My EMBA Journey

I had an opportunity to attend a panel discussion on the subject of "Doing Business in Poland". This discussion was conducted by Suffolk University and co-sponsored by Polish American Networking Organization(PANO) and Polish American biweekly publication White Eagle News.



This event gave me an excellent opportunity to interact with Polish community. Panel members included Consul Dariusz Wojtaszek from consulate general of the Republic of Poland in New York, Tad Witkowicz a Polish born serial entrepreneur and Patryk Drescher a Senior associate with Ropes & Gray.

I got a great insight in to the polish political, economic, social and technological factors. Following are some of the interesting notes I took from the panel discussion.

Poland has the largest fortified castle in Europe
In 2006 Poland noticed a 5 - 6% GDP growth
President and Prime Minister of Poland are identical twins
Poland is a member of OECD, NATO, EU
Poland has a population of around 30 Million
1.5 Million people migrated outside Poland in 2006. Major reason is attributed to 14%unemployment issues.
Poland saw a 30% productivity growth in 2006
Poland has a relatively low labor cost
Poland has a low Taxation(19% Tax) next only to Slovakia(16%)
EU gave 9 Billion Euro for infrastructure projects
FDI investment is around $109 Billion. In 2006 it was around $14.7 Billion

Investment Opportunities
Government is creating new programs to encourage foreign investment
Grants for organizations who provide training to Polish people
Grants for organizations who create new jobs in Poland
There are even exemptions for real estate taxes

Why should you invest in Poland?
Politically Stable
Member of European Union
Low labor cost - $50,000 USD engineer in Poland is equivalent to $180,000 USD in Boston, MA
Highly educated workforce
Strong GDP Growth

Largest American Companies in Poland
Apollo Rida
Citigroup
DELL
Google
GM
Intel
Gillette

Positives in Polish Investment
Quality Workforce
Flexible & Hardworking Workforce
Strong technological skills
Generally everyone speaks English

Some Negatives need to be cautious on
Polish people are shy, If you didn't ask they won't speak
Polish trademarks takes up to 3 years
Polish company registration takes up to 6 years, but the process is getting revamped by the government.
Communication is a critical aspect between Polish and American counterpart

More Information on Poland
Poland Government Link
Polish Food in Boston