A. Definitions and sources of data

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1 Poland A. Definitions and sources of data Data on foreign direct investment (FDI) in Poland are reported by the National Bank of Poland (NBP), the Polish Agency for Foreign Investment (PAIZ) and the Central Statistical Office (GUS). Since 1989, farreaching market-oriented reforms have been established in the transformation of the economy. A large-scale liberalization and privatization programme, together with the introduction of a new currency in 1995, gained widespread support which led to increasing FDI inflows. Productivity gain, sound fiscal and monetary policies contributed to strong GDP growth since Despite the negative impact of the 1998 Russian financial crisis, continued economic expansion of over 4 per cent was attained in both 1998 and Further liberalization efforts, including structural social reforms and lowering the taxation rate, were made. In pursuing a policy of regional and international integration and co-operation, among other things, Poland gained membership to the Organisation for Economic Co-operation and Development (OECD) in Amendments to legal acts and the adoption of investment policies in accordance to its international obligations and for EU membership, will further enhance the country as an attractive investment destination. The country will join the European Union in PAIZ was established in The role of PAIZ is to promote Poland s investment opportunities and to encourage foreign companies to choose Poland as their preferred investment location. The Agency is a joint stock company, wholly owned by the State Treasury. It acts as an intermediary, serving individual and corporate foreign investors. PAIZ offers foreign companies its know-how and helps them establish contacts with governmental bodies and the business community. Foreign investors are given national treatment. The principal act governing business activity in Poland the Business Activity Law of 19 November 1999 gives the Polish and foreign entrepreneurs equal rights in taking up and conducting business activities in Poland. Foreign entrepreneurs may, subject to the principle of reciprocity, take up and conduct business on the basis of the same principles applicable to entrepreneurs having permanent residency or a registered office in Poland, unless international agreements ratified by Poland provide otherwise. In case of the lack of the principle of reciprocity, foreign entrepreneurs may conduct a business activity only in the form of a limited partnership, limited liability company or a joint stock company. They can also join such partnerships or companies and held or purchase shares therein. A guarantee of unrestricted transfer of profits and of invested capital is provided. There is generally no restriction on foreign ownership, although some limitations may exist in certain activities. Most of the former screening mechanism for entry and establishment of business by foreign firms has been abolished. The terms attached to the privatization of some large state-owned entities, such as production or performance target, may be negotiated. The new Foreign Exchange Law (came into force on 1 October 2002) liberalized movement of capital. The new regulation introduces a distinction between non-residents from the EU countries and non-residents from the third countries, with the third countries limited not only to the countries other than the EU, but also to the countries other than the OECD and EEA (European Economic Area). Non-residents from the EU territory (as well as OECD and EEA) are treated as priority and currency turnover with them is subject to more lenient restrictions than the currency turnover with non-residents from the third countries. Foreign companies may acquire parcels of land not larger than 0.4 hectares in urban areas without the need of a permit. Presently, the VAT rate is set up to 22 per cent, whilst the corporate income tax is 28 per cent. Since January 2001, according to the Commercial Companies Code, two additional types of entities were introduced professional partnership and limited joint-stock partnership. A professional partnership may

2 not liable for the entity s obligations incurred by other partners in connection with the performance of their duty. On the other hand, a limited joint-stock partnership is a partnership where the owners may raise capital through the issuing of shares, but keep control on the Board of Directors and the corporate s management. Under the Law on the National Court Register, the Register court file is kept in the District Court of a voivodship and is open to anybody wishing to consult registered entities. The NBP and the Ministry of Finance are responsible for licensing and regulating banking activities. Under the 1997 Banking Act, investors from the OECD and European Union countries are authorized to establish branches, agencies and representative offices in the financial sector (banks, insurance companies and brokerage houses). Since January 1999, insurance companies that are located outside the country may also sell their policies directly in Poland. FDI data reported by the PAIZ are compiled according to the OECD benchmark definition of FDI. They reflect a foreign investor s share of at least 10 per cent in the equity capital of a company. Medium- and long-term loans granted by foreign investors to the companies established by them in the country, and reinvested earnings are considered as FDI. Any loss incurred by a company is not treated as negative reinvested earnings. The dollar equivalent of the invested amount is calculated by using the prevailing exchange rate at the time when the investment was made. Reported data are based on transactions totalling $1 million or more, of companies with foreign participation and are complemented by a survey with questionnaires sent out to entities. Inward stock data, by geographical origin and industrial-sector breakdown, are given. Data published by the NBP are based on information derived from the balance sheets of reporting companies. They include contributions in kind and payments on a cash basis effected through the banking system. Since 1996, any loss incurred by an entity is subtracted from the value of reinvested earnings. Inward and outward flow and stock data, by geographical and industrial-sector breakdown, are presented. Activities and financial data of affiliates of foreign transnational corporations (TNCs), presented by the GUS, pertain to companies with foreign ownership of over 50 per cent, except in banking and insurance. Information on the number of affiliates of foreign TNCs, assets, employment, sales, profits, exports, imports, and research and development expenditures, by industrial-sector breakdown and geographical origin, is compiled.

3 B. Statistics on FDI and the operations of TNCs

4 Table 1. Summary of FDI (Millions of dollars) Variable Inward Outward 1. FDI flows, (annual average) FDI flows as a percentage of GFCF, (annual average) 3. FDI stocks, FDI stocks as a percentage of GDP, Sources : Based on tables 3 and 4; UNCTAD, FDI/TNC database. Table 2. Summary of international production (Number and millions of zloty) Variable Home-based TNCs Affiliates of foreign TNCs in Poland Foreign affiliates of home-based TNCs abroad 1. Number, Assets, Employment, Sales, Profits, Exports, Imports, Research and development expenditures, Source: Based on tables 17, 18b, 21, 22, 25, 26, 29, 30, 37, 38, 41, 42, 45, 46, 49 and 50.

5 Table 3a. FDI flows, by type of investment, Inward investment (Millions of dollars) Intra- Intra- Reinvested company Reinvested company Year Equity earnings loans Total Equity earnings loans Total Sources : Poland, National Bank of Poland, Statistics Department. Outward investment Notes : Since 1996, losses incurred by entities are taken into account in reinvested earnings. Contributions to equity investments are made in cash and in kind. Table 3b. FDI flows, by type of investment, (Millions of dollars) Inward investment Outward investment Intra- Intra- Reinvested company Reinvested company Year Equity earnings loans Total Equity earnings loans Total Source : International Monetary Fund, September 2002 Balance of Payments CD ROM.

6 Table 4 : FDI stocks, by type of investment, (Millions of dollars) Equity Inward investment Equity Outward investment and Intra- and Intrareinvested company reinvested company Year earnings loans Total earnings loans Total Sources: Poland, National Bank of Poland, Statistics Department. Note : No separate information is available for equity and reinvested earnings.

7 Table 5 : FDI flows in the host economy, by industry, (Millions of dollars) Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR Food, beverages and tobacco Textiles, leather and clothing Wood, publishing and printing Chemicals and chemical products Rubber and plastics products Non-metallic mineral products Basics metal and metal products Machinery and equipment Office machinery and computers Radio, television and communication apparatus Motor vehicles Other transport equipment Other manufacturing TERTIARY SECTOR Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transport Telecommunications Finance Monetary intermediation Financial intermediation Insurance and other activities Real estate Business activities Other services Unspecified Sources: Poland, National Bank of Poland, Statistics Department.

8 Table 6 : FDI flows in the host economy, by geographical origin, (Millions of dollars) Region/economy Total world Developed countries Western Europe European Union Austria Belgium and Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Iceland Liechtenstein Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan New Zealand Developing countries /economies Africa North Africa Egypt Morocco Other Africa Latin America and the Caribbean South America Argentina Brazil Chile Uruguay Other Latin America and the Caribean Asia West Asia Turkey South, East and South-East Asia China Hong Kong China India Malaysia Philippines Republic of Korea Singapore Taiwan Province of China Thailand Central and Eastern Europe Belarus Bulgaria Croatia Czech Republic Estonia Hungary Lithuania Romania Russian Federation Serbia and Montenegro Slovakia Slovenia Ukraine Unspecified Sources: Poland, National Bank of Poland, Statistics Department.

9 Table 8 : FDI flows abroad, by industry, (Millions of dollars) Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR Food, beverages and tobacco Textiles, leather and clothing Wood, publishing and printing Chemicals and chemical products Basics metal and metal products Machinery and equipment Radio, television and communication apparatus Motor vehicles Other transport equipment Other manufacturing TERTIARY SECTOR Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transport Telecommunications Finance Monetary intermediation Financial intermediation Insurance and other activities Real estate Business activities Other services Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

10 Table 9 : FDI flows abroad, by geographical destination, (Millions of dollars) Region/economy Total world Developed countries Western Europe European Union Austria Belgium and Luxembourg Denmark France Germany Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Liechtenstein Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan New Zealand Developing countries /economies Africa North Africa Egypt Other Africa Latin America and the Caribbean Other Latin America and the Caribean Mexico Asia West Asia Turkey South, East and South-East Asia China Singapore Thailand Central and Eastern Europe Albania Belarus Bulgaria Croatia Czech Republic Estonia Hungary Latvia Lithuania Romania Russian Federation Serbia and Montenegro Slovakia Ukraine Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

11 Table 11a : FDI stocks in the host economy, by industry, (Millions of dollars) Sector/industry PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR Food, beverages and tobacco Textiles, leather and clothing Wood and furniture Paper, publishing and printing Chemicals and chemical products Rubber and plastics products Non-metallic mineral products Basics metal and metal products Machinery and equipment Electrical machinery and apparatus Motor vehicles and other transport equipment Unspecified secondary TERTIARY SECTOR Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transport, storage and communication Finance Real estate and business activities Other services TOTAL Estimated FDI of less than $ 1 million Overall total Source : Polish Agency for Foreign Investment (PAIZ), Research Department, Warsaw ( Notes : Data refer to investments of over $1 million, monitored by PAIZ. The corresponding values in 1994, 1995 and were respectively $4,320.8 million, $ 6,832.2 million and $ 12,027.7 million.

12 Table 11b : FDI stocks in the host economy, by industry, (Millions of dollars) Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR Food, beverages and tobacco Textiles, leather and clothing Wood, publishing and printing Coke and petroleum products Chemicals and chemical products Rubber and plastics products Basics metal and metal products Machinery and equipment Office machinery and computers Radio, television and communication apparatus Motor vehicles Other transport equipment Other manufacturing TERTIARY SECTOR Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transport Telecommunications Finance Monetary intermediation Financial intermediation Insurance and other activities Real estate Business activities Computer activities Research and development Other business activities Other services Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

13 Table 12a : FDI stocks in the host economy, by geographical origin, (Millions of dollars) Region/economy Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Liechtenstein Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan South Africa Developing countries /economies Developing Europe Croatia Malta Slovenia Asia West Asia Cyprus Turkey South, East and South-East Asia China Hong Kong, China Malaysia Republic of Korea Singapore Taiwan Province of China Central and Eastern Europe Czech Republic Russian Federation Unspecified Total world Estimated FDI of less than $ 1 million Overall total Source : Polish Agency for Foreign investment (PAIZ), Research Department, Warsaw ( Notes : Data refer to investments of over $1 million, monitored by PAIZ. Unspecified includes international organizations. The corresponding values in 1994, 1995 and 1996 were respectively $4,320.8 million, $6,832.2 million and $12,027.7 million.

14 Table 12b : FDI stocks in the host economy, by geographical origin, (Millions of dollars) Region/economy Total world Developed countries Western Europe European Union Austria Belgium and Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Iceland Liechtenstein Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan New Zealand Developing countries /economies Africa North Africa Egypt Morocco Other Africa Latin America and the Caribbean South America Argentina Brazil Chile Colombia Uruguay Venezuela Other Latin America and the Caribean Mexico Asia West Asia Turkey South, East and South-East Asia China Hong Kong, China India Indonesia Malaysia Philippines Republic of Korea Singapore Taiwan Province of China Thailand Central and Eastern Europe Belarus Bulgaria Croatia Czech Republic Estonia Hungary Lithuania Romania Russian Federation Serbia and Montenegro Slovakia Slovenia Ukraine Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

15 Table 14 : FDI stocks abroad, by industry, (Millions of dollars) Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR Food, beverages and tobacco Textiles, leather and clothing Wood, publishing and printing Chemicals and chemical products Rubber and plastics products Basics metal and metal products Machinery and equipment Radio, television and communication apparatus Motor vehicles Other transport equipment Other manufacturing TERTIARY SECTOR Electricity, gas and water Construction Trade and repairs Hotels and restaurants Transport Telecommunications Finance Monetary intermediation Financial intermediation Insurance and other activities Real estate Business activities Other services Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

16 Table 15 : FDI stocks abroad, by geographical destination, (Millions of dollars) Region/economy Total world Developed countries Western Europe European Union Austria Belgium and Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Liechtenstein Norway Switzerland Unspecified Other Western Europe North America Canada United States Other developed countries Australia Israel Japan New Zealand Developing countries /economies Africa North Africa Egypt Morocco Other Africa Latin America and the Caribbean South America Brazil Venezuela Other Latin America and the Caribean Mexico Asia West Asia Turkey South, East and South-East Asia China India Singapore Central and Eastern Europe Albania Belarus Bulgaria Croatia Czech Republic Estonia Hungary Latvia Lithuania Romania Russian Federation Serbia and Montenegro Slovakia Ukraine Unspecified Sources : Poland, National Bank of Poland, Statistics Department.

17 Table 18a : Number of foreign investors in the host economy, by geographical origin, Region/economy Total world Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Liechtenstein Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan South Africa Developing countries /economies Developing Europe Croatia Malta Slovenia Asia West Asia Cyprus Turkey South, East and South-East Asia China Hong Kong, China Malaysia Republic of Korea Singapore Taiwan Province of China Central and Eastern Europe Czech Republic Russian Federation Unspecified Sources : Polish Agency for Foreign Investment (PAIZ), Research Department, Warsaw ( various volumes. Notes : Data refer to the number of investors with foreign investment of over $1 million. Unspecified includes international organizations. The corresponding numbers in 1995 and 1996 were 362 and 492, respectively.

18 Tables 22, 29 and 34 : The number, assets and employment of affiliates of foreign TNCs in the host economy, by industry, (Assets in millions of zloty) Number Assets Employment Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR TERTIARY SECTOR Electricity, gas and water Construction Trade Hotels and restaurants Transport and telecommunications Finance Real estate and business services Public administration Health and social services Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 percent in the company's equity capital and employing more than 9 persons. Assets include fixed assets, current assets and inter-period settlements. No data are available prior to 1999.

19 Table 23 : The number of affiliates of foreign TNCs in the host economy, by geographical origin, Region/economy Total world Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece 12 8 Ireland 9 12 Italy Netherlands Portugal - 4 Spain Sweden United Kingdom Other Western Europe Iceland 3 3 Liechtenstein Monaco - 4 Norway Switzerland North America Canada United States Other developed countries Australia Israel 11 8 Japan Developing countries /economies Latin America and the Caribbean 4 12 Other Latin America and the Caribbean 4 12 Bahamas - 4 British Virgin Islands 4 5 Panama - 3 Developing Europe Croatia 3 3 Malta 5 4 Serbia and Montenegro - 4 Slovenia 4 5 Asia West Asia Cyprus Iran, Islamic Republic of - 3 Turkey South, East and South-East Asia China 5 3 India 3 4 Republic of Korea Taiwan Province of China 5 4 Viet Nam 3 - Central and Eastern Europe Bulgaria - 3 Czech Republic Hungary 7 7 Russian Federation Slovakia 5 5 Ukraine 5 4 Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. No data are available prior to 1999.

20 Tables 30 and 35 : Assets and employment of affiliates of foreign TNCs in the host economy, by geographical origin, (Assets in millions of zloty) Assets Employment Region/economy Total world Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Iceland Liechtenstein Monaco Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan Developing countries /economies Latin America and the Caribbean Other Latin America and the Caribean Bahamas British Virgin Islands Panama Developing Europe Croatia Malta Serbia and Montenegro Slovenia Asia West Asia Cyprus Iran, Islamic Republic of Turkey South, East and South-East Asia China India Republic of Korea Taiwan Province of China Viet Nam Central and Eastern Europe Bulgaria Czech Republic Hungary Russian Federation Slovakia Ukraine Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. Assets include fixed assets, current assets and inter-period settlements. No data are available prior to 1999.

21 Tables 44 and 54 : Sales and profits of affiliates of foreign TNCs in the host economy, by industry, (Millions of zloty) Sales Profits Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR TERTIARY SECTOR Electricity, gas and water Construction Trade Hotels and restaurants Transport and telecommunications Finance Real estate and business services Public administration Health and social services Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. Sales denote sales of goods and services, while profits refer to net profits taking into account losses. No data are available prior to 1999.

22 Tables 45 and 55 : Sales and profits of affiliates of foreign TNCs in the host economy, by geographical origin, (Millions of zloty) Sales Profits Region/economy Total world Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Iceland Liechtenstein Monaco Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan Developing countries /economies Latin America and the Caribbean Other Latin America and the Caribean Bahamas British Virgin Islands Panama Developing Europe Croatia Malta Serbia and Montenegro Slovenia Asia West Asia Cyprus Iran, Islamic Republic of Turkey South, East and South-East Asia China India Republic of Korea Taiwan Province of China Viet Nam Central and Eastern Europe Bulgaria Czech Republic Hungary Russian Federation Slovakia Ukraine Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. Sales denote sales of goods and services, while profits refer to net profits taking into account losses. No data are available prior to 1999.

23 Tables 59 and 64 : Exports and imports of affiliates of foreign TNCs in the host economy, by industry, (Millions of zloty) Exports Imports Sector/industry TOTAL PRIMARY SECTOR Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum SECONDARY SECTOR TERTIARY SECTOR Electricity, gas and water Construction Trade Hotels and restaurants Transport and telecommunications Finance Real estate and business services Public administration Health and social services Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. No data are available prior to 1999.

24 Tables 60 and 65 : Exports and imports of affiliates of foreign TNCs in the host economy, by geographical origin, (Millions of zloty) Exports Imports Region/economy Total world Developed countries Western Europe European Union Austria Belgium Luxembourg Denmark Finland France Germany Greece Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Iceland Liechtenstein Monaco Norway Switzerland North America Canada United States Other developed countries Australia Israel Japan Developing countries /economies Latin America and the Caribbean Other Latin America and the Caribean Bahamas British Virgin Islands Panama Developing Europe Croatia Malta Serbia and Montenegro Slovenia Asia West Asia Cyprus Iran, Islamic Republic of Turkey South, East and South-East Asia China India Republic of Korea Taiwan Province of China Viet Nam Central and Eastern Europe Bulgaria Czech Republic Hungary Russian Federation Slovakia Ukraine Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data refer to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 9 persons. No data are available prior to 1999.

25 Table 69 : Research and development expenditures of affiliates of foreign TNCs in the host economy, by industry, (Millions of zloty) Sector/industry TOTAL SECONDARY SECTOR Food, beverages and tobacco Wood, paper, publishing and printing Chemicals, rubber and plastic products Non-metallic mineral products Machinery and equipment Electrical machinery and apparatus Radio, television and communication apparatus Precision instruments Motor vehicles, trailers and semi-trailers Other transport equipment Other manufacturing TERTIARY SECTOR Trade, hotels and restaurants Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data pertain to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 49 persons, not including banking and insurance. The number of employees considered was more than 50 persons, up to 1998.

26 Table 70 : Research and development expenditures of affiliates of foreign TNCs in the host economy, by geographical origin, (Millions of zloty) Region/economy Total world Developed countries Western Europe European Union Austria Belgium Denmark France Germany Netherlands Sweden United Kingdom Other Western Europe Norway Switzerland North America Canada United States Developing countries /economies Asia South, East and South-East Asia Republic of Korea Central and Eastern Europe Czech Republic Unspecified Source : Central Statistical Office, Data Dissemination Division, Section of Statistical Information, Warsaw, unpublished data. Notes : Data pertain to enterprises with foreign participation of over 50 per cent in the company's equity capital and employing more than 49 persons, not including banking and insurance. The number of employees considered was more than 50 persons, up to 1998.

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