6.7 billion euros of investment and 4,000 jobs

The fifth edition of the “Choose France” summit begins this Monday at the Palace of Versailles with a new dose of foreign investment in France in the fields of healthcare, services or new technologies.

A record of 6.7 billion euros and 4,000 permanent jobs: the fifth edition of the “Choose France” summit, which takes place on Monday at the Palace of Versailles in the presence of Emmanuel Macron, will bring a new batch of foreign investment to France. , in healthcare, services or new technologies.

These announcements – 14 projects in total across the territory – “confirm our country’s attractiveness in new technologies” and contribute to its “reindustrialization”, welcomed the French presidency.

Semiconductor plant worth 4 billion euros

According to the daily newspaper L.and FigaroThe largest semiconductor plant project, with an “investment of around four billion euros,” is due to be announced on Monday by Franco-Italian semiconductor maker STMicroelectronics and US chip maker Global Foundries. Contacting AFP, STMicroelectronics did not respond Sunday evening.

Emmanuel Macron is due to make a trip to Grenoble (Isère) on Tuesday related to this announcement, the newspaper continues.

Fedex will create 1,200 permanent jobs in Roissy (Val-d’Oise), Spain’s Amadeus (management of tourist reservations) and 800 jobs in Sophia Antipolis (Alpes-Maritimes), consulting firm Accenture 500 in Brittany and Vietnam’s Vinfast. (automotive) from 350 to 400 in exhibition halls and workshops, also detailed the Élysée Palace.

The Italian group Iveco will develop its site for the production of electric buses in Rort (de Sèvres), as well as its sites in Annone (Ardèche) and Venissier (Rhone), the French president added.

British pharmaceutical giant GlaxoSmithKline (GSK) will invest in clinical trials, American Collins Aerospace (avionics, information systems – Raytheon Technologies group) in research and development, and German Vorwerk, manufacturer of Thermomix, will acquire a second production site in Ayr. -et-Loir (at Donmain-Saint-Mames).

The Dutch Interim Working Group Randstad will also hire 7,000 staff on temporary permanent contracts by the end of 2022.

Designed to boost France’s attractiveness, the summit will bring together 180 leaders of major foreign groups led by the head of state and economy ministers Bruno Le Maire, Agnès Pannier-Runachet’s energy transition or Roland Lescourt’s industry.

This record number of participants – there were between 120 and 130 in previous editions – is indicative of “very strong interest from foreign bosses after the re-election of the president,” the Élysée emphasizes.

“Wet the T-shirt”

The loss by the presidential camp of an absolute majority in the National Assembly is absolutely “not subject”, adviser Emmanuel Macron assures.

“The president has been very clear about his values ​​and his ongoing ambition in economic matters (…) no more taxes, no more debt (…) the big bosses don’t care,” he says.

The executives of Coca Cola, Disney, Siemens, Merck Germany, American banks Citi, JP Morgan, Morgan Stanley, Chinese conglomerate Fosun or Australian financial services group Macquarie will find themselves under the gold of Versailles.

Emmanuel Macron will also meet “major sovereign funds,” the Élysée said. In particular, the Emirates, Saudi Arabia, Kuwait, Qatar and Korea, as well as Canadian funds will be present.

Like every year, it’s about “wetting the shirt to protect France with these foreign players,” the president notes.

Emmanuel Macron will present his “economic agenda for the next five years, in particular with regard to the whole of France, focused on business and innovation,” she adds.

France prides itself on being the most attractive country in Europe for foreign investors in terms of the number of projects – 1,222 in 2021 – on the other hand, their size is generally smaller, according to the firm’s EY barometer.

The country is benefiting from the “widening Macron effect” of labor market liberalization and corporate tax cuts, while the UK continues to suffer from the “Brexit effect” and Germany from the “full employment effect” that makes hiring more difficult, EY noted in May. .

Since 2018, almost 80 investment projects representing 12 billion euros and 21,000 jobs have been announced at the Choose France summits.

Of this total, 25 have been completed, 50 are underway (including a battery plant in the north), and five have been shut down or delayed. Depending on the projects, the share of state aid increases from 5 to 10%.