The Élysée announces a rain of foreign investment in France

French President Emmanuel Macron at the opening of the 4th edition of Choose France, in January 2021. AP - Ludovic Marin

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Three years before the presidential election, the French presidency announces 21 new foreign investments for a total amount of more than 4 billion euros.

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The Palace of Versailles will not be hosting the CEOs of multinationals this year for the fifth edition of “Choose France”.

Pandemic obliges, the face-to-face holding of this event has been canceled.

However, this did not prevent the Élysée from putting forward its policy in the service of France's attractiveness, by announcing some major foreign investment projects.

More than 4 billion euros will thus be injected in France into 21 new, mainly industrial projects, indicates the presidency.

They should enable the creation of 10,000 jobs.

To these are added 16,000 creations of temporary permanent contracts planned by Manpower. 

Among these varied investments, the health sector is rather well represented.

Pfizer intends to put on the table more than 520 million euros in several projects, including to subcontract the production of an anti-Covid treatment.

The British laboratory GSK is also putting its hand in its pocket, among other things for the digitization of its vaccine production plant.

The German Merck, which notably produces monoclonal antibodies, is expected to recruit 600 people. 

850 million euros from the American Eastman

On the trade side, Ikea will spend 650 million euros over three years, an envelope dedicated to sustainable transport and the circular economy.

The Turkish Getir aims to invest in a network of convenience stores with more than 5,000 jobs at stake, according to the Elysée. 

The most important of the projects announced is that of the American group Eastman, which specializes in the production of materials, which will inject 850 million euros into a plastics recycling plant employing 350 people, in a location yet to be defined.

Its CEO Mark Costa will be received at the Elysée by the President of the Republic, his services indicated.

The Head of State will then go to the Grand-Est where BASF will build a factory.

These two projects have received support from the France 2030 and France Relaunch plans. 

The French presidency indicates that of the 57 projects announced during the four previous editions of Choose France, 55 have materialized for 8 billion euros, corresponding to 13,300 jobs.

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• Employment and Labor

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• Emmanuel Macron