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Giant LG Philips contract is just one of a number of major deals in offing

The government eventually signed the investment agreement with the Korean-Dutch concern LG Philips for the construction of a production plant near Kobierzyce.

The cost of the investment is EUR 429 million. "We are ready to commission much of the construction works to Polish firms," said Bang Soo Lee, deputy president of LG.Philips. Domestic companies will provide some 30-40% supplies for the production plant, says the Polish Information and Foreign Investment Agency (PAIiIZ). According to people who are responsible for negotiations with foreign companies, this is not the end of foreign investments in Poland. "By the end of September we plan to announce at least 10 more investments," disclosed Marcin Kaszuba, Deputy Economy Minister.

American car components producer, Johnson Controls, wants to open two car-meter factories in Poland. Three other companies from the automotive sector are also interested in starting production in this country. Apart from that, on Tuesday the government will start preparing a long-term investment program for IBM, which plans to open a Research-Development Center in Poland. Among the companies thinking about entering Poland or developing on the Polish market are also Philip Morris and Volvo. PAIiIZ is currently involved in about 20 investment projects.

(WBJ 12.ix.05)

 
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