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The Warsaw Voice » Business » June 11, 2008
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Poland Most Attractive to Investors
June 11, 2008 By A.R.    
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Poland is perceived as the most promising investment destination in Europe, ahead of Germany, Russia, France and Romania, according to a report on Europe's investment appeal compiled by global consulting firm Ernst & Young.

According to Agnieszka Tałasiewicz, a partner at Ernst & Young and head of a team of consultants dealing with investment breaks and subsidies, the fact that Poland tops the list in Europe shows that investors take into account not only "hard criteria" such as infrastructure, transport and labor costs, but also look at a country's long-term prospects. "The investor is ready to accept a less perfect infrastructure and tax system if they enter a good market, with qualified and reliable human resources, especially if they can benefit from financial assistance in a country that is the largest beneficiary of EU funds," Tałasiewicz says.

Krzysztof Rybiński, a partner at Ernst & Young and head of a team for economic strategy, says that Poland should "take advantage of its position as Europe's most attractive investment location to speed up reform and improve its utility and knowledge infrastructure." If the country succeeds in doing so, Rybiński says, it will be able to keep its leading position in the coming years and attract projects that are increasingly advanced technologically. Poland ranks second in Europe, after Britain, in terms of job creation, Ernst & Young says. Last year, foreign investors created 18,399 new jobs here. The country also performs well in terms of the number of new investment projects. Poland attracted 146 new projects last year and ranks seventh among European countries.

Europe as a whole witnessed a record increase in the number of foreign investment projects last year. This shows that Europe is still a major investment location, the report says.

Investors worldwide are especially attracted to Asian markets. The world's 10 most attractive investment destinations include China, Hong Kong, Singapore, India and Brazil, with the United States in first place.

Ernst & Young's European Attractiveness Survey is conducted every year. This year, Ernst & Young polled 834 managers working for foreign companies in 43 countries; 56 percent of those polled came from Europe, 33 percent from North America, and 11 percent from Asia and other regions.
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