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Foreign investors in Poland appreciate country’s strengths versus regional rivals


2012-04-01



Poland remains the most attractive investment destination in Central and Eastern Europe for foreign investors operating in the country, though its lead over second-placed Czech Republic has narrowed compared with a year ago and its standing deteriorated on 14 out of 21 indicators, according to an annual survey by the Polish-German Chamber of Commerce, which this year was conducted in collaboration with six other bilateral chambers representing investors from the UK, Ireland, Canada, Portugal, Scandinavia and Switzerland. The country received an aggregate score of 4.64 points (on a scale of 1-6), down from 4.80 in 2011. The Czech Republic got 4.15 points (up from 4.13), followed by Slovakia at 3.65 points (down from 4.12). Foreign companies have also become markedly less upbeat about the state and outlook for the Polish economy.

The survey shows that 95% of the surveyed investors have no regrets about investing in Poland and would readily do so again, the same as in 2011 and up from just 60% in 2008, marking a continuation of a steady upward trend in investor satisfaction. (It is the highest level since the first edition of the survey).

Foreign investors appreciate Poland’s status as EU member (4.30 points), the skills (3.78), motivation (3.61) and productivity (3.60) of its workforce, its political stability (3.42), or the existence of a large subcontractor base.

The country’s main perceived weaknesses are its tax system and administration (2.54 points), intransparent public procurement procedures (2.55), inefficient public sector (2.57) and poorly developed infrastructure (2.6). Interestingly, the proportion of respondents who say Poland should adopt the euro to make itself more attractive as an investment destination was mentioned by just 61%, down from 83% last year.

According to Michael Kern, General Manager of the Polish-German Chamber of Commerce, the value of foreign investment should remain at roughly similar levels in the near future but the number of projects is likely to increase, as there is growing interest among German SMEs in investing in Poland.

Meanwhile, 37% of the respondents described the economic situation in Poland as good, down from 50% in 2011, while 54% said it was satisfactory, and 9% described it as bad (up from just 2.5%). Also, the proportion of those who expect the economic situation in Poland to deteriorate surged to 24% from 6.3%, with 51% expecting no change and 25% an improvement.

The survey was conducted among 186 companies of various sizes.



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PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.