Investment agency needs several laws and money

APA - Austria Presse Agentur
26-09-2005, 10:13

Poland: Warsaw (Puls Biznesu) – This year, Poland may reach the level of USD 10 billion (EUR 8.2 billion) of foreign direct investment inflow.

Poland: Warsaw (Puls Biznesu) – This year, Poland may reach the level of USD 10 billion (EUR 8.2 billion) of foreign direct investment inflow.

The investment agency PAIIZ is doing extremely well although for three years now, successive ministers have been trying to implement a law for this agency. Moreover, the bill concerning support for big investments was twice rejected by the Parliament. The government implemented a ruling in June rising the subsidies for investors creating new jobs (five times higher subsidy than before). Since that time, many new investors have decided to invest in Poland, including MAN, IBM, LG Electronics, just to mention a few. Each long-term programme, however, offered by the government, must be notified in the European Commission. Therefore, Poland needs a good law supporting big investors.PAIIZ should become a strong agency supporting investors, exporters and promoting Poland abroad.It is the system attractiveness of a country that decides about foreign investments: qualified and cheap workers, taxes, infrastructure, red tape. PAIIZ must be more efficient. Today, it lacks funds, has problems to employ and keep good employees, spends too little money to promote Poland in foreign media. The majority of its regional outlets are doing poorly. You can’t build an agency which would fully show Poland’s attractiveness without a proper budget, Michal Olszewski, an expert of the Polish Confederation of Private Employers commented.(USD 1 = EUR 0.825)

Poland/Economy/Investments/Elections

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Inne / Investment agency needs several laws and money