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09
January 2024

Is Poland a New Hub for Business?

The economy of Poland has long lain in the shadows, however, over the last few years, its true potential has been unlocked, raising eyebrows and turning heads.

Timeline

25 Feb 2022: NATO issues a statement ending with the words, “Our commitment to Article 5 of the Washington Treaty is iron-clad. We stand united to protect and defend all allies”.

29 Jun 2022: Électricité de France signs cooperation agreements to become a strategic partner in Poland’s nuclear programme.

28 Jul 2022: The company responsible for the construction of Poland’s new “mega airport” signs an agreement for its design for EUR 1.5 billion.

07 May 2022: Google announces an investment of USD 700 million in the purchase and further development of the Warsaw Hub.

02 Nov 2022: US giant Westinghouse Electric becomes an official partner in Poland’s new nuclear reactor programme.

12 Dec 2022: Mercedes-Benz announces it will invest over EUR 1 billion to establish an electric van manufacturing facility in Poland.

17 Jan 2023: The Polish Trade and Investment Agency (PAIH) proudly shares that with its support, foreign companies invested over EUR 3.7 billion in Poland in 2022.

23 Jan 2023: The European Bank for Reconstruction and Development (EBRD) announces that it invested a record amount in Poland in 2022 – EUR 990 million.

27 Feb 2023: Volvo details plans to open a new tech hub in Poland, responsible for developing complete and key features on Volvo electric cars.

23 May 2023: Visa Inc. details plans for a new global technology and product hub in Poland to support its development model for innovation.

16 Jun 2023: US tech giant Intel announces it will invest USD 4.6 billion to build a new semiconductor chip assembly and testing facility in Poland.

Future

American companies have recognised Poland’s potential, investing over USD 26 billion in the country. Amazon, IBM, and Dell have been key contributors to Poland’s job market, creating numerous employment opportunities since 2012; Amazon’s investment alone exceeds USD 4.5 billion, and both Google and Microsoft have pledged a combined USD 3 billion investment in Poland, demonstrating their confidence in the country’s tech capabilities.

The exquisite talent infrastructure and booming business environment in Poland have set the economy on a stellar trajectory with investors clamouring for more. While the country is no longer under the radar, there is still a whole constellation of opportunities waiting to be grasped.

Published by GGI FYI Autumn 2023