Poland seeks investments from India

Last Updated: Wed, Feb 27, 2013 16:10 hrs

Bangalore, Feb 27 (IANS) Poland Wednesday invited Indian investors to explore the emerging business and investment opportunities in the eastern European country.

Polish Deputy Economic Minister Dariusz Bogdan said: "We are the sixth biggest country in the European Union with a working age population of 26.6 million and a strong export performance (135 billion euros in 2011)."

The country has maintained sound policies, financial stability and competitiveness, the minister said.

"We are also well integrated with the EU in terms of trade and foreign direct investments," Bogdan said at an interactive session with chief executives of Polish and Indian firms here.

The Polish labour market was flexible with educated workforce, which is competitive in wages, Bogdan said.

A recent survey by global services firm Ernst & Young rated Poland as the second most attractive investment destination in Europe for the next three years after Germany and followed by Britain, Russia and France, Bogdan added.

"With sound policies, we have been able to keep our economy stable in terms of inflation, output gap and current account, which is covered by net FDI (foreign direct investment) inflows and EU capital transfers," the minister told executives at the session, organised by the Federation of Indian Chambers of Commerce & Industry (FICCI).

According to Polish information and foreign investment agency's board member Bozena Czaja, the United Nations Conference on Trade and Development (Unctad) ranked Poland as the sixth most attractive foreign direct investment (FDI) destination worldwide.

The 'Financial Times' has listed Poland at the third place globally in quality of processing industry.

"Within Poland, the eastern part is one of the fastest developing area, with lowest labour cost and one of the most eco-friendly regions in Europe. There is a huge potential for road infrastructure development," Czaja said.

Priority sectors in eastern Poland are food sector, furniture production, metal and machinery, aviation, yacht, tourism and back office operations (business process outsourcing).

The interactive session is a part of road shows the eastern European country is holding on 'doing business in Poland' with the participation of a visiting 14-member Polish business delegation, representing aviation, machinery and food processing industries.

Welcoming the Polish delegation, FICCI executive member and Axis Aerospace & Technologies Ltd. vice-chairman Sudhakar Gande said India was also a huge business opportunity for investors and exporters in Poland.

"You have the knowledge and expertise and we have markets, not just in India but much beyond our borders," Gande said on the occasion.

Apart from traditional items of trade, both the countries have to collaborate in developing aviation, renewable energy and healthcare facilities in India.

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