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The Warsaw Voice » Business » March 4, 2009
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FDI Expected to Fall
March 4, 2009 By A.R.    
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95 billion zlotys will be the value of all construction projects in Poland related to the Euro 2012 soccer championships that Poland will host together with Ukraine-according to analysts from market research company PMR.

Foreign direct investment (FDI) in Poland this year is expected to drop to 7-10 billion euros as the global financial crisis bites, the Polish Information and Foreign Investment Agency (PAIiIZ) predicts. "The most important factor restricting the inflow of investment is that lending to investors has come to a standstill," said PAIiIZ president Paweł Wojciechowski. "Another factor is reduced demand worldwide, which leads to a sharp decrease in investment."

According to preliminary figures, last year FDI in Poland reached 12.2 billion euros, roughly 20 percent less than in 2007. In 2008, PAIiIZ handled 56 investment projects worth a total of 1.5 billion euros, Wojciechowski said. These included projects by Cadbury of Britain, which invested 256.7 million euros in Poland's food sector, creating 750 jobs, and Lafarge of France, which invested 115 million euros in the construction sector, creating 625 jobs. Other major investment projects included ADPF, a 150-million-euro German-Japanese project in the automotive sector that created 700 jobs.

The list of investors also included Jabil of the United States (electronics sector, 20 million euros, 600 jobs); Credit Suisse of Switzerland (BPO sector, 8.3 million euros, 500 jobs); Lenovo Technology B.V. of China (electronics sector, 4 million euros, 1,276 jobs); and SWS Group of Ireland (BPO sector, 1 million euros, 370 jobs). With 12 projects last year, the United States maintained its lead among foreign investors in Poland. Germany ranked second with six projects, and Japan was third with five projects.

The continued uncertainty on international markets makes it difficult to project the amount of FDI in Poland in 2009, Wojciechowski said. This is why the PAIiIZ's estimates are within a broad range of 7-10 billion euros, he said, adding that FDI will drop this year mainly as a result of lower reinvestment. In the past several years, reinvestment has accounted for the largest portion of FDI in Poland.
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