Government investment subsidies woefully low to make any real impact

The Economy Ministry has received 106 valid requests for investment subsidies. While the government only budgeted zl. 90 million this year, the requests exceeded a total value of zl. 757 million. Of the zl. 90 million, 80% of this will be divided among the first companies that lodged their applications. "Entrepreneurs whose requests were negatively evaluated by the Ministry might submit their applications again," said Deputy Economy Minister Ewa Freyberg. This is the first year that Polish and foreign companies can apply for financial help for their investments. Out of 169 applications received by September 2, only 38 were prepared correctly. The documents have been returned to the companies. Next year the prospects for receiving help will be higher, as former finance minister Marek Belka announced that in 2003 the government will earmark zl. 400 million for this purpose. However, the draft has not mentioned this figure. "Analysts claim that this sum should be closer to zl. 1 billion for it be of any real effect," said the director of the Polish Foreign Investment Agency, Antoni Styrczula. (Puls Biznesu, pp. 1, 8) M.M.