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Foreign Investments to create similar number of jobs in 2015 vs. 2014

Wyślij Print Pobierz added: | 2015-04-16 11:46:03

Foreign Investments to create similar number of jobs in 2015 vs. 2014

Foreign direct investments (FDI) will create a similar number of jobs in 2015 compared to 2014. At the same time, the value of FDI in Poland will be lower y/y, Poland's FDI promotion agency PAIiIZ estimates.

The character of incoming investments is changing: the number of investments in services is increasing at the expense of capital investments, PAIiIZ head if investment department Iwona Chojnowska-Haponik told PAP last December. Additionally, an increase in brownfield investments (where existing firms are developed) is observed at the expense of greenfield investments (where completely new ventures are launched). As a result, new investments are less-capital intensive.

"Due to these factors one may expect a decline in the value of foreign direct investments, but the number of jobs created should be close to the 2014 figure," Chojnowska-Haponik said.

PAIiIZ should assist investments worth ca. PLN 1 bln with the potential of creating some 8 thousand jobs, the official said citing conservative expectations.

"This would surely be a very good result, but it is a realistic goal," Chojnowska-Haponik said. "The decline in investment expected for 2015 results from 2014 high base, which was increased by a single large investment: Volkswagen's new production plant in Wrzesnia."

The total value of FDIs in Poland may reach up to EUR 10 bln, the official estimates.

"The percentage of all investments in Poland which go through PAIiIZ is about 10-15%, so in an optimistic scenario the inflow of EUR 10 bln worth of FDIs is possible," Chojnowska-Haponik said.

The structure of investments in 2015 will be similar to last year's: the automotive, chemicals and aviation industries will maintain high level of interest in investing in Poland. Additionally, an increase of investments in the agriculture and food sector is expected. On the other hand, investments in consumer electronics are expected to decline.

Over EUR 1.8 bln was invested via PAIiIZ in 2014, a twofold increase compared to 2013. This was achieved thanks to carmaker Volkswagen's investment in Wrzesnia, dubbed the biggest industrial investment in Europe in the last decade.

In November, construction of Volkswagen's new production plant was launched in Bialezyce near Wrzesnia. Works are set to conclude in H2 2016 and the carmaker will create 3k jobs. The investment in a new plant, where Volkswagen's van VW Crafter will be produced, was announced in March 2014 in Poznan. Since then, works on the investment begun. The 220 hectare site will include a car-body production plant, a paint shop and an assembly plant. Target output is 85 thousand vans per year.

PAIiIZ ended 2014 with 54 closed investments. Polish and foreign firms serviced by the agency launched investment which may create 9k jobs in the future.

The average value of a single project conducted by PAIiIZ stands at EUR 35 mln. Most projects are originated in the business process outsourcing (BPO) industry (18), automotive industry (11) as well as R&D (6). As far as the source of capital is concerned, most investments came from the US (15 projects), Germany (12) and Sweden (4).

At end-January, PAIiIZ was assisting 162 investment projects worth PLN 3.01 bln, which may create 29k jobs. The biggest number of investors come from the US, Germany, France and Japan. The BPO sector (34 projects), automotive (31) and R&D sector (16) invariably dominate the project list.

In December alone, PAIiIZ successfully concluded three investment projects worth a total of EUR 29.8 mln, capable of creating 1,400 jobs.

Global FDI flows increased by 9% in 2013 reaching USD 1.45 trillion compared to 2012, the year of the second phase of the financial crisis. The flows were lower by 25% compared to the pre-crisis average from the years 2005-2007, PAIiIZ data show. Mid-term forecasts point to a moderate FDI increase in the following years: USD 1.6 trn in 2014, USD 1.74 bln in 2015 and USD 1.85 trn in 2016.

Globally, five most attractive industries for investors are: machinery, construction, food processing, business services and telecommunications.


Source: Ministry of Treasury

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