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International Corporate Finance: Poland and India

By mid-2003, it completed the privatization of more than 8,500 individual state-owned companies. The government has also realized the need to support these businesses, create jobs and reduce unemployment. (Economist) .
             National Bank of Poland (NBP) is in charge of Poland's monetary policy, regulated by a ten member Monetary Policy Counsel (MPC). Poland's current currency, the zloty, ended 2004 as one of the strongest currencies in Eastern Europe. Being in the EU, Poland will be obliged to adopt the Euro by 2009. Poland's EU membership will help strengthen its economy within the EU's structural framework. The United States is one of the most active countries in Poland with trade expected to triple by 2010. (Jennifer Kane 2006) Poland has experienced current account deficits with falling from 6% GDP in 2000, to under 3% in 2001 and 2002. The account deficit improved to 2.2% in 2003. (Jennifer Kane 2006) Supported by healthy export growth, real GDP in Poland was expanded by 5.4% and 4.3% in 2005. GDP per capita in Poland is approximately $11,000. (Worldwide Tax.com).
             Poland's continued economic growth and development is very much dependant on Foreign Direct Investment (FDI). Poland has taken steps to attract investment with an "investment increase strategy." Poland's main export partners are Germany (33%), Italy (6%), France and the United Kingdom (about 5% each). Most imports are from Germany (29%), Italy and Russia (about 8% each). (Worldwide Tax.com) In an indexing study by MSU-CIBER in 2004, Poland's overall ranking of 9th, as compared to 23 other countries makes it an attractive choice for foreign investment. (Global Edge 2005) Despite the general global slowdown, Poland is still considered a positive investment with two world agencies, Standard & Poors and Fitch Ratings have rated Poland BBB+. Poland has a very skilled and cheap labor force. Poland's laws allow foreign investors to easily transfer any profits from operations in Poland.


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