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24 July 2017

Bill on Polish Trade and Investment Agency signed by President of Poland

The President of Poland, Andrzej Duda signed the bill concerning tasks executed within the scope of the promotion of Polish economy by the Polish Investment and Trade Agency. This means the sanctioning of former works of the Agency and the Polish Development Fund over the alteration of the system promoting the expansion of the Polish business. 62 senators voted in favour of the bill, 24 abstained.

Polska Agencja Inwestycji i Handlu S.A.

The purpose of the act is to concentrate the promotional activities of Polish economy, including pro-export and pro-investment operations in one institution that is Polish Investment and Trade Agency. The agency will support: the promotion of Polish export and sectors of Polish economy, as well as the inflow of direct foreign investments to Poland and Polish investments abroad. PAIH (the Polish Investment and Trade Agency), as assumed in the act, will become the first contact point and a comprehensive source of information for both the investor and the exporter.  Structuring the whole system of the Polish economy promotion will ensure that business activities in foreign markets will be more effective than so far, and the use of financial funds will be more efficient.

"The recent system of the economy promotion has cost the taxpayer PLN 110 m. These funds were very often spent on non-coordinated actions that did not deliver better results", said Tomasz Pisula, the President of PAIH Management Board. "According to the new policy, all actions concerning the promotion of the Polish economy will be mainly concentrated in one place. Moreover, functioning of the Polish Investment and Trade Agency within the Polish Development Fund Group (PFR) will allow to coordinate all Agency’s tasks with activities of other developmental institutions subordinate to the Minister of Development and Finance", he added.


President of Poland Andrzej Duda, press materials - The Chancellery of the President of Poland

Through the act, the government also undertakes to wind up Departments of Trade Promotion, Embassy Investment and Consulates of the Republic of Poland which ultimately will be replaced by the network of Foreign Trade Offices (ZBH) within three years. Foreign Trade Offices are established in strategic points in the world, where Polish entrepreneurs are awaiting them the most.

Newly established offices of the Agency promote entrepreneurs mainly on the so called emerging markets, where starting up business activity is most difficult to achieve, especially in Asia, Africa, South America. Currently, PAIH (Polish Investment and Trade Agency) can already support Polish entrepreneurs in carrying out operational activities in 12 markets in the world.  Until the end of the year, the Agency is going to have 20 such offices abroad, and in 2019 - 69.

"The main goal that we set in front of foreign trade offices is comprehensiveness. We promote entrepreneurs by providing information about the market, we pass analyses of various types, reports and guides. We also help to create contact networks with local companies and institutions. We organise trainings for Polish and foreign companies, verify business partners, organise economic missions, B2B meetings and the participation in trade fairs", Pisula commented. (PAIH)

 

 


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