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The Warsaw Voice » Business » November 29, 2012
Business & Economy
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Warsaw Still Attractive
November 29, 2012   
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Despite an increasingly competitive environment, Poland attracted 46.7 percent more foreign direct investment in 2011 than a year earlier. At the same time, total foreign direct investment in Europe fell by more than 7 percent. Poland’s capital, Warsaw, has been ranked third in Eastern Europe in European Cities and Regions of the Future 2012/2013, a report by fDiIntelligence, a specialist division of the Financial Times group providing industry insight and analysis on cross-border expansion and greenfield inward investment. In the same report, Warsaw was ranked fourth among major European cities in terms of business friendliness, just behind London, Moscow and Brussels.

The Polish market remains extremely appealing to investors. According to a Deloitte report on emerging countries in 2012, Poland is one of the countries that offer the greatest possibilities for an increase in company income over three years. About 45 percent of multinational companies active on emerging markets listed Poland as a perfect place to invest.

Global corporations choose Warsaw
According to 2010 research by CB Richard Ellis, 150 of the world’s biggest corporations already have offices in Warsaw. This ranks Warsaw fifth among cities in emerging market economies and 12th worldwide.

Warsaw doing well
The Polish capital is considered to be among the most prosperous cities in the world. In the United Nations’ latest annual report on the world’s richest cities, Warsaw came in 19th, beating Lisbon, Prague and Moscow. This high position was achieved thanks to Warsaw’s economic development and its quality-of-life advantages to inhabitants.

Warsaw’s GDP per capita is three times higher than the Polish average. Warsaw is the main contributor to the Polish GDP, accounting for 17 percent of the total. Central Statistical Office data confirm that Warsaw tops the list, with a GDP per capita of over 26,000 euros, compared with the national average of around 9,000 euros. The gap between Warsaw and the second most contributing city, Poznań, is enormous. Poznań’s GDP per capita is 17,000 euros.

Stability—Warsaw’s selling point
Warsaw’s authorities follow a prudent though ambitious financial policy, with a strict limit on internal debt. This policy has produced a stable economic situation, winning the city positive grades from rating agencies: a stable A2 international rating from Moody’s Investor Service and a stable AAA domestic rating from Fitch Ratings.

Latest and future investment in Warsaw
Today both short-term visitors to Warsaw and those who live here on a daily basis can see that the city is one big construction site. The city is changing for the better with an improving quality of life for both inhabitants and visitors. One of the largest investment projects in recent years was the Copernicus Science Center, which opened two years ago at a site near the Vistula River. It continues to set new records in terms of popularity among visitors. This year Warsaw launched a new—ninth—bridge over the Vistula River. The bridge was named after the two-time Polish Nobel Prize winner born in Warsaw, Maria Skłodowska-Curie. Another great investment project completed this year was a railway line connecting the city center with Chopin Airport. Warsaw is also more environmentally friendly as of this year thanks to its enlarged and modernized Czajka sewage treatment plant. Due to this project, Warsaw no longer pollutes the river and at the same time meets EU standards in this area. The biggest and most visible investment project is the ongoing construction of a second metro line. Other ongoing projects include public-private undertakings such as underground parking garages in several central city locations, in addition to the replacement of bus shelters, modernization of city hospitals and municipal construction. In the near future the western bank of the Vistula will gain a new look and the capital will be able to boast another area teeming with life and full of attractions. This is yet another investment project close to the Vistula, after the Fountain Park and the Copernicus Science Center.

Innovative Warsaw
Warsaw is an increasingly ambitious city of business. Recently a strategic program for the economic development of Warsaw, Innovative Warsaw 2020, was launched. This program, the first such program in the city’s history, provides for support for entrepreneurship and the development of innovation in various ways, including the establishment of so-called business incubators in the Powi¶le and Praga Północ neighborhoods.

Małgorzata Borowicz, City of Warsaw
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