Pekao in Davos: Poland is facing some challenges, but also a truly historic opportunity to grow

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DAVOS, Switzerland, Jan. 23, 2023 /PRNewswire/ -- Although recent years have been marked by numerous global disruptions, the Polish economy has proved to be highly resilient. As Jerzy Kwieciński, Vice-President of Bank Pekao S.A. stated in Davos, our potential and flexibility, combined with the prospect of participating in the major effort to reconstruct Ukraine's infrastructure, create truly historic growth opportunities for Poland.

"Why Poland? Capturing the opportunity in the era of a shift from globalization to regionalization" was the title of the first expert debate organized at the Polish House during the World Economic Forum in Davos.

As all panelists have admitted, global events taking place in recent years have revolutionized the nature of international trade and production, resulting in a tendency to shorten supply chains. For Poland, this is an opportunity to become a regional hub for manufacturers and operators, offering a good environment in which it is worth investing and expanding one's economic activity.

"For more than 30 years, Poland has been effectively attracting numerous foreign investors who value the openness of our country, its geographical location, economic stability, and availability of many well-educated specialists. Right now, the time has come for us to seize this opportunity together - as the financial sector, entrepreneurs, legislators, and the society as a whole - and to transition the Polish economy to a higher level"- said Jerzy Kwieciński.

Such a transition is made possible, in the opinion of Jerzy Kwieciński, inter alia by the energy transformation processes and the related opportunities companies enjoy when it comes to acquiring additional funding or taking advantage of facilities aiming to reconstruct EU economies after the pandemic. The involvement of Polish companies and financial institutions in the post-war reconstruction of Ukraine is expected to play a key role as well.

Although the prospect the conflict taking place across our eastern border coming to an end seems remote, experience from the past shows that the success of such a process requires proper preparation. Jerzy Kwieciński declared that the Polish bank would support all companies expressing their willingness to participate in the undertaking. Economists of Bank Pekao S.A. estimate that profits from Poland's commitment to rebuilding Ukraine's infrastructure may account for up to 3.8% of Polish GDP in the future.

SOURCE Bank PEKAO SA