Foreign companies back France more strongly than ever as a European business location
- 300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people
United Arab Emirates, April 8, 2018. “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. The figures were revealed at a press conference held at the headquarters of Cisco in Paris region, by Bruno Le Maire, French Minister for the Economy and Finance, and Christophe Lecourtier, CEO of Business France.
A total of 1,298 investment decisions in 2017 (up 16% year-on-year) created or maintained 33,489 jobs (compared with 1,117 decisions and 30,108 jobs in 2016). More than 400 new companies decided to expand their business by investing in France, making up 32% of all investment projects recorded.
Investment decisions from the Middle East came mainly from Egypt (37%) and the UAE (37%) which is the first country form the GCC.
DP World subsidiary P&O Ports announced a €30 million investment in partnership with the commercial port of Sete, in southern for the creation of a container terminal, generating 30 jobs. Other plans currently being considered for the port of Sète include running a fruit terminal and expanding the marina in partnership with a leading name in the sector.
“The growing numbers of investment decisions in France, and the jobs they generate, highlight the renewed confidence that decision-makers now have in a country on the move. France’s business image is improving markedly: according to a survey conducted by Kantar Public on behalf of Business France, 84% of foreign investors now consider the French economy to be attractive, up 10 percentage points from 2016,” stated Christophe Lecourtier, CEO of Business France.
2017 recorded around 300 companies from Middle Eastern countries operating in France, where they employ more than 24,000 people, including 49 companies listed in the Global Forbes 2000.
Middle Eastern Investments were made in a total of seven sectors including agri-food, logistics, hospitality while they were mostly located in Lyon, Provence and Paris region.
“Innovation and manufacturing stand out in these results, in addition to France’s established structural advantages. In recent months, a new image of the country has emerged, attracting foreign investors here to pursue their projects in Europe. Everyone at Business France works day in day out to convince these investors that France is an attractive destination,” added Lecourtier.
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