Tip of the iceberg?
A number of companies are queuing up to invest in Poland, with the foreign investment agency (PAIiIZ) set to sign deals worth up to €1.5 (zł.6) billion in the first quarter.
Sebastian Mikosz, deputy head of PAIiIZ, said the organization is close to signing deals with firms such as LG Electronics, Fagor and Hewlett Packard.
"Overall we hope that the deals will create over 10,000 jobs," said Mikosz. The cash is expected to gradually flow into Poland over months, if not years in the case of larger projects, he said.
Foreign direct investment peaked in 2000 at $10.6 (zł.32.5) billion, mainly on the back of large privatizations. Last year it came to around $7 (zł.21.5) billion and last week Economy Minister Jerzy Hausner said he expected it to rise significantly this year.
"Joining the EU has not only eased technical difficulties, but it also helped to remove a kind of a psychological barrier," said Sebastian Mikosz.
LG wants to make plasma TVs near Mława and plans to invest around $130 million and create over 2,000 jobs. Fagor plans to produce home appliances near Wrocław and looks set to create about 1,000 jobs.
Mikosz said that on top of large manufacturing projects, Poland has also been successful at attracting investments in call centers and back-office centers. "Hewlett Packard is an example here. It wants to create over 1,000 jobs in the next few years by building an accounting center," he said.
The first significant investment in 2005 came from the French tire-maker Michelin, which decided to expand its current plant near the northern city of Olsztyn and build a new factory.
Mikosz claimed the initial deal was worth around €320 (zł.1,277) million euros, but Michelin says that the plant will cost €250 (zł999) million. (Reuters)
Sebastian Mikosz, deputy head of PAIiIZ, said the organization is close to signing deals with firms such as LG Electronics, Fagor and Hewlett Packard.
"Overall we hope that the deals will create over 10,000 jobs," said Mikosz. The cash is expected to gradually flow into Poland over months, if not years in the case of larger projects, he said.
Foreign direct investment peaked in 2000 at $10.6 (zł.32.5) billion, mainly on the back of large privatizations. Last year it came to around $7 (zł.21.5) billion and last week Economy Minister Jerzy Hausner said he expected it to rise significantly this year.
"Joining the EU has not only eased technical difficulties, but it also helped to remove a kind of a psychological barrier," said Sebastian Mikosz.
LG wants to make plasma TVs near Mława and plans to invest around $130 million and create over 2,000 jobs. Fagor plans to produce home appliances near Wrocław and looks set to create about 1,000 jobs.
Mikosz said that on top of large manufacturing projects, Poland has also been successful at attracting investments in call centers and back-office centers. "Hewlett Packard is an example here. It wants to create over 1,000 jobs in the next few years by building an accounting center," he said.
The first significant investment in 2005 came from the French tire-maker Michelin, which decided to expand its current plant near the northern city of Olsztyn and build a new factory.
Mikosz claimed the initial deal was worth around €320 (zł.1,277) million euros, but Michelin says that the plant will cost €250 (zł999) million. (Reuters)
