French investments to create 5,000 jobs in Poland - trade agency

Kamoji-Czapiński said French companies in Poland have mostly invested in the automotive, pharmaceutical, business services and aviation sectors. Leszek Szymański/PAP

The Polish Investment and Trade Agency (PAIH) has serviced over 20 investment projects of French companies in the last five years, thanks to which nearly 5,000 jobs are expected to be created, PAIH Director Jan Kamoji-Czapiński has told PAP.

Kamoji-Czapiński said French companies in Poland have mostly invested in the automotive, pharmaceutical, business services and aviation sectors. Among the companies investing in Poland is Michelin Group, which has spent over EUR 1 billion in the Warminsko Mazurskie province.

Kamoji-Czapiński added that French investors are among those who have had a very positive assessment of the investment climate in Poland for years, which is why they have decided to develop their plants and increase capital accumulation in the country.

The head of the PAIH office in Paris, Filip Mudyna, said that France is also an attractive investment location for Polish enterprises, due to the country's large population and the purchasing power of consumers being almost three times greater than in Poland.

According to PAIH, Poland has for years recorded a trade surplus with France, which is Poland's fourth largest export partner and the sixth in terms of imports. In 2018, the positive balance of exchange between Poland and France amounted to EUR 4 billion, and almost EUR 5 billion after 11 months of 2019.

PAIH also said that Poland sells to France mainly boilers, machinery and mechanical equipment, electrical devices and their components, and audiovisual recorders, among many others.

PAIH is responsible for approximately 30 percent of all foreign investment carried out in Poland, of which 80 percent are 'strategic' projects.