Poland

Key Facts
Local TimeGMT+1
LanguagePolish (English widely spoken)
Local currencyZloty (PLN)
Dialling code+48
GDP 2008:US $567.4bn; US $17,800 per capita
Main ExportsMachinery, transport and food
Main ImportsMinerals, fuels, lubricants, chemicals and intermediate manufactured goods.
Main Trading PartnersGermany, Italy, France, UK and China.

Invest in Poland...?

At a recent investment forum held at the Hyatt Hotel Warsaw, a question was posed as to whether now would be a good time to invest in Poland when the world is in the middle of financial meltdown.

After spending 2 days listening to various government ministers, advisors, consultants from some of the big four, I can honestly say that Poland is in a unique position to answer YES. Their economy has just posted a growth figure of 1.9% against Europe’s -4.5% for the first quarter of the year with 0.8% growth in GDP.

To quote Professor Danuta Hubner (prominent Polish economist) “without investment it will be impossible to get out of the current crisis”. As a country looking to catch up with the West, I was impressed with the amount of support and focus to help Entrepreneurs either start or develop their business. I believe there is a real opportunity for franchising in Poland which will help catapult Polish companies forward ready for the 2012 championships and beyond.

The SME has always been overlooked by governments and banks, yet figures always point to the fact that SME companies represent a majority of all tax and employment in any country. The current crisis is helping many SME companies to raise funds for expansion, as the big banks look at the SME as the less risky investment. I believe Poland would be a good market for any company looking to expand or outsource. Dell chose Poland as a centre of excellence because of its geographic location and excellent skilled work force, but many companies are realising that Poland’s 40 million population represent an amazing opportunity.

The current investment report for Poland will highlight all the opportunities available within the country, and will look to remove the façade that many Westerners see as Poland. As a new member of the EU gentleman’s club, and a country with no cultural differences associated with many emerging markets, I believe we are starting our reports on the new EU member states with the Jewel in the Crown.