KERM completes legislation aimed at upping investments in Poland

The Cabinet Economic Committee (KERM) has completed and approved draft legislation aimed at increasing investments in Poland. Economy Minister Janusz Steinhoff is to present the draft bill within four weeks. The strategy comes as a result of a drop in investments, exemplified by the fact that from 1993 to 1997 investments rose on average 19%, while from 1998 to 1999 they grew by just 6.4%. The strategy aims primarily at increasing economic competitiveness at a local level by placing money into less well-off gminas to improve infrastructure, thereby upping their chances of attracting investment. The draft bill assumes support for gminas would also take the form of concessions granted to investors that create new jobs at the gmina level. Its authors hope that within two years the legislation would ultimately lead to increased budget revenues. (Rzeczpospolita, p.B2) M.K.