Poland is a country of brave, enterprising people with a “crisis resistant” economy. It’s also a good business partner.
The country has become a place in which foreign capital returns three times more likely than to any other United Europe country. U.S. companies have already discovered Poland. American investment is one of the highest among foreign businesses in the country.
Twenty years ago, Poland became a leader of democratic transition behind the Iron Curtain. Now, it hungers to be a regional leader politically and economically. The country has the strongest economy in Central and Eastern Europe. Compared to the rest of the Europe, it has the lowest risk of financial crisis.
Poland maintained positive GDP growth during a down economy in 2008 and 2009, the only one of the 27 European Union countries to do so. GDP value over the past 20 years shows the Polish economy is growing faster than its surroundings. Not only is the country catching up with neighbors in Western Europe, it has much to offer foreign investors.
Poland has proven to be the most attractive investment market of the region. According to 2006-2011 data from the United Nations Conference on Trade and Development, the value of foreign direct investment in Poland was the highest in the Eastern Economic Community. The country is the third in the world — behind China and the U.S. — as one of the most attractive locations for production investments.
U.S. companies active in Poland say the country presents an attractive combination of investment incentives. Due to stable economic growth, low inflation and political stability, the country provides a safe environment for long-term investment.
Poland attracts U.S. companies by offering strong technology clusters, low-cost manufacturing and access to a young, well-educated labor force fluent in English. For U.S. businesses, Poland is an attractive market with access to potential clients. It providestax breaks and government grants for foreign investors. All of these elements are offered by Polish Special Economic Zones — 14 separate territories allocated for running businesses on specific terms, such as income and property tax exemption.
The popularity of Poland is rising as a business destination for foreign capital. So is the number of U.S. businesses in the country. There are 300 members of AmCham, the American Chamber of Commerce to the European Union, that represent American companies in Poland. For the last 20 years, U.S. businesses have invested $20 billion. Recently, Amazon opened a fulfillment center that will employ 6,000 people.
According to a recent AmCham report, 87 percent of U.S. companies are considering developing their business in the country; 40 to 60 percent have already done so. For more information, visit: paiz.gov.pl/en.
Monika Piatkowska is deputy president of the Polish Information and Foreign Investment Agency.
