Export | Import | Investments

Trade.gov.pl

Home > News > Polish economy – the story of a major transformation
Article

Polish economy – the story of a major transformation

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
  • Polish companies (636)
Advanced search
  • FABRYKA WKŁADÓW ODZIEŻOWYCH “CAMELA” SPÓŁKA AKCYJNA

    Textiles, fabrics and articles thereof
    Show all
    Textiles, fabrics and articles thereof
    Show all

    Camela S.A. Clothing Interlinings Factory is a Polish textile manufacturer with a long history in the textile market dating back 80 years. We fulfill orders for companies in various industries, including clothing, lingerie, footwear, furniture, automotive, medical, advertising, food, and uniformed services. Camela S.A. is also committed to maintaining high-quality standards, as evidenced by our Quality Management System in accordance with ISO 9001:2015. Our products are certified by Öko-Tex.

    Company’s profile Contact Visit Website

    EVRAFISH SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ

    Fish and seafood
    Show all
    Fish and seafood
    Show all

    Evrafish is a company based in Brusy, North Poland and a w member of the PHR group. Established as a leading producer of canned fish, our company specializes in mackerel, herring, sardines, sprats, salmon, fish salads, and fish pastes. With a strong commitment to quality and innovation, we offer private label services and new product development (NPD) tailored to our clients’ needs. Our products proudly grace shelves in multiple markets worldwide, reflecting our dedication to excellence.

    Company’s profile Contact Visit Website

    CancerCenter.AI

    Medical equipment
    IT and Telecommunication
    Show all
    Medical equipment
    IT and Telecommunication
    Show all

    Faster cancer detection with Artificial Intelligence We support Oncology Diagnosis (pathology and radiology) in better and faster diagnosis using AI. We offer CancerCenterAI web platform (https://platform.cancercenter.ai) which provides modules to speed up and support the cancer diagnosis process. We also provide Manual Whole Slide Imaging Software (PathoCam) to save pathology images by using your own microscope equipment. Demo: https://www.youtube.com/watch?v=Kr5F9zio9vU

    Company’s profile Contact Visit Website

    “GERLACH” SPÓŁKA AKCYJNA

    Domestic appliances
    Glass and ceramics
    Show all
    Domestic appliances
    Glass and ceramics
    Show all

    For over 260 years, Gerlach creates the highest quality products for home application. For many years Gerlach has been presenting kitchen and dining rooms by offering quality cutlery, knives, cookware and accessories. Gerlach’s mission is to encourage people to come together around the table, providing quality products for food preparation, serving and dining.

    Company’s profile Contact Visit Website
  • GLI-THERM SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ

    Chemicals
    Tires
    Other goods
    Show all
    Chemicals
    Tires
    Other goods
    Show all

    Since 2012 GLITHERM has been a leading manufacturer of specialty chemical products, which are mainly used in equipment for generating energy from renewable sources, but also in the automotive, chemical, food and construction industries. Our own production line, the highest quality raw materials purchased directly from manufacturers, high quality standards and an interdisciplinary team of specialists responsible for product development are what distinguishes Glitherm on the market.

    Company’s profile Contact Visit Website

    DUDKOWIAK PUTYRA SPÓŁKA KOMANDYTOWA

    Business services
    Show all
    Business services
    Show all

    Dudkowiak Kopec Putyra Business Lawyers operates on Polish market of legal services since 1992 and specialized in providing legal services to foreign investors and international corporations in their investment ventures in Poland. DKP is particularly recognized in Poland for M&A and Corporate Law, Real Estate, Litigation, Arbitration and Employment Law. Regarding Industries – DKP is recognized in Aviation, FinTech, Food & Agriculture, Mining, IT and Software, Media & Entertainment.

    Company’s profile Contact Visit Website

    VEGELIO Renata Krysiak

    Fruit, vegetables, mushrooms and products thereof
    Other food products
    Show all
    Fruit, vegetables, mushrooms and products thereof
    Other food products
    Show all

    VegeLIO is FoodTech startup run by mother and daughter. We love freeze-drying process, especially freeze-drying vegeatables. We are creating and producing products made from freeze-dried vegetbales and herbs. We make sure that our products have balanced compositions, are 100%natural and very tasty! Our first product is VegeLIO-blend of freeze-dried vegetables and herbs with spices. It’s universal, wholesome, tasty and healthy product. We cooperate with Universities to create innovative products.

    Company’s profile Contact Visit Website

    PRODUCT PLUS Kozanecki, Słabolepszy spółka jawna

    Baked goods and sugar confectionery
    Show all
    Baked goods and sugar confectionery
    Show all

    Product Plus is the polish company and has been producing sesame snacks for over 35 years. We are the only one which decided to specialize in one cathegory of products -sesame snacks. Direct import of sesame seeds quarantees us safety of quality the same as workable costs. We have been cooperating directly with the biggest producers of sugar in Poland the same as glucose syrup . Our line and machines are strictly fitted for sesame production and 75% production’s capacity are the biggest private

    Company’s profile Contact Visit Website

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.