Investing in Poland
Posted by jonathanfryer on Wednesday, 24th October, 2012
The Polish Embassy in London threw its doors open to the Wednesday Club of the Institute of Directors (and a couple of journalists, including me) this evening, to promote investment opportunities in Poland. The country has much to be proud of, having been judged by the IMF to be one of the best places to put one’s money in Europe. This is remarkable when one thinks that only 30 years ago it was in effect a Communist dictatorship, albeit one with the Solidarnosc trade union activists in Gdansk demanding freedoms. Britain is actually the third most important investor in Poland, after the United States and Germany, with much of the FDI going into the automobile and heavy industry sectors, though IT and other concerns are growing fast. The fact that very few foreigners actually speak Polish is of little import, as increasingly Poles, having dumped Russian as a compulsory subject at school, now speak good English. Moreover, Poland make a great success of its presidency of the European Union last year, including putting on a brilliant cultural programme, and many of the Polish migrant labourers who came to Britain after EU accession have since returned home to take part in the country’s progress. Poland is not part of the eurozone as yet — perhaps a blessing just at the moment — but its economic growth rate is something the UK can only envy. So there is every reason to look forward to increased bilateral trade and investment.