Bloomberg
Poland is betting on a flood of investments and technology transfers from Taiwanese companies to reengineer its US$1 trillion economy.Polish Prime Minister Donald Tusk said yesterday that Poland will no longer be “just an assembly hub” as it pursues further investments from the likes of Foxconn Technology Group (富士康). The firm, whose full name is Hon Hai Precision Industry Co (鴻海精密), last month agreed to build electric vehicles (EVs) in the European Union nation and now could be a partner in a semiconductor venture, he said.The government’s aim is to boost manufacturing and the country’s high-tech chops in an era of volatile global politics and strained supply lines. Asian partners would invest in the relatively low cost, fast-growing country and expand their foothold in the EU’s 450 million person market.
Polish Prime Minister Donald Tusk speaks during the 16th European Financial Congress in Sopot, Poland, on June 2.
“The changing geopolitical situation shows that Europe needs to rebuild its own production capacities in key technologies,” Polish Deputy Minister of Economic Development and Technology Michal Jaros told Bloomberg News. “The pandemic, the war in Ukraine and trade tensions have highlighted the risks linked to excessive dependence on distant markets.”Foxconn, a key supplier for Apple Inc, is set to invest more than US$1 billion in the Polish EV project, Jaros said in an interview. The planned factory will produce cars under a new local brand and will become Foxconn’s center for the Taiwanese firm’s European expansion.
