Polish government to support industrial expansion?

At the moment industrial production accounts for 22 percent of Polish GDP, with means that its share would have to rise by three percentage points over the next five years to meet this target.

Piechociński explained the motivation behind this, saying “It is industry which generates innovative progress; industry is [also] one of the most important elements of exports.”

The minister added that work is undergoing on a document entitled Priorities of Industrial Policy 2015-2020, which will help set out a new industrial policy.

Piechociński described the new policy as one which will be a “hybrid approach combining both a horizontal policy [affecting all businesspeople- ed.] with sectoral ones [which will decide on specific conditions for certain sectors or branches of industry].”

Proposed areas of focus for industrial policy include improving technical education, creating a stable fiscal and legislative environment for firms, increasing investment in innovation and expanding in foreign markets.

According to recent data sold industrial output during the January-May period this year was 4.1 percent higher than the corresponding period of 2014, while the efficiency of industry, measured by sold output per employee, was up 2.4 percent. (sl/rg)

Source: PAP