France: The Elysée announces more than 4 billion euros in new foreign investments

The Elysée has announced that foreign companies will invest more than 4 billion euros in France in around twenty new projects covering different sectors.

According to the French press, which quotes the Elysée, these projects will allow the creation of more than 10,000 jobs, particularly in the chemical industry, health and the food industry.

These investments, which will be announced on Monday by President Emmanuel Macron, will be presented as “proof of the positive impact of the economic policy” of the Head of State on the competitiveness of the country, less than three months from the first round of the presidential election”, specifies the press.

Thus, the American Eastman, specialized in the production of materials, will invest 850 million euros in a plastics recycling plant, the Swedish furniture giant Ikea 650 million over three years and the German chemist BASF 300 million on the site. Alsatian from Chalampé (east of the country), explained the French presidency.

For its part, the Norwegian Norske Skog will inject 250 million euros to convert a newsprint production line into 100% recycled packaging cardboard in Golbey, in the Vosges, and the American Mars Petcare (food for company) 85 million in Loiret (centre) to renovate existing equipment and build two new production lines.

For its part, Pfizer will invest more than 520 million euros in an industrial subcontracting project with the contract manufacturer Novasep for the production of treatment against Covid-19 and investments in cutting-edge research, while GSK will inject 118 million at three sites in France.

These announcements are part of the fifth edition of “Choose France”, an event for which CEOs of multinationals are usually invited to the Palace of Versailles, near Paris, but whose face-to-face meeting was canceled this year due to the pandemic.

The 21 new projects will create “more than 10,000 jobs, to which are added more than 16,000 temporary permanent jobs” from the Manpower company, indicated the Elysée, recalling that of the 57 projects announced during the four previous editions, 55 materialized for 8 billion euros, corresponding to 13,300 jobs.

France was in 2019 and 2020 the first destination for foreign investment in Europe, according to the barometer of the firm EY.

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