Poland is one of the fastest growing economies of the European Union. The country after the fall of the communist government adopted a policy of liberalisation and has subsequently transformed itself to a very successful market driven economy. Poland is one of the few countries in the European Union that showed aversion to the recent economic crisis when most of the other members where fighting the tides. Poland had the highest growth in GDP in 2009. The country has successfully evaded the economic crisis.
How Poland has Transformed to Trigger Investment?
Post communism Poland has transformed itself from a centrally planned or government controlled economy to a market based economy. There are a large number of corporations in the country. Poland has nearly 40% of the largest corporation (by revenue) in the region. The government has privatized small and medium size state owned enterprises which has led to a growth of a strong private sector. The private sector has successfully taken the onus of economic development of the country.
Poland has very strategic location with respect to business and industries. A company working in Poland has access to most of the economy of Europe due to its central location. The central location of the country provides it access to the markets like France, Russia, china and other export markets. These markets give it a access to a large consumer base of roughly 500 million people besides its own broad consumer base of around 35 millions.
The country also has a large base of educated and skilled man force trained in engineering and information technology which successfully satisfy the need of the industries.
Figures speak for themselves
Poland has attracted a large amount of foreign capital in the recent years. Foreign direct investment in Poland saw of jump of over 30% from its previous mask. The total investment is valued around EURO 13 billion. The figures itself tell a story of investors faith in the polish economy.
The government has unveiled an industrial policy which provides a large range of investment incentives. The special economic zones developed in the different parts of the countries provide suitable condition for investors to set up their base. These places offer tax exemptions, road connectivity, employment incentives besides other benefits. There are a total of 14 special economic zone in Poland.
The country has shown a tremendous potential in its automotive, chemical, R&D and electronics market, thereby motivating investors to invest in Poland. Poland also has wide opportunities in the tourism sector and adventure sports owing to its aesthetic wealth.