Emmanuel Macron receives Monday more than 200 big bosses of foreign multinationals, including Elon Musk, for the sixth edition of “Choose France”, marked by a record amount of 13 billion euros of announced investments, which should make it possible to create 8000 jobs .
The American billionaire, boss of Tesla and SpaceX and owner of Twitter, will be received Monday morning at the Elysee Palace before going to the Palace of Versailles where he will meet in particular at 4 p.m. with the Minister of the Economy Bruno Le Maire, to talk the European response to the American IRA and the French green industry bill, according to Bercy.
“There are negotiations underway” with Elon Musk, revealed on BFMTV / RMC Bruno Le Maire, who judged that the arrival of the billionaire, who did not announce an investment for “Choose France”, was a very strong signal.
“All the investments that are made today are the fruit of months, even years of negotiations”, added the minister.
Since the first edition in 2018 “Choose France” has, according to the Elysée, “become an unmissable event” which embodies the success of its policy to lower the cost of labor and reindustrialize the country, while accelerating the ecological transition.
Of some 400 guests received under the golds of the Palace of Versailles, 206 bosses of multinationals have confirmed that they will make the trip, half of whom will be participating in this event for the first time.
The foreign bosses present will be half European, 20% North American and 15% Asian, we detailed from the same source.
Panels made in France
The largest of the 28 announced projects was already unveiled by Emmanuel Macron on Friday during a trip to Dunkirk (northern France): 5.2 billion euros for a gigafactory of new generation batteries from Taiwanese ProLogium – which does not has never produced them in large series before – with 3,000 jobs.
The amount of public subsidies for this project alone, which have yet to be validated by Brussels, has not been made public but would be between 1 and 1.5 billion euros, according to the newspaper “Les Échos”.
Also in Dunkirk, the Chinese XTC will build with the French Orano a factory for battery components and recycling for 1.5 billion euros.
Another flagship project, the establishment in Sarreguemines (Moselle) of a photovoltaic panel production plant by Holosolis, an offshoot of the European group Innoenergy, for 710 million euros, representing 1,700 jobs.
“For years, we have subsidized photovoltaic panels that were made at the end of the world, here we are going to have photovoltaic panels Made in France”, welcomed Sunday on franceinfo the Minister of Industry Roland Lescure.
Also in energy, the start-up Newcleo is announcing 3 billion investments over the period 2025-2030 to develop a small modular reactor of the SMR type.
Among other projects, the Swedish furniture giant Ikea announces 906 million euros of investment in France by 2026, including the creation of a logistics center near Toulouse (south of France).
In pharmaceuticals, Pfizer is injecting, as last year, an additional 500 million euros, while the British GSK announces 240 million investments on three production sites in Évreux (north-west), Mayenne (west) and Saint -Amand-les-Eaux (northern France), and more than 150 million for R&D.
The investments presented within the framework of “Choose France” however represent only a small part of the foreign direct investments (FDI) carried out each year in France. According to the Business France agency, 1,725 projects with mainly foreign capital were established in the territory last year.
Using a different methodology, the EY firm identified 1259, also in 2022, making France the most attractive country in Europe for foreign investors in terms of the number of projects.
The total amount of investments is calculated neither by Business France nor by EY. But the United Nations Conference on Trade and Development (Unctad), whose latest published figures are for 2021, placed France far from the podium that year, in sixth place in Europe with 14 billion dollars in IDE.