McKinsey report, Poland needs foreign direct investment

According to a report published yesterday by consultants McKinsey, Poland needs around zł. 46 billion in foreign direct investments annually in order to return to the path of sustainable economic growth of 5%. Polands Pr ivatization revenues cannot be taken into account in this case, as the wealth of the State Treasury amounts to EUR 10 billion. Therefore the government should be constantly attempting to improve the terms of inv estments and set up a specialized agency, in which to actively sell in vestment opportunities within the country, reads the report. According to the study, investments carried out by car manufacturers, Toyota, Citroen, and Peugeot in the Czech Republic provided 65,000 jobs. Poland is currently trying to attract Hyundai. "In order to get this investment we need money, because large enterprises ask for incentives from the government. We stand out, thanks to our large market, educated employees and the tax scale," said Leszek Miller. According to McKinsey, analysts in Poland stand a chance of attracting international corporations and should encourage them to relocate labor-intensive units, such as accounting or medical services. "We estimate the potential value of investments into the service sector at EUR 15 b illion. That is 500,000 new workplaces hopefully within the next five years," says Thomas Ruedel, a Managing Director at McKinsey. (Puls Biznesu, p. 11; Parkiet, p. 9) A.K.