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I UNDERSTAND
English Section

Poland draws foreign investors despite pandemic: PM

22.04.2021 12:15
Despite economic woes caused by the coronavirus pandemic, Poland remains one of the world’s most attractive destinations for foreign investors, Prime Minister Mateusz Morawiecki said on Thursday.
Polish Prime Minister Mateusz Morawiecki.
Polish Prime Minister Mateusz Morawiecki.Photo: PAP/Radek Pietruszka

He cited data showing that Poland was the world's third-largest market for foreign direct investment (FDI) in February.

"Analysts from the Financial Times group - fDi Markets – note that Poland was the world's third-largest recipient of foreign direct investment in February!" Morawiecki said in a Facebook post.

He added that announcements about planned new projects were a cause for “plenty of optimism.”

Pomimo trudności spowodowanych pandemią Polska notuje kolejne sukcesy w przyciąganiu inwestorów. Analitycy z grupy...

Posted by Mateusz Morawiecki on Thursday, April 22, 2021

"Poland is among the top three destinations for long-term strategic investment, especially that coming from industries of the future," Morawiecki also said.

"On a geographical basis, the US was the leading FDI destination globally in February, garnering 104 projects with a total value of $5.1bn, followed by Spain (50; $3.7bn), Poland (30; $1.2bn) and the UK (30; $541m)," the FT's fDi Markets data service said.

Morawiecki hailed investment as “a driving force” of the Polish economy.

“Thanks to investment projects, we are returning to our pre-pandemic growth path," he wrote on Facebook.

Google CEO Sundar Pichai this month thanked Morawiecki for partnering in the launch of a new data centre in Warsaw. The US tech giant is expected to invest some USD 2 billion in the new cloud computing hub in the Polish capital.

Morawiecki said earlier this year that Poland was among the European Union’s most financially stable economies, with a high level of fiscal stability and low risk in terms of public finances.

He also said that Poland has weathered the coronavirus storm in a better condition than some of Europe's wealthiest economies.

Poland’s Central Statistical Office (GUS) reported on Thursday that retail sales in the country went up by a healthy 15.2 percent in March at constant prices compared with the same month a year earlier.

Meanwhile, industrial production in Poland rose by a robust 18.9 percent last month compared with March 2020, according to the state-run statistics agency.

The European Commission has said that Poland’s economy went into a recession last year due to the coronavirus pandemic, but the contraction was among the mildest in the EU.

Poland’s central bank last month updated its GDP growth forecasts for the country, saying it expected the economy to expand 4.1 percent this year and 5.4 percent in 2022.

(gs/pk)

Source: IAR, PAP, fdiintelligence.com