Cause and Effect in European Politics and Law

Jacek Adamski: Bulgaria should turn to Asia for investments

Adelina Marini, July 25, 2011

Against the backdrop of the eurozone crisis and the tension in the entire European Union, the countries from Eastern Europe should look at the countries from the BRIC group for opportunities to attract investment, said in an interview with euinside Jacek Adamski, Vice President of the Polish Confederation of Private Employers LEWIATAN. He was here to try and establish direct contacts with the business circles in Bulgaria, as well as to present the Polish private business and its interests and intentions for investments.

Given the developments in the entire European Union and the euro area in particular, Mr Adamski was astonished that in spite of the good economic indicators, foreign investors still do not dare to invest their money in Bulgaria. He said that Bulgaria fulfilled all criteria, with the exception of the most important one - corruption. Besides, Bulgaria should look for sources of capital not among the developed countries in the core of the EU, which refrain from expansion, but to look at China, India, Taiwan and even Japan, which are looking for new routes to Europe.

He also recommended our country to take advantage of the concluded in the end of last year trade agreement between the EU and South Korea, which has entered into force on July 1st, because this would force many of the other players in Asia to try and negotiate similar good trade conditions. Poland for years has been benefiting from such investments. Currently the country is the biggest producer of LCD TV sets in Europe and the biggest exporter of FIAT cars in the world. Many big Asian companies have established their production lines in Poland, Mr Adamski said.

The main thing, he added, in order an economy to continue to grow even during a crisis, is the small and medium enterprises. They are the spine of Polish economy, Two million are the companies in Poland, he tells us, that are active and pay taxes. Of them 1.2mn generate employment of at least one worker, while a little below 1mn are the self-employed. This is the reason why the Polish economy not to make bubbles.

With Mr Adamski we also talked about the very important issues from the European agenda, like the reform of economic governance, the Euro+ Pact, the European semester and tax coordination. He is another Pole who welcomed the Euro+ Pact and who is not afraid from tax coordination. Defending the Pact he gave some solid arguments.