February Edition 2021

16 Poland has the largest population of programmers in the CEE region if one adds increased transport costs. At the same time, Zalando distribution centres in Poland serve orders placed in Germany, Austria, the Netherlands and Scandinavia.” Tomczykowsk agrees, emphasizing the business services, automotive, aviation, programming and IT sectors. In 2019, the estimated value of exports from the Polish Business Services sector reached almost USD 20 Billion, with 95 Fortune Global 500 investors in the Polish BSS field. Google, Microsoft, Samsung, Accenture, Mars, Citibank, Goldman Sachs and Roche have located their business and R&D centers in Warsaw. Poland is the 6th largest producer of vehicles in Europe, with vehicle manufacturers Volkswagen, FCA, Daimler and Toyota having production plants in Poland. Five of the largest aircraft engine manufacturers in the world have located their production plants in Poland: Lufthansa, GE Aviation, Sikorsky, UTC Aerospace Systems and AugustaWestland, while the Lockheed Martin Polish factory is the aerospace giant's largest production plant outside of the U.S. Of particular interest to Israeli business leaders in the Start-Up Nation is that Poland has the largest population of programmers in the CEE region and its potential is recognized by the world's largest tech companies: in 2020, Microsoft announced that it will join the ‘National Cloud’ project and invest USD 1 Billion in a modern data center. Also, Google announced a USD 2 Billion to build a data center in Warsaw, according to the Polish Investment & Trade Agency, 2020. Uss at SK&S also emphasizes the life sciences sector. “Numerous biotechnological companies are thriving in Poland. Apart from a few market leaders, quite a few smaller companies are growing. We see an increased number of investments in bio-tech start-ups.” Andrzej Tokaj, S enior Partner at Polish law firm, Penteris, says: “Sectors drawing foreign direct investment include manufacturing, financial and insurance, wholesale and retail, while the sectors with the highest potential comprising aerospace, electronics, automotive and fintech.” He stresses the growing importance of fintech, as does Uss at SK&S: “We have been observing a rapid growth in the FinTech Sector. Polish consumers are open