2
Investing in Poland 2014
I
s recovery on its way? That is the question on everyone’s lips as Investing in Poland 2014 goes to press.
Andrew Kureth Editor-in-Chief Warsaw Business Journal Group
To be sure, Poland continues to fare better than many of its European peers, but the extended sovereign debt crisis on the continent has finally taken its toll. In 2012, Poland’s gross domestic product grew at a pace of 1.9 percent and in 2013 it will probably grow no faster than about 1 percent – its slowest rise in decades. The slowdown has resulted in high unemployment that has caused dissatisfaction with the government to fester.
But Poland could be turning the corner. The macroeconomic data from the second half of 2013 point to a tentative and slow – but steady – rebound. Unemployment was abating, wages were rising faster than expected, as was retail trade. Poland’s foreign trade figures were positive as well, and indicated an export-led recovery was underway. Poland’s manufacturers were also showing signs of reviving business.
Foreign investment
When it comes to foreign investment, Poland in 2013 looked set to improve on 2012’s dismal numbers. Foreign direct investment in 2012 reached a measly €5 billion, a 63 percent
Foreword
drop from the €13.6 billion foreign investors pumped into the country in 2011. Much of that drop can be put down to the difficulties in Europe in 2012, and Poland is poised to benefit when investors turn their attention back to the continent. The country still presents an attractive combination of incentives for foreign investors. Poland has a large, young, ambitious and well-educated labor force. It boasts both strong technology clusters and agricultural capacity. It offers quality, low-cost manufacturing and a central location from which to ship production. But on top of that, there is a plethora of tax breaks and direct grants for investors to tap into. Fourteen special economic zones and a myriad of industrial and technology parks mean there are plenty of attractive locations with the right mix of transportation, potential partners, and resources. The government has extended the lifetime of the special economic zones – they will now remain operational and offer tax breaks and other incentives through at least 2026. So Poland remains one of the most attractive investment locations not only in Europe, but globally. You may feel the same way, which is why you’ve picked up Investing in Poland 2014. This publication is intended to provide all of the resources you, as a potential investor in Poland, may need. Inside, you’ll find profiles of Poland’s 16 voivodships (something like provinces), and its major cities, as well as their various resources, investment incentives, major investors, local
Outsourcing to build a competitive advantage The outsourcing services market has been developing rapidly in recent years. The reason for this is the inexhaustible interest in offers directed toward rapidly developing organizations, as well as a growing understanding of the benefits of outsourcing.
level skills than those in your own firm, while at the same time giving you access to the outsourcing company’s exceptional resources. All this allows for the generation of significant cost savings. Among those who have experienced the benefits of outsourcing, more than 70 percent pointed to the cost reduction that is visible in long-term cooperation.
Due to changing economic conditions, managers are paying more attention than Kinga Lasota-Kielan they had previously to various forms of Manager, optimization, which undoubtedly include A&P Outsourcing outsourcing. In terms of the growth of its Grant Thornton outsourcing market, Poland ranks second in the world after India. Interest in separating financial and accounting functions from the core business has risen 13 percent compared to last year, as an increasing number of companies say they are willing to work with a provider of outsourcing services. Studies show a significant increase in interest when it comes to outsourcing accounting services, as well as payroll and human resources.
The most important advantage when choosing an outsourcing provider turns out to be a high quality of services, comprehensive service and the ability to cede responsibility to the outsourcing firm. It is also important that a firm can gain access to the most modern technology available, which is reflected by a significant increase in workflow efficiency and e-outsourcing. This is appreciated in particular by foreign companies operating in different time zones, as well as companies that are looking for paperless accounting.
Choosing the right provider allows you to take advantage of higher-
Grant Thornton Frąckowiak sp. z o.o. sp. k. Malta Office Park, Bud. F, ul. abpa A. Baraniaka 88 61-131 Poznań % +48 61 625 1100 6 +48 61 625 1101 www.grantthornton.pl
BROUGHT TO YOU BY GRANT THORNTON FRĄCKOWIAK SP. Z O.O. SP. K.