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The Warsaw Voice » Other » October 22, 2008
Privatization in Poland
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Polish Appeal
October 22, 2008   
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Despite the international financial crisis, Poland is still one of the best investment locations in Europe, as it has been for years. Analysts see it as a young but stable democracy with a rapidly developing economy.

Amid turmoil on global markets, the Polish economy is doing well. The Center for Social and Economic Analyses (CASE) estimates that average annual inflation this year will reach 4.3 percent and drop to 3.9 percent next year. According to the Finance Ministry, the European Commission and experts from the Gdańsk Institute for Market Economics, GDP growth in 2009 will reach 4.8 percent. The Finance Ministry estimates GDP growth this year will be 5.5 percent.

Among the best
International companies in Poland invested so much in 2004-2007 that in a report by the Economist Intelligence Unit (EIU) research center in Britain, Poland is described as one of the most convenient investment locations in Europe. The report suggests that companies which consider moving a part of their operations to Poland should focus on regions where labor costs are up to 30 percent lower than in Warsaw and Cracow even at the early investment stages. At the same time, such regions have a big supply of qualified staff.

The European Attractiveness Survey 2008 by Ernst & Young is more proof that foreign investors are keen to include Poland in their investment plans. In the survey, Poland comes in second in Europe in terms of the number of newly created new jobs, right after Britain. The high activity in this department makes Poland stand out among most European countries which have reported a decline in industrial investment, from 57 percent in 2006 to 40 percent in 2007.

Poland also performs well in terms of the number of investment projects, which totaled 146 last year. That figure puts Poland in seventh place among European countries in the Ernst & Young survey.

Poland is regarded as a promising country with good prospects for investment. In this area, it ranks high in Europe, ahead of Germany, Russia, France, and Romania.

According to the Investment in Poland report compiled by the KPMG consulting company, over the next two years privatization in Poland will be mainly carried out in the following sectors: energy (production and distribution of heat and electricity, natural gas and fuel companies), chemical (refineries, "heavy chemistry"), mining, the distilling industry, fishing, transportation, the machine and metal industries, and construction.

Marek Mejssner
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