POLAND: Carrefour investment plan criticised by smaller retailers
The recent announcement of French retail giant Carrefour to invest a further US$395m in developing its network of Polish stores by the end of next year has caused some concern amongst the country's smaller retailers, who fear that their business will suffer as they are edged out of the food market.Carrefour has opened 12 supermarkets in Poland since 1996, and is planning a further 18. The company's Agata Paszkowska revealed that investment to date has totalled US$465m, a substantial percentage of the US$3.4bn worth of foreign investments that will have bolstered the Polish economy by the end of 2000, according to the Polish Foreign Investment Agency. Other hypermarket operators to target this market are
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