Foreign investment falling

Alan Heath
02-08-2002, 00:00

By the time this year is out it could well be that foreign direct investment has fallen yet again. PAIZ warns that Poland must be seen as an attractive destination through enforcing legal changes.

Last year foreign direct investment came to around USD7.1bn. In the first five months of this year only USD1.5bn came into this country, around USD800m less than in the same period of 2001.

The Economist Intelligence Unit believes that around USD6.9bn will flow into this country on average each year from 2001 to 2005. Once Poland joins the EU, investments are likely to increase. Analysts believe that in order to maintain GDP growth at a similar level to that of previous years around USD10bn is needed. That will not be happening this year.

Peter Driscoll, MD of PricewaterhouseCoopers thinks that five months is too little to speak of a trend although he agrees that the data is not impressive. He says that the investment process can take a long time and the situation could improve in the next few months. A law came into force in June granting PLN90m aid for investors. In theory this is great but in practice ist does not seem to be working.

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Podpis: Alan Heath

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Gospodarka / Foreign investment falling