Time for a makeover

"Poland is attractive for investors but there are also many problems," said Reinhard Schweppe, German Ambassador to Poland. "The foreign investor still feels insecure, he doesn't know what to expect from the government. The political framework is not yet clear."

The Ambassador made the comments at a seminar organized by the Polish-German Chamber of Industry and Trade, where entrepreneurs and German investors gathered to discuss the future of foreign investment in Poland. According to the Chamber's president, Wojciech Kostrzewa, "there is a threat that Poland will lose its attractiveness in the future."

Solange Olszewska, deputy president of Solaris, went further, saying there are more interesting countries to invest in. "I still think it is not bad, but it is not as good as it was a couple of years ago. However, thanks to Poland's proximity to the West, Poles' creativity and their eagerness to take risks, Poland is still attractive for investors. But it used to be much better. The tax law and the labor costs impede further investments," she said.

Kostrzewa added that as far as labor costs are concerned, Poland will now have to compete with new EU countries such as Bulgaria and Romania, where they are much lower.

Entrepreneurs identify the lack of proper transport infrastructure as one of the biggest barriers to fast growth. There is also the problem of bureaucracy and the constantly postponed promise of a 'one-stop shop' for setting up a business. According to Kostrzewa, shortening the protracted trials in business courts would also improve conditions.