Poland is considered a stable economic country which has experienced a high rate of growth within a short span of time. It is now the eighth largest economy in European Union. Although it is still experiencing some vulnerabilities, this hasn’t stopped the rapid growth and development of Poland. Companies in Poland are doing great for the better economy of the nation.
With an average growth of 6%, Poland has shown the most amazing performance in Central Europe over the last 20 years.
Polish exports including machinery, furniture, and vehicles, has contributed a significant amount to the economy.
Poland has an abundance of major companies which occupied their place in the most successful businesses in the world.
The main industries of Poland include machine building, coal mining, food processing, and chemicals. Agriculture and service sectors are the largest contributors to Poland’s economy.
Other than these, there are many other industries like oil and refinery, food processing and electricity which helped Poland economy in spreading its wings.
Some of the most powerful companies which have taken the Polish economy by the storm are listed below:
Awarded as the World’s most ethical company, PKN Orlen is a prestigious oil refiner company and the most valuable brand in Poland. The company later got its name from Orl ( meaning eagle) and en (energy).
The company was established in 1999 as a result of the merger of CPN (Centrala Produktów Naftowych) and Petrochemia Płock.
What Do They Do?
The firm is the largest fuel retailer in Poland with major investments in many of the Czech companies. The company runs 2nd largest complex in Europe which produces Terephthalic acid. PKN Orlen also owns the largest plastic company of Poland under a joint venture with Baseli.
Lotos plays a vital role in providing security of Poland’s energy. It makes this company one of the best companies in Poland. It is the only company which is engaged in the extraction of oil and gas under offshore license.
The decision of establishing the refinery was taken in 1971. It took about four years to set up the refining plant to contribute towards the Polish economy by supplying lubricants and fuels. As soon as the plant got constructed, it started mastering the art of development with its improved technologies.
What Does It Do?
Lotos is a vertically integrated company which deals with crude oil products and its refining. The firm is also listed in the WIG30 which is an index of Poland. The company is leading the lubricants market of Poland and also indulged in the production of aviation fuels and bitumen.
PGE is the largest producer of power in Poland. It is a state-owned company which is also listed on the Warsaw stock exchange.
The company was established after the merger of PSE, BOT Górnictwo, and PGE Energia SA after separating from PSE S.A. group.
What Does It Do?
Apart from its main business activities of producing and distributing electricity, the company is also engaged in the trading of electricity in the.market. PGE holds about 38% of the market share in electricity generation along with a 30% share in the supply of electricity.
PGNiG is Poland’s largest importer of natural gas and one of the best companies in Poland.
The company is listed and is also engaged in the production of crude oil. It is a leading company in Poland and also plays a crucial role in the gas market of Poland.
The company was established in April 2004 after Polskie Górnictwo Naftowe held its 100 percent share.
What Do They Do?
The PGNiG group has put a significant impact of Poland economy by serving 6.8 million customers with its services. It makes him one of the most influential companies in Poland. PGNiG’s significant sales of natural gas have put a satisfactory impact on Poland’s GDP. PGNiG has affiliated more and more inflow of LNG into Poland.
The Jeronimo Martins has a presence in Poland for more than last 20 years and they are the largest food distribution chain which serves more than 4 million customers every day.
The company was established as a modest shop in 1972 by Jeronimo Martins.
What Do They Do
Jeronimo Martins is a listed company which operates in the food distribution market. The company have its headquarters in Portugal and is specialized in the retail sector of Portugal.
Jeronimo Martins owns the largest chain of no-frills supermarkets which is Biedronka. Along with supermarkets, the company also runs Hebe, which is a beauty and cosmetic chain.
The economy of Poland is unstoppable with 23rd rank in terms of GDP in 2017. Polish economy has been doubled in the past few years due to the performance of best companies in Poland. Although the current assets of the company are enough to achieve new heights, but it will surely need some efforts by public and private sectors. After the privatization of industries, the GDP and living standard of Poland has emerged as a well-developed economy. The speed at which the economy of Poland is rising, soon it can become a more advanced economy on the global stage.