Christophe Lecourtier, Chief Executive Officer, Business France (left)
Pascal Cagni, Ambassador for International Investments, France (right)
COVID-19 highlighted the need for companies to reorganize their supply chains. The experience of the past few weeks must encourage Europe to intensify its efforts, and Member States to work together.
France and Germany will lead the way. On May 18, 2020, President Emmanuel Macron and Chancellor Angela Merkel unveiled a Franco-German initiative to support Europe’s economic recovery, ecological and digital transition, and its industrial sovereignty. They insisted that 5G, ‘a Europe of health’, and the green transformation of Europe must be prioritized, with strong support from all stakeholders, governments and businesses.
Berlin and Paris will have a common strategy of reducing their dependence on imports in strategic sectors, such as life sciences. However, this industrial autonomy cannot and will not, in any way, prohibit the growth of foreign businesses with strong industrial bases and R&D centers in Europe.
All these priorities, and the associated funding that will be put in place, represent an opportunity for new investments and jobs, starting with companies who are already present in the EU.
France’s performance as the leading FDI destination in Europe in 2019 shows the resilience of the French economy. And, this transformation of France’s ‘business model’ has been very well received by domestic and international investors alike.