AmCham March Monthly Meeting

At the Monthly Meeting in March, AmCham members met Grzegorz Piechowiak, Secretary of State, Government Plenipotentiary for Foreign Investment from the Ministry of Economic Development and Technology, to discuss the investment climate in Poland vis-a-vis such issues as increasing inflation and interest rates, geopolitical tensions and global energy crisis. 

In his address to AmCham, Grzegorz Piechowiak acknowledged the chamber's important role in forging economic and business links between Poland and the US, which have intensified in recent years. According to data, the 2022 US-Poland trade was a record high reaching USD billion 27, a significant growth from USD 19.5 billion in 2021. 

The speaker said that direct investments and reinvestments by US companies in Poland boost the potential of the Polish economy by creating highly innovative companies, utilizing the Polish R&D base and creating well-paid and sustainable jobs. 

The speaker noted that since 2020, the inflow of foreign direct investment has been on the rise year-on-year. In 2021, with nearly EUR 25 billion it reached record high levels and was the fourth biggest FDI inflow among EU countries.  

In 2022, despite the war in Ukraine, Poland continued to attract FDI and its inflows have not abated. According to data from the Polish Investment and Trade Agency (PAIH), 2022 was the second-best year in a row in terms of the amount of FDI processed by the agency with foreign investors committing Euro 3.7 billion worth of FDI, a EUR 200 million more than in 2021 and EUR 1 billion more than in 2020. The FDI projects aided by PAIH at present are expected to deliver 14,000 new jobs to the Polish economy, mainly in innovation technology. This is in sync with the government strategy aiming to boost the competitiveness of the Polish economy and develop its sectors such as automobility, energy, and hydrogen-based energy generation, and manufacturing to facilitate the emerging new global supply chains. 

The speaker said that the Polish government has created a number of incentive mechanisms for foreign investors, which aim to attract new ones and help the incumbent re-invest in Poland. This year, the government will focus on creating even more investment opportunities in such areas as energy security, diversification of energy sources, and green transformation. 


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