PAIZ estimates foreign direct investments to exceed $11 billion in 2000

According to estimates of the Polish Foreign Investment Agency (PAIZ) foreign direct investments will amount to $11 billion to $12 billion this year totalling about $50 billion since 1989. "This year will be the best in the field of foreign investments and in the first half of the year companies allocated almost $4.1 billion," said PAIZ president Adam Pawlowicz. Forty-five new companies entered the Polish market in the first half of 2000. The biggest newcomer was Swedish Vattenfall investing $232 million. "The biggest investment activity was recorded in the electricity sector due to privatization plans," said Pawlowicz. Americans were most willing to invest in Poland and their involvement in the Polish market amounted to 15% of total investments. US Citibank was the biggest individual investor and spent $750 million for shares of Bank Handlowy. The US has so far invested $6.4 billion, Germany, $6.2 billion and France, $4.1 billion. By the end of the year France will become the leader due to the privatization of Telekomunikacja Polska S.A. (TPSA), which amounts to $4 billion. Investors are most willing to invest in production followed by the financial intermediary sector. Last year foreign direct investment totalled $8.3 billion. (Gazeta Wyborcza, page 26, Reuters)