has highly qualified staff, particularly in some fields; it is enough to mention computer science. Poland also has many highly qualified lawyers a huge proportion of which, especially the younger generation, is fluent in at least one foreign language. We also have a substantial number of engineers," said Kaczyński.

Poland currently ranks fifth in terms of popularity among foreign investors. American investors in Poland play a significant role in implementing state-of-the-art technologies and managing large companies. A major success was recently achieved in Wrocław, where American companies Whirlpool, 3M and Hewlett-Packard invested in new projects.

According to Kaczyński, the government's main task in creating conducive conditions for investment is fighting corruption. "Concerning anti-corruption measures, the current authorities treat those actions with the utmost seriousness. A special anti-corruption office has been established and the law enforcement community's focus on corruption has been considerably increased," said Kaczyński. Corruption is present in Poland, but it has been identified. The president gave the example of particularly bothersome types of crime in the United States, that were effectively reduced following a period of identification. Kaczyński said that "in Poland the problem of corruption has been identified both at the political and media levels. It could be said that the press trails corruption where it actually occurs, and increasingly where it does not. The atmosphere in this respect, however, is certainly far from consistent," said Kaczyński.

Notably, Poland welcomes foreign investors with a range of investment incentives adapted to their needs. Various forms of public assistance are available, including grants, incentives and tax breaks. As a means of encouraging regional development, 14 Special Economic Zones (SSEs) have been established with a total area of 6,300 hectares. Investment activities enjoy preferential conditions in the SSEs.
© The Warsaw Voice 2010-2012