Inversió estrangera directa (IED) a Polònia

FDI in Figures

Poland figures among the most attractive countries in Europe in terms of FDI. According to UNCTAD's World Investment Report 2024, FDI inflows to Poland reached USD 28.6 billion in 2023 (from USD 31.4 billion one year earlier), making the country the 14th-largest recipient worldwide. The largest direct investments came from the Netherlands, the UK, the U.S., Spain, and Germany, mainly due to high reinvested profits and equity transactions. The biggest capital outflows went to Italy and China, driven by debt repayments. At the end of the same period, the total inward stock of foreign investments stood at USD 335.5 billion. According to data by the National Bank of Poland (NBP), the largest investors in the country in terms of stock are the Netherlands (18.8%), Germany (16.6%), Luxembourg (12.7%), France (7.2%), and Spain (5.4%); with investments directed mainly towards manufacturing (29.3%), wholesale and retail (13.9%), financial and insurance activities (13.2%), professional, scientifical and technical services (10.4%), and real estate sectors (9.1%). According to the latest figures from the OECD, in the first half of 2024, FDI inflows to Poland totalled USD 7.6 billion, down by more than half compared to the same period one year earlier (when FDI inflows stood at USD 18.1 billion).

Poland’s main assets are its strategic position, large population, European Union membership, economic stability, skilled labour at a competitive cost and a fiscal system attractive to businesses. Moreover, the country has a number of dynamic Special Economic Zones, and the government founded the Polish Investment and Trade Agency (PAIZ) to improve conditions for FDIs. Poland’s Plan for Responsible Development prioritizes investment in eight industries: aviation, defence, automotive parts, shipbuilding, IT, chemicals, furniture, and food processing. However, Polish law limits foreign ownership of companies in selected strategic sectors and restricts the acquisition of real estate, especially agricultural and forest land. Furthermore, a new law came into force giving the President of the Office for Competition and Consumer Protection the authority to review FDIs by non-EEA and non-OECD investors on the grounds of public security, order and health. In 2022, Poland widened and extended its controls on new foreign direct investments for another three years, until mid-2025. Overall, the Polish business climate is good and the country ranks 53rd among the 180 economies on the 2024 Corruption Perception Index and 42nd out of 184 countries on the latest Index of Economic Freedom.

What to consider if you invest in Poland

Strong Points

Strong points for FDI in Poland:

• Growing economy
• Central geographical location in the heart of Europe
• Multilingual workforce, qualified, able to export trades (at a low cost) and whose productivity is growing rapidly
• Stable banking sector and a controlled currency
• A healthy and resilient economy even during economic crises
• Unlike other Central European countries, its population does not face over-indebtedness.

Weak Points

Disadvantages for FDI in Poland:

• Rigidity of the labour market
• Slow administrative procedures (120th country for the speed of starting a business according to the World Bank)
• Current account in deficit 
• The adoption of the euro initially planned for 2012 has been jeopardised by the financial crisis, thereby delaying its beneficial effects on the economy.
• The relatively unstable political landscape slows down the implementation of necessary reforms.

Government Measures to Motivate or Restrict FDI

Poland’s well-diversified economy reduces its vulnerability to external shocks, although it depends heavily on the EU as an export market. Poland is one of the most attractive locations for foreign investments.

Regional aid is the most popular type of aid for companies carrying out investment projects in Poland. It is granted only for “initial” or “new” investments, which are generally defined as investments related to: setting-up of a new establishment; extension of the capacity of an existing establishment; diversification of the output of an establishment into products not previously produced. The maximum level of aid a project can receive depends on the size of the company and where in Poland the project is to be located.

Regional aid available in Poland can be granted in different forms, such as corporate income tax (CIT) exemption in so-called special economic zones (SEZ), government grants (support from domestic budget) and cash grants or loans from EU funds.
The government grant (Multi-Annual Support Programme – MASP) is a regional aid scheme financed by the Polish government and dedicated to supporting large investments in the so-called “priority sectors”: automotive, electronics, aviation, biotechnology, modern services (particularly IT centres, BPOs and telecommunications) and R&D;
In the case of companies registered in Poland, cash grants from EU funds can be obtained for R&D, including: Innovative new investments, which use new technologies; Energy efficiency projects; Production of energy from renewable sources.
State aid can be granted for R&D projects that carries out fundamental research; industrial research or experimental development. Entrepreneurs conducting activities in the area of research and development may benefit from an income tax relief.

Poland does place limits on foreign ownership and foreign equity for a limited number of sectors.  Polish law limits non-EU citizens to 49 percent ownership of a company’s capital shares in the air transport, radio and television broadcasting, and airport and seaport operations sectors.  Licenses and concessions for defense production and management of seaports are granted on the basis of national treatment for investors from OECD countries. The Law on Freedom of Economic Activity (LFEA) requires companies to obtain government concessions, licenses, or permits to conduct business in certain sectors, such as broadcasting, aviation, energy, weapons/military equipment, mining, and private security services.

In May 2020, the Polish government approved regulations aimed at making it difficult for investors from outside the European Union to take over at low cost companies that Poland considers strategic to its economy. The regulations were part of a government rescue package worth more than PLN 300 billion to help the country survive the new coronavirus pandemic and the resulting economic crisis.

The Polish Investment and Trade Agency (PAIH) supports both the foreign expansion of Polish business and the inflow of FDI into Poland.

Bilateral investment conventions signed by Poland

Poland has signed more than 60 bilateral investment treaties. For more details consult this link.