Value of FDI hits record high in 2019 - investment agency

One-third of concluded investments concerned modern services for business, including the development of R&D centres, said Ciurzyńska. Grzegorz Momot/PAP

Poland enjoyed a robust growth in the value of foreign investments (FDI) serviced by the Polish Investment and Trade Agency (PAIH) in 2019.

Although last year the number of FDI projects fell to 56 from 71 in 2018, their overall value grew by one-third year on year to a record high EUR 2.9 billion, according to data released by PAIH.

The 56 investment projects implemented in 2019 may generate up to 11,800 new jobs.

Acting PAIH CEO Grażyna Ciurzyńska has said that majority of investment dealt with high technologies which in turn translated into "highly paid jobs, transfer of knowledge and, in effect, improvement of the competitiveness of Poland's economy."

One-third of concluded investments concerned modern services for business, including the development of R&D centres, said Ciurzyńska.

Almost half of the projects serviced by PAIH in 2019 constituted reinvestments. Such projects were implemented by, among other companies, Toyota and Peugeot Societe Anonyme (PAS).

The highest amounts of funds were spent on investments in the electric mobility sector (EUR 2.1 billion), the automotive sector (EUR 331 million) and the production of household appliances (EUR 180 million).

US companies concluded the biggest number of projects (12). They were followed by companies from Germany (6), South Korea (5) and Japan (5). In terms of investment value, the cost of South Korean projects reached PLN 1.81 billion.

According to Ciurzyńska, PAIH is currently servicing some 200 investment projects with a total value of EUR 8 billion.

PAIH is responsible for 30 percent of all foreign investments in Poland.