Wednesday, July 2, 2014
Our Partners in Poland
Poland is one of the fast-growing and developed markets in Europe due to the increasing number of new investment projects. A World Investment Report published in June 2013 by the United Nations Conference on Trade and Development (UNCTAD) estimates that by the year of 2015 Poland will be 4th in Europe and 14th in the World most attractive economy for investment
As the sixth largest EU member state and the largest of the post-communist countries, Poland provides foreign investors with the opportunity of an easy access to the worlds’ biggest free market area. Entrepreneurs choosing to invest in Poland can therefore benefit from the country’s position in Central Europe and be taking advantage of lower transportation costs of goods and facile import and export procedures.
The country provides business owners with a well-educated and highly skilled workforce of 17 million workers, certified in areas like economy engineering, IT and science. The country is also called the “manufacturing hub of Europe” due to the high number of factories and low cost of production. The Polish labor cost is 4 to 10 times cheaper than in other countries according to a report from Boston Consulting Group. Poland offers competitive products due to their superior quality.
The legislation is becoming increasingly more open and friendly for foreign investors in Poland, granting them real possibilities for the development of new economic entities. One of the largest and most successful development projects meant to encourage investments was the creation in 1995 of Polish Special Economic Zones. The Government established 14 such zones and entrepreneurs have the possibility to conduct their activities on preferential terms and with the assurance lower taxes than in other Polish areas.
According to the Central Statistical Office of Poland, in 2010 the country’s economic growth rate was 3.9%, which was one of the best results in Europe. In the first quarter of 2014, the economy of Poland increased by 3.4% and by the end of the year is expected to grow by another 3.5%. Premises for the future look bright since the country’s economy is expected growth by 3.5% in 2015 and 3.8% in 2016. All data show a high potential for business investments and company formation in Poland.