BOSTON Poland is bracing for a steep drop in foreign investment next year, particularly in the vehicle engine, home appliance and electronics sectors due to the slowing global economy, according to PAIZ, the state investment promotion agency.
"We expect a significant decline in investment in export sectors," chief of PAIZ Pawel Wojciechowski was quoted as saying in the Polish newspaper Rzeczpospolita.
Some regional investments zones in Poland are expecting up to a 50 percent drop in investment permits in 2009.
The lower export demand is expected to accelerate a structural shift in FDI already underway, according to PAIZ. More foreign investment will go into services and R&D and less into production.
In the last few years, Poland has attracted a strong base of electronics manufacturers including Dell, Lenovo, LG, Electrolux and Sharp as well as large auto manufacturers and their suppliers.
The shift in investment patterns parallel Poland's gradual transformation from a production-oriented economy to a service-oriented one, according to PAIZ.
The high-technology, financial services, telecom and consulting service sectors are moving strongly to the forefront, the agency said.
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