Macron hails France's power to woo foreign investors for big industrial projects
French president Emmanuel Macron is scheduled to tour an aluminium factory in the northern city of Dunkirk on Friday to hail the region as a symbol of industrial recovery and highlight his country’s growing economic relevance as a venue for foreign investments.
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The visit comes two days after the Taiwanese industrial group Prologium announced it had chosen Dunkirk as the venue for a hi-tech factory to construct batteries for electric cars from 2026.
Macron will look round the Aluminium Dunkerque plant – described by the Elysée Palace as the largest producer of primary aluminium in Europe – where he is expected to underline his government’s desire to accelerate the re-industrialisation of France.
The strategy was reiterated in an interview with the weekly magazine Challenges. "Re-industrialisation means creating purchasing power and financing our social model,” said Macron.
“It also means reducing the foreign trade deficit. If we don't win the battle of industrialisation, we won't be able to win the battle of full employment,” he added.
“We won’t be able to give back perspectives and projects to the territories and thus cement our national unity again," he said.
During the interview Macron also promised to slash the red tape preventing entrepreneurs from setting up industrial operations n France. "The key is simplicity and speed," he added.
Top of list
The push has kept France at the top of the list of European countries in terms of the number of foreign investment decisions, according to analysis by the accountancy firm EY.
France attracted 1,259 projects in 2022, including 547 foreign industrial projects.
"Industry remains a driving force of France’s attractiveness: 4 out of 10 projects will involve setting up or extending a factory and the availability of low-carbon energy remains, despite the current energy crisis, France's main asset for industrial leaders,” said the EY survey.
On Thursday night following high-level talks with captains of industry in which Macron fleshed out the proposals in his interview, the President urged powerbrokers to work for industrial plants that were carbon-friendly, respectful of biodiversity and digitalised.
“The real delays on industrial projects today are 17-18 months," he added. “We have already reduced them a lot, before it was two to three years. What we need to do is bring them down to nine months guaranteed."
Training
As well as confirming a 700 million euro training programme for what he called professions of the future, he said there would be a green industry tax credit for technologies such as electric batteries, heat pumps, wind turbines and solar panels.
The measure should enable 20 billion euros of investment to be triggered in France between now and 2030, said Macron.
"We will support batteries and vehicles that are produced in Europe because their carbon footprint is good," he added.
"This does not mean that we are engaging in protectionism. But we do not want to use French taxpayers' money to accelerate non-European industrialisation."
He also urged the EU to pause imposing environmental regulations, saying Europe had already done far more than other industrial powers.
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