New law, which is due to be voted on next week, raises questions over whether there’s a shift in Poland’s approach to investors
Polish Prime Minister Mateusz Morawiecki. Picture: REUTERS/JULIEN WARNAND
Parliament is scheduled to vote on the bill next week and there’s opposition within the ruling coalition, which has been flirting with collapse over the proposals as well as tax changes. But the controversy has already lit another warning light in the EU’s biggest eastern economy. It’s raising questions over whether there’s a shift in Poland’s approach to investors whom the authorities generally courted to create new jobs.
“For an investor, the most important things are legal stability and dialogue,” said Krzysztof Krawczyk, who runs the Polish arm of CVC Capital, one of the world’s largest private equity funds. “You should talk to investors and not treat them as the enemy. Unfortunately, we often experience this ourselves.”
Discovery acquired TVN through its purchase of Scripps Networks Interactive , which bought the broadcaster in 2015 when it was valued at 6.8-billion zloty . To date, it’s the third-biggest investment in Poland by a US company, according to the American Chamber of Commerce in Warsaw. If passed, it would “negatively affect the investment climate around Poland,” said Deputy Prime Minister Jaroslaw Gowin, who leads the junior coalition partner. “It is not just about US investments. We have clear information from Washington that such a solution would freeze economic relations. The negative impact could be much wider.”
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