Polish economy – the story of a major transformation
08.07.2022

International trade and commerce factored heavily in Poland’s economic growth and prosperity since its political transformation in 1989. Since then Poland has harnessed change for competitive advantage and built the largest Central European economy by responding to key global challenges.
After transformation, as Poland became more integrated into global supply chains, it continued to embrace foreign investments as a source of capital, growth and knowledge, making great use of various technological transfers and an emerging R&D base. All of this contributed to its prominent position amongst the most attractive FDI destinations in Europe. Between 1990-2019, Poland recorded one of the highest GDP per capita growth rates in the OECD and EU countries, and was the only economy in Europe to stave off the recession in 2008. It should come as no surprise then that in the years 1990 – 2018 Polish economy grew by 381%.

From local to international
Here are examples that illustrate the transformation that Poland has undergone over the last three decades. Nowadays, Poland is a well-known hub for electromobility. After Ochang in South Korea, Naning in China, Holland and USA, LG Chem chose Wrocław to be a part of its global production system. 68 km from there, in Jawor, Daimler AG, one of the world’s leading car manufacturers, launched its engine production facility, specialized in the production of four-cylinder engines. Korean SKC Group, in turn, chose the city of Stalowa Wola, near A4 expressway and Rzeszów-Jesionka Airport, to be the centre of its European base of operations. Each year Poland attractiveness increase in terms of the FDI. Including the above mentioned examples, in 2021 Poland attracted 423 new FDI projects, many of them in STEM and green energy fields.
But there is a much larger story behind this success. Stalowa Wola is part of the Tarnobrzeg Special Economic Zone, one of Poland’s 14 special economic zones spread across the country. This, as well as the other Zones, are aided in their mission and endeavours by the Polish Investment and Trade Agency, which cooperates with both local and international institutions. Through its network of over fifty Foreign Trade Offices, PAIH promotes Poland and the Polish economy abroad, supporting export from the country and attracting FDI. Foreign investors are provided with reviews of macroeconomic and microeconomic factors and cost drivers at each location. Investors, who decided to visit Poland, are supported by a Project Manager that will arrange all necessary meetings in public administration and with owners of selected sites, as well as prepare itinerary of a trip. Large multinationals like LG Chem, smaller enterprises and entrepreneurs alike can rely on the PAIH’s professional consultants helping them find partners, suppliers or an adequate site for their investment. Currently, PAIH is providing assistance in multiple projects across a variety of sectors, including BSS, electromobility, automotive, food processing, R&D, and others. Entrepreneurs from South Korea, USA, Belarus, Germany and China, constitutes the biggest group of beneficiaries of the projects supported by PAIH.

Since its inception, PAIH has finalized projects worth over 30 billion EUR in total, which in turn contributed to the creation of over 250 thousand new workplaces. Since 2016, the agency had supported dozens of investment projects in the electromobility sector alone worth more than 6 billion EUR. Thanks to these projects, over 13,000 jobs for highly qualified workers and engineers were created.
Why Poland?
Poland is the largest country in Central and Eastern Europe and the 6th largest in Europe. 60% of its the population is at working age, which means a workforce of 23 million people. Human capital and cheap skilled labour costs attract foreign entrepreneurs to invest in Poland. Each year Polish universities turn out 37,500 engineers, which places us second behind Germany in the EU. Talented and well-educated employees as well as a healthy environment for start-ups attracted the most Venture Capital investments in the CEE region. It is worth mentioning that Poland has one of the highest levels of public support for new investments, which can reach up to 70% of the investment costs!

Thanks to the country’s stable, predictable and diversified economy, Poland was the only country in Europe to avoid the financial crisis of the years 2007 – 2008. Polish companies figure strongly in the European production chains. Owing to its strategic location in the heart of Europe, Poland provides excellent connection to both Eastern and Western countries, which translates to unlimited access to the EU market of 446 million inhabitants that can be reached overland, by flight or freight.
As part of a larger EU budget for the years 2021-2027, Poland will be spending 8.6 billion Euros on development of research and innovations. This programme is going to follow five major thematic objectives set out by the EU, focussed on smarter, greener and carbon-free Europe in accordance with the plans for future sustainability. As the cooperation between the business and science strengthens, support for large investments in the so-called “priority sectors”: automotive, electronics, aviation, biotechnology, and modern services: IT centres, BPOs and telecommunications will continue to increase. These also happen to be some of the sectors Poland is most renowned for.
Are you thinking of investing abroad? Why not invest in Poland? Our investment team would be delighted to help you and there is a plethora of investments incentives waiting for you! Get in touch with PAIH via the contact form at: https://www.paih.gov.pl/contact.
- Everything
- News (269)
- Events (163)
- Get Support (83)
- Polish companies (1105)
-
Article
An Investment Agreement: safe guard the tax implications of your investment
See the benefits of an Investment Agreement and how to apply
ArticleThe Polish chemical sector – exports drive development
The Polish chemical sector is growing thanks to the export of cosmetics and household chemicals
-
Institution
The Investor Tax Service Center
The Investor Tax Service Center is a unit operating within the Ministry of Finance
InstitutionPolish Investment and Trade Agency (PAIH)
The Polish Investment and Trade Agency (PAIH) is the partner of first-resort for entrepreneurs when …
-
"ELTEM" SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ
Industrial machinery and mechanical appliances and parts thereofAgricultural machinery and parts thereofOther instruments and apparatusElectromechanical appliances and parts thereofLocomotives, rolling stock, special vehicles and parts thereofAerospace industryVehicle parts (excluding engines)Show allWe offer a comprehensive service for the design and manufacture of wiring for vehicles and machinery with various levels of complexity and variety of requirements. No matter whether you need a design from scratch or whether you provide a specification, we are glad to take on this task (without needing any specialist documentation).Our offer also includes the design and manufacture of electronics, adapted to your individual requirements.
Mitmar Sp. z o.o.
ServicesBusiness servicesFoodLive bovine animals and beefLive poultry and meat of fowlsLive swine and porkPrepared meat and sausagesOther meats and live animalsFish and seafoodAnimal foodOther food productsOther goodsShow allGood day! Dear colleagues, our company is a frozen meat supplier. We produce and debone chicken, pork and beef meat. Our company belongs to “Pamapol Group” – which is listed on the Warsaw Stock Exchange- producer of caned food and ready to eat meals! Another company from our group – “WZPOW Kwidzyń” is a supplier of frozen vegetables for retails and industry! More info about our company You can find in below links: www.mitmar.pl www.pamapol.com.pl www.warzywakwidzyn.pl
Studnie24 Wiercenie studni głębinowych
ConstructionRenovation and construction materialsMeasuring instruments and apparatus and parts thereofShow allWe specialize in drilling deep water wells reaching depths of up to 200 meters. This allows us to provide access to clean, high-quality water from deep aquifers, regardless of local geological conditions. Our services also include boreholes for heat pumps, offering a modern and eco-friendly solution for heating buildings. We deliver each project comprehensively – from technical consulting and selecting the right equipment, through drilling, to the installation of pumps and full system commission
Porady prawne online – prawnik online – LegalHelp
Business servicesShow allLegalHelp is a modern online legal advice platform designed to make legal support accessible, fast, and convenient for everyone. Our team consists of experienced lawyers and legal advisors who specialize in various branches of law, including civil, family, criminal, business, real estate, and labor law. With LegalHelp, you can consult a qualified lawyer online via secure video calls or live chat, eliminating the need for time-consuming office visits and complicated paperwork…
The Export Promotion Portal uses cookies to make it easier for users to use the website and for statistical purposes. If you do not block these files, you agree to their use and saving in the memory of your computer or other device. Remember that you can change your browser settings to block the storage of cookies. More information can be found in Privacy Policy and Terms and conditions.