Golden year for foreign investment in Poland

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2021 was a record year for the Polish Investment and Trade Agency (PAIH), with foreign companies investing over EUR 3.5 billion in Poland with the agency’s support – EUR 800 million more than in the previous year and 700 million more than in the record-breaking year of 2019.

Behind these numbers is not only money, but also new jobs – nearly 18,000 of them, according to PAIH President, Krzysztof Drynda.

“I am glad that PAIH, as an agency responsible for foreign investments in our country, can support the Polish economy so effectively,” says Piotr Nowak, head of the Ministry of Development and Technology supervising PAIH.

The largest investors in terms of financial outlays in 2021 were: South Korea, investing EUR 1.9 billion in Poland and creating 1,967 jobs; Germany implementing projects worth EUR 155 million and generating 192 jobs, and the USA, whose investors planned investments of EUR 363.91 million, providing 5,414 jobs. Poland in 2021 was an attractive place for the development of investment activities in the following sectors: BSS (IT + SSC), R&D, electro-mobility, automotive, medical, electronic, construction materials and chemicals.

The Polish Investment and Trade Agency attracted 96 foreign investments in 2021, including 37 from Belarus.

“This is a huge success of the Business Harbor program,” Nowak said. “Thanks to this, Belarusian specialists, start-ups and companies from the IT industry receive comprehensive assistance in relocating their business to the territory of the Republic of Poland,” he added.

The Business Harbor project was a great success and in July was extended to other countries, including Russia, Ukraine, Armenia, Georgia and Moldova. The agency and its partners are also working on further expansion.

The greatest number of investment projects was attracted by Mazowieckie voivodship, where 27 projects were located, Dolnośląskie – 15 – and Małopolskie and Śląskie, with 10 projects a piece. When it comes to the value of investments, the Silesian Voivodeship is the undisputed leader.

“What distinguishes Poland in the eyes of investors is primarily young, well-educated people, fast investor service, support programs that are well-suited to market needs, such as the government grant supported by the PAIH and CIT exemption,” Nowak adds.

The PAIH has also set ambitious goals for 2022. Despite growing competition between countries for investment, Drynda said he is convinced another FDI record will be broken this year.

“As an agency, we are already focusing not only on strengthening the development of sectors important for the country, but also on attracting investors from the industries of the future: electromobility, electronics and IT,” Drynda said.

“2022 brings with it uncertainty and risks related to unrepaired supply chains, which led to the crisis in the automotive industry. We will make every effort to promote Poland in the international arena next year. To present it as a country taking over the role of the production center of Europe. If pandemic restrictions allow, we plan to continue to actively acquire high-quality investments from the most promising countries, such as South Korea, Japan, the USA, and to promote Poland in those markets from which fewer investments have been coming to us,” he added.

Source: How to do business in Poland

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