On the rise
The figures were substantially higher than the Economy Ministry's previous estimate of $7 (zł.22.40) billion in foreign investments for last year.
"The main reasons for this increase are the positive trends in the world economy, which results in the rise of investment flow, and Poland's consequent realization of reforms" vice-president of the government's foreign investment agency, PAIiIZ, Sebastian Mikosz said.
He added that Poland's accession to the EU didn't have that much of an effect on the influx of foreign investments. However, since it established Poland as a stable country, the results of membership are likely to been seen in a few years' time.
Mikosz expects inflows to pick up further in 2005. "Poland has all the necessary factors for attracting investors - a growing economy, cheap labor, influx of structural funds and increasing incomes of the society," he said.
The 2004 total was the highest level since 2000, when investments peaked at $10.6 (zł.33.91) billion due to several big privatizations. PAIiIZ calculates that the increase in investment created 15,000 new jobs last year - a 50 percent increase on the previous year. And since most of these jobs were a result of greenfield investments, Mikosz said: "These are good, stable long-term jobs and, what's more, each such workplace indirectly creates a few more."
According to PAIiIZ, 41 percent of investments were directed at the manufacturing sector, with financial intermediation and real estate sectors occupying the second and third positions by attracting 27 and 11 percent of total investments, respectively.
French corporations invested $1.57 (zł.5.02) billion in Poland in 2004 putting them ahead of US companies, who allocated $1.43 (zl.4.57) billion. International corporations were the third biggest investor group, followed by German and Dutch enterprises.
"The main reasons for this increase are the positive trends in the world economy, which results in the rise of investment flow, and Poland's consequent realization of reforms" vice-president of the government's foreign investment agency, PAIiIZ, Sebastian Mikosz said.
He added that Poland's accession to the EU didn't have that much of an effect on the influx of foreign investments. However, since it established Poland as a stable country, the results of membership are likely to been seen in a few years' time.
Mikosz expects inflows to pick up further in 2005. "Poland has all the necessary factors for attracting investors - a growing economy, cheap labor, influx of structural funds and increasing incomes of the society," he said.
The 2004 total was the highest level since 2000, when investments peaked at $10.6 (zł.33.91) billion due to several big privatizations. PAIiIZ calculates that the increase in investment created 15,000 new jobs last year - a 50 percent increase on the previous year. And since most of these jobs were a result of greenfield investments, Mikosz said: "These are good, stable long-term jobs and, what's more, each such workplace indirectly creates a few more."
According to PAIiIZ, 41 percent of investments were directed at the manufacturing sector, with financial intermediation and real estate sectors occupying the second and third positions by attracting 27 and 11 percent of total investments, respectively.
French corporations invested $1.57 (zł.5.02) billion in Poland in 2004 putting them ahead of US companies, who allocated $1.43 (zl.4.57) billion. International corporations were the third biggest investor group, followed by German and Dutch enterprises.
