The Belarusian government with a newly appointed prime minister and minister of economy is trying hard to maintain economic stability and growth. The economy is highly sensitive to Russia’s economic climate and recent slump, combined with low revenues from oil export duties, poses a serious risk to Belarus.
ICT is one of Romania’s three top sectors. For example, the country’s software market was worth over €570 billion. According to Brainspotting’s Romania IT Talent Map, 2014, Facts and Figures, in 2014, the expansion of the companies was set to create approximately new 5,000 IT jobs.
Look beyond politics and notice the country’s economic potential is the Belarusian government’s message to potential foreign investors.
Even though the lack of certain necessary regulations, administration hierarchy and decision-making processes can be challenging, they can also be an opportunity to negotiate attractive individual incentives, benefits and privileges.
The European Union’s fastest GDP growth rate of over 4 per cent in 2013 and the recent adoption of the euro are not the only factors that make Latvia an attractive foreign direct investment destination. For example, Mexican CEMEX, one of the world’s largest building materials suppliers and cement producers, chose Latvia almost a decade ago.
In February 2015, fDi Magazine will publish its inaugural Polish Cities of the Future ranking for 2015/16.
“Polish cities have proven their attractiveness for foreign direct investment and are competitive on not just a regional but also a global scale,” says Courtney Fingar, Editor-in-Chief, fDi Magazine, the Financial Times Group. “Now it is time to see how they measure up against each other and what the respective merits of Poland’s many thriving cities are,” she adds.
Emerging Europe economies keep improving their business environment. According to the WorldBank’s Doing Business 2015 report, the number of CEE countries in the Top 50 has grown by 50 per cent since 2010. “That means these countries have introduced a number of regulatory reforms of business environment as seen by local firms,” says Marina Wes, Country Manager for Poland at the World Bank.
Warmia and Mazury, the land of forests and lakes, has an enormous economic and export potential. It is among the leading European producers of meat and meat products, natural and organic food, furniture, yachts and boats. Companies in these sectors operate successfully not only in the Polish market, but more importantly, in foreign markets. International giants like Michelin and Ikea have chosen Warmia and Mazury as their investment location.
Poland and Central and Eastern Europe are increasingly important for the UK. First, the region was one of the country’s eleven priority trade destinations. In August 2014, MP Daniel Kawczynski, was elected the new chairman of All-Party Parliamentary Group on Poland and Special Advisor to Prime Minister David Cameron on Central and Eastern Europe and on Eastern Europeans living in the UK.
An economic recovery is underway, despite recent developments in Ukraine. “Six years after the financial crisis we can finally say that the worst is over,” says Grzegorz Cimochowski, Lead Partner in Strategy Consulting in Central Europe, Financial Services Industry, Deloitte Central Europe.
For companies working within the aerospace industry, Avitation Valley in Mielec, Poland, is the place to be.
Companies like Yasa Motors Poland, set up in 2011, have already recognised the great potential of this cluster, as Managing Director Markus Müller says:
Poland has been through a lot in its history but things are looking up for a country so rich with resources, expertise and a skilled workforce. Already the sixth largest economy in the European Union, the country is going through a Golden Age, jumping to 45th place on the World Bank’s ‘Doing Business 2014’ rankings, for ease of doing business, putting the country ahead of Czech Republic, Slovakia and Hungary.
Continue reading Poland: Resilience and Renaissance