The Institute for Market, Consumption and Business Cycles Research (IBRKK), Poland, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of the Columbia Law School and the Earth Institute at Columbia University in New York, are today releasing the results of a survey on outward investors. The survey is part of the Emerging Market Global Players (EMGP) Project focused on the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present survey, conducted in 2012, covers the period of 2009-2011. The report also contains a special section focusing on Polish MNEs’ innovation activities from the beginning of their foreign expansion up to 2013.

The 30 leading Polish non-financial MNEs ranked by foreign assets (Table 1) had a combined total of more than US$ 12 billion in foreign assets, US$ 21 billion in foreign sales and more than 24,000 employees abroad. Similar to the findings revealed in our previous report, the three top-ranked Polish MNEs in the survey (PKN Orlen, PGNiG, and Asseco Group) together held 72% of foreign assets, with PKN Orlen alone holding roughly 50%. PKN Orlen also dominates the ranking in terms of foreign sales, with its approximately US$ 16 billion in foreign sales accounting for 76% of the foreign sales of the 30 ranked firms (Annex Table 1). Following rather far behind in second and third place, respectively, are the Asseco Group (ranked third in terms of foreign assets) and Synthos (fourth in terms of assets). The top firm in the list in terms of foreign employment is Asseco Group, with more than 10,000 employees abroad.

The value of the Transnationality Index (TNI) varies significantly among the top 30  (see the “TNI” column in Annex Table 1). Although the average TNI (29%) was still modest, several companies such as Ferro and Asseco Group did further expand their overseas operations compared to our last survey in 2010. Five MNEs achieved a TNI of greater than 50% in 2011 compared to only three in the previous year.

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