Investment in Poland in the times of crisis

09.03.2010

During a press conference “Investment in Poland in the time of crisis" organised on March 9th, 2010 by the Polish Information and Foreign Investment Agency in co-operation with ArcelorMittal Poland, participants discussed foreign investment in Poland in 2009 and talked about the world’s biggest steel producer’s achievements in Poland.

The crisis did not exert a negative influence on investment in Poland. Last year’s value of direct foreign investment accounted for 84% of the Poland’s FDI volume recorded in the pre-crisis 2008. Preliminary data published by the National Bank of Poland show that FDI inflow to Poland in 2009 reached EUR 8.4 billion. In 2010 the Polish Information and Foreign Investment Agency has been developing 118 investment projects, i.e. by over 40 more than at the same time last year.

From the left: Stefan Dzienniak, Member of the ArcelorMittal Poland Management Board; Sanjay Samaddar, President of the ArcelorMittal Poland Management Board; Sławomir Majman, PAIiIZ President; Iwona Chojnowska-Haponik, Director of the PAIiIZ Foreign Investment Department.

In fact, Poland was the most effective European country in tackling the economic downturn. The country did not cease to provide investors with a product which has currently been in short supply i.e. economic stability and managed to classify high in the rankings of attractive investment destinations, also to investors in the steel industry. Moreover, positive changes are expected in the steel branch in the next few years Major infrastructure projects and the expected economic revival should fuel demand for steel in the construction sector as well as in other branches - said Sławomir Majman, President of the PAIiIZ Board.

Despite that 2010 will continue to be a tough time for foreign direct investment, not only in Poland but worldwide. While capital flows from countries which have traditionally ranked among the biggest investors has diminished, the group of potential foreign investment destinations has constantly been growing.

From the left: Stefan Dzienniak, Member of the ArcelorMittal Poland Management Board; Sanjay Samaddar, President of the ArcelorMittal Poland Management Board; Sławomir Majman, PAIiIZ President; Iwona Chojnowska-Haponik, Director of the PAIiIZ Foreign Investment Department.

A company which has not stopped investing in Poland despite the global crisis is ArcelorMittal Poland. Sanjay Samaddar, President of the Board in Poland presented the ArcelorMittal’s investments in Poland and discussed the company’s investment plans for 2010

 - Who does not invest, lags behind and is not able to respond to new, market challenges. Investments worth PLN 3.8 billion implemented during the five years since privatisation, braced us up for the tough economic conditions which we all have been facing since the end of 2008 - emphasised President of ArcelorMittal Poland. - We are convinced that even in the times of general economic downturn, it would be a mistake to stop investing. That is why only in 2009 we allotted PLN 200 million to investment and extensive modernisation of a cold mill in Cracow as well as to the opening of a measurement and control block for track testing in a big mill in D±browa Górnicza.

Sanjay Samaddar - President of the ArcelorMittal Poland Management Board

In the beginning of the year another important investment project was completed - furnace in D±browa Górnicza. This year the company will focus on product quality improvement, assortment expansion with technologically advanced products and improvement of production effectiveness and product precision. Last year’s and 2010 investments correspond with client’s growing expectations towards the quality of offered products. Modern solutions will allow the company to enrich its current assortment and will guarantee high product quality.

Attachments:

	Presentation - ArcelorMittal  (Polish version)
	Presentation - PAIiIZ   (Polish version)