The Polish government has declared the country to be a ‘key location for investment’ on the continent.
An article published this week on the Ministry of Economy Development and Technology’s website points to the over one-fifth increase in roles related to investment within the country, a move it says is due to companies from the US and Germany pushing for the increase of the Polish investment sector.
The article reads: “In 2023, the United States completed 52 investment projects. This resulted in the creation of 9,805 jobs. Thus, the US accounted for 36% of direct foreign investment in Poland. On the other hand, last year our western neighbours completed 36 investment projects. This translated into 16% of FDI in Poland. The creation of new jobs in 2023-27 makes Germany the largest European investor in our country.”
It was also noted by the authors that further planned German investment should create about 6,800 roles within the Silesian and Malopolska regions. However, it said that challenges lie ahead.
They wrote: “In the face of decreasing interest in Europe from American investors (-15% across Europe compared to 2022), the effective attraction of German capital remains crucial for the further development of the Polish economy. Further strengthening of relations with German partners and offering attractive conditions for investors may contribute to maintaining Poland as a leading investment destination in the region.”
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The Polish government was referring heavily within this article to the recent Attractiveness Survey 2024, released in June by EY.
While that report did acknowledge Poland to be a hub of innovation on the continent, it pointed to the disparate nature of investment across the European Union, saying that the bloc should bring it together with France, Ireland, Germany, Iberia, and the Nordics. By doing so, EY said that it would enable venture capital funds, startups, established businesses, and health care providers to understand each other’s needs.
Tellingly, Poland saw a better year than many of its European compatriots in terms of FDI projects between 2022 and 2023. While countries such as Germany and Portugal saw falls of 12% and 11% in FDI projects in that time, Poland saw only a 3% decrease. The only positive changes in that time were Turkey (up 17%), the UK (up by 6%) and the Netherlands (up 7%).
