The Polish economy, which has been notably recognised for its international long-term success, has unveiled it’s continued growth in a variety of developing sectors.
The country’s electronics industry has emerged in recent years as one of the most significant on the continent. Poland is home to many leading producers of electronics and home appliances, including producing 50 percent of Europe’s highly popular LCD-screen TVs. Foreign investment has taken place in every area of the electronics market from computers to telecoms, components and also audio video. Dependable employees, brilliant universities and a strategic location make Poland the most competitive choice in the region.
Domestic appliance market
Located in the heart of Europe, Poland is an excellent location for domestic appliance factories. The greatest assets of the domestic appliance market in Poland are investment incentives, strong support from the local government, sites prepared for investment and highly skilled workers. Another advantage of Poland is its excellent geographical location. It’s geographical placement makes Poland a highly attractive place to develop production assigned for export. Additionally, there is a large domestic market, which equates to over 14 million households.
The renewable energy sectors bestow an offering of many investment opportunities. Poland has set ambitious targets for 2020 in line with EU regulations: to increase the proportion of energy from renewable sources in final energy consumption up to 15.5 percent in 2020 (19.3 percent for electricity, 17 percent for heating and cooling, 10.2 percent for transportation fuels). The involvement of both foreign and Polish capital has resulted in the rapid development of wind energy and the increasing use of biomass for energy purposes.
Poland has one of the largest automotive sectors in Europe. Current and potential investors are drawn by a productive and cost-effective labour force, proximity to major Original Equipment Manufacturers and high-end manufacturing quality. In addition to the motor vehicle assembling plants of General Motors, Fiat and Volkswagen, Poland is home to producers of engines, engine components and wide range of automotive parts. With the €800 million greenfield investment in a new Volkswagen Crafter manufacturing plant in Wrzesnia, even more momentum will be given to drive this sector’s growth. Recently, Mercedes-Benz and Toyota announced investment plans in Poland worth €500 million and €150 million respectively.
With a century-long tradition of aviation and over 80 years of aerospace industry, Poland stands out as one of the optimum locations for development and fulfilment of aeronautic projects in Europe. The industry covers aircraft and aircraft parts production, maintenance and overhaul, scientific research and pilot training. Thus, it is not coincidence that a number of multinational aerospace corporations are present in Poland and over 90 percent of their production is exported. The country has also a strong foundation of small and medium-size enterprises comprised by a wide chain of suppliers for aerospace giants such as Boeing, Airbus and Embraer.
Civil engineering and construction traditions have a huge impact on the Polish economy. Real estate is one of the leading investment sectors that combines modern technologies with building materials and the supply chain of construction machines, giving a flexible but highly profitable approach to new direct investments in this sector.
Business Services Centres
International corporations view Poland as a good place to establish their global business support operations, such as finance and accounting, HR support, IT, supply chain and customer services functions. Poland has already become the European centre of Base Station Subsystem, hiring approximately 212 000 skilled employees and providing support in more than forty languages. The success of Business Process Outsourcing and Shared Service Centre firms has resulted is growing investor interest in much more complex operations: Centres of Excellence (CoE) and the knowledge process outsourcing (KPO) sector. KPO involves higher-end analytics and analysis, providing organisations with strategic and tactical decision-making tools. Factors influencing investors’ decisions relating to the location of KPO investments include: the availability of highly qualified human resources, infrastructure, telecommunications and technological support, as well intellectual property and data security regulations.
Polish is renowned for its scientific and technical capabilities with the largest global corporations locating their R&D centres in the country. There are 182 operational research and development centres in Poland, employing 33 000 Polish scientists and specialist. The majority of them work for the telecommunications, financial, automotive, chemical, aviation, food and IT sectors. These centres are mostly located in large urban areas with extensive academic facilities and developed infrastructure thus catering attractive living conditions for potential employees. The R&D expenditures in the years 2014-2020 will be supported by EU founds of €7.6 billion.
Industrial design is medium of aesthetic values. It provides promotion of symbols, signs and traditions that help define the identity of countries and nations. It also intensifies economic economics relations and is a vital incentive for current and future trade exchange.
Poland has long-standing relationship with the fashion industry and textile manufacturing. Creativity, innovation and modern textile factories make Poland second to none in terms of being a place to initiative fashion start-ups or extend production lines of already existing brands. The country has a strong presence in Fashion Weeks across the world.
The Polish industry is developing extremely fast. Since the political transition, the production of this sector has increased by over 60 percent. Presently, Poland is the economic leader of Central Eastern Europe and the fourth largest European manufacturer of furniture. Almost 90 percent of the total furniture production is exported. It makes the sector the country’s biggest net exporter with €5.2 billion of surpluses that no other Polish industry has ever reached. Moreover, Poland is one of the world’s biggest exporters of upholstery furniture for living rooms and dining rooms as well as furniture accessories.