Piotr A. Głogowski
December 19, 2019
Poland and The Japan Institute for Overseas Investment
What happened? On December 13 The Embassy of the Republic of Poland in Tokyo and The Japan Institute for Overseas Investment (JOI) signed a business cooperation agreement extending the agreement from 2008 when The Embassy of the Republic of Poland in Tokyo became a special member of JOI. The agreement has been inked in a very favorable moment for polish entrepreneurs and economy with EUJEPA and Infrastructure cooperation pact entering into force.
The brief description. JOI was established in 1991 and is responsible for collecting and analyzing data from states and international institutions as well as organizations located both in Japan and outside the country. JOI works closely with Japan Bank for International Cooperation (JBIC), who gathers more than 200 most valuable Japanese financial, construction, manufacturing, trading and energy companies. JOI includes major Japanese investors in Poland like Toyota Motors or Hitachi.
It must be mentioned that JOI not only contributes to the expansion of international economic cooperation, but also spreads information useful for foreign direct investment (FDI) as well as Japanese companies. Nonetheless a change is visible. 2017 was a final year for JOI Bulletin – once crucial and most useful analytical report published in English and focused on overseas business operations by Japanese manufacturing companies. Although historical editions are available, currently JOI analysis are published mostly in 海外ー灯油氏 (Foreign Investment and Finance – published only in Japanese). This bimonthly magazine could be most important for potential Japanese FDI in Poland, because provides reports on FDI trends, investment climate and promising business opportunities in various countries – from 13 December 2019 includes Poland, what could be beneficial.
It must be remembered that JOI also organizes various seminars, conducts researches and works closely with Japanese companies.
Why it matters for Poland?
It must be mentioned that the newest agreement between The Embassy of the Republic of Poland in Tokyo and JOI could be recognized as an insignificant step – after 6 days from inking the only official information could be found in a single tweet on the Embassy account. Of course, it’s not the most crucial nor the most valuable achievement in bilateral relations in recent months, but it brings a major change in presenting and communicating the latest information on Polish economy and investment possibilities. In the future they will be distributed to the JOI members by JOI.
Even though in 2017 the JOI activities shifted mostly to Japanese partners and because of that it could be less efficient for Polish companies, the various sectors of Polish economy still could benefit due to Japanese FDI.