How to encourage business to invest

How can we increase Poland's investment attractiveness? What business incentives have the greatest impact on attracting capital? What else can be done? These were discussed by the participants in the panel 'Building an investment incentive system'.

According to the Ministry of Development and Technology, after the first half of the year, 213 decisions on support were issued within the Polish Investment Zone (+5% compared to the first half of last year) for more than PLN 5.7 billion, and around 1.6 thousand new jobs are to be created. "This is very good and important data that makes us happy," said Krzysztof Paszyk, Minister of Development and Technology.

He added that there is a need to build an ecosystem of companies around the zones, which will soon cease to exist in their current formula. It is necessary to look for tools and incentives for domestic SMEs to invest. “We will work with the zones to make their performance even better."

He recalled that work on the deregulation package was underway. He cited legal stability, the rule of law and access to an independent judiciary as key incentives for investment. “Without this, we can forget about investment," he said. “There is a great deal to fix. This includes the issue of economic lawmaking. We will be moving away from strictly regulated rules." He criticised the ideas of a four-day working week or restrictions on hiring foreigners.

“We are a ministry of entrepreneurs. Without them, there will be no economy, and without it, there will be no enrichment of society."

Paweł Gancarz, Marshal of the Lower Silesian Voivodship, made a point of remembering the problems as seen from the municipal level. It is the local government officials who meet with investors and it is them who bear the responsibility and undertake the entire effort of conducting the process – but also the benefits of the attracted investments. The state, in turn, should assist municipalities in this.

Wojciech Smoliński, President of "INVEST-PARK" Wałbrzych Special Economic Zone, declared that the zones ‘will listen to business, as it is business that shows the directions of development, and also to the social side, NGOs, business environment institutions’. This corresponds with the search for investment incentive opportunities. One of the most important is comprehensive site preparation. This is also a task for local authorities, and their capacities in this area should be supported.

Rafał Dutkiewicz, President of the Employers of Poland, spoke about what incentives business expects. “We have three factors of production: capital, labour and natural resources. The latter must be approached with a high degree of care, while labour resources are also shrinking. There are approximately 17 million people working in Poland; in a year, there will be 1,000 fewer people on the labour market on each working day. This means a shortage of people for relatively simple activities."

The best way to generate capital and build economic growth and development in a country is through investment. Business in Poland invests around 17% of its GDP, while in the region the average is 23–25%. The difference translates into approximately PLN 300 billion per year.

“If we do not deal with the blockade on investment, we will not be able to grow, build the economy and prosperity. There is no other way. This certainly does not include a four-day working week, which will result in lay-offs and a decrease in Poland's competitiveness,” says the president of the Employers of Poland.

Mariusz Wawer, Director of Government Relations and ESG at 3M in Poland and the region, emphasized that business expects, above all else, regulatory stability. Whatever the regulations are - they should be predictable. Aneta Wójcik, president of the Lek company, part of the Sandoz group, spoke in a similar tone.