Investment boom?

In the part of countries from our region, the influx of foreign capital has already been much higher than last year. Many states still struggle with problems

Publikacja: 10.09.2010 01:43

Poland offers foreign investors large internal market and qualified staff. From left: Ivan Jukl from

Poland offers foreign investors large internal market and qualified staff. From left: Ivan Jukl from Czechtrade, Sławomir Majman, President of PAIiIZ and Joze Mencinger, former Minister of Economy from Slovenia

Foto: Fotorzepa, Raf Rafał Guz

– The inflow of foreign investment in the first half of the year was by 80 % higher than in relatively positive 2009 – said Slawomir Majman, President of the Polish Information and Foreign Investment Agency during a panel „Investment in Central and Eastern Europe: after the crisis”.

As long as the forecasts of further inflow of investment to Poland are pretty good, experts emphasize that our region cannot be any longer treated as a coherent whole. – The Situation in the Czech Republic and Slovakia is not bad. On the other hand, one can anticipate that the problems of Ukraine, Lithuania or Latvia are not likely to end this or next year – said Jacek Socha, Vice-president of PricewaterhouseCoopers.

Last year GDP growth was recorded only in Poland, but we should not forget that in the same time unemployment, budget deficits or public debt were on the rise in all the countries of the region. – In order to maintain the inflow of foreign investment, one needs to help investors, although many countries refrained from such projects due to budget reasons – said Rafał Baniak, Deputy Minister of Economy.

Analyzing the inflow of foreign investment to Poland, one can see much slower interest of companies in the eastern part of the country. – Eastern Poland has chances for development, provided that all five voivodeships would act together – said Krzysztof Hetman, Deputy Minister of Regional Development during a panel „Investment opportunities in Eastern Poland – barriers and chances for development”. – One should engage in system related projects involving many partners starting from local self-government units through universities to business – he summarized.

For the development of Eastern Poland, we dispose of the funds in the amount 2.27 billion euros until 2013. – We hope that we can avoid mistakes committed in Eastern Germany which had much more money at stake – said Prof. Krzysztof Rybiński from Warsaw School of Economics. In his opinion it is essential that the regions should be distinguishable from one another, and not copy their development strategies. Krzysztof Opawski, former minister of infrastructure, emphasized the importance of developing transport infrastructure – new roads and railway lines as necessary components for the development of voivodeships.

Chances connected with investments in the pharmaceutical sector were discussed during the panel „Future of investment in Poland – chances and threats.” Companies from this industry spend even 20 % of their turnovers for research and development. – However, Poland produces mainly generic medicines, not covered by patent protection. That is why domestic production satisfies only approx. 30 percent of the market – in Ireland it is 10 times higher than the domestic needs – explained Witold Orłowski, the economist of PricewaterhouseCoopers.

In Poland the GDP of voivodeships, where the biggest pharmaceutical concerns located their plants, increased by 0.5-1.9 proc. – Such projects attract also indirect investment. Our engagement is long-term and translates into increase of employment – stated Marynika Woroszylska-Sapieha, President of Sanofi-Aventis Poland.

– Poland has great advantages – it is a big market, located in the heart of Europe with a great number of well-qualified employees. Unstable law and excessive bureaucracy are disadvantageous – added Donald Bellamy, President of Novartis Poland.

The issue of barriers for investment was also noticed by the French Chamber of Commerce and Industry in Poland (CCIFP), which presented yesterday a White Book with a collection of frequently absurd Polish regulations. – We were collecting them for half a year from the French companies, which are among the biggest investors in Poland; however these problems are also confronted by Polish companies – said Monika Constant, Director General of CCIFP.

Many problematic regulations are related to taxes and real estate market. The majority of sites do not have prepared spatial development plans, which prolongs the waiting time for construction permits. Furthermore, in order to receive such a permit, the investor must submit many more documents than in France. In turn, as long as fiscal law is concerned, there is no uniform interpretation in entire Poland. The majority of discrepancies appear between interpretations of tax authorities and administrative courts.

[i]Official site of Krynica Economic Forum

[link=http://www.forum-ekonomiczne.pl]www.forum-ekonomiczne.pl[/link][/i]

– The inflow of foreign investment in the first half of the year was by 80 % higher than in relatively positive 2009 – said Slawomir Majman, President of the Polish Information and Foreign Investment Agency during a panel „Investment in Central and Eastern Europe: after the crisis”.

As long as the forecasts of further inflow of investment to Poland are pretty good, experts emphasize that our region cannot be any longer treated as a coherent whole. – The Situation in the Czech Republic and Slovakia is not bad. On the other hand, one can anticipate that the problems of Ukraine, Lithuania or Latvia are not likely to end this or next year – said Jacek Socha, Vice-president of PricewaterhouseCoopers.

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