France: 2nd leading European recipient of job-creating investment from Ireland in 2018 !
Paris, April 4, 2019. “The 2018 Annual Report: Foreign investment in France” released today provides confirmation of the renewed confidence foreign investors have in France as an investment destination.
The figures were revealed at a press conference held at the French Ministry for the Economy and Finance in Paris, by Bruno Le Maire, Economy and Finance Minister, Christophe Lecourtier, CEO of Business France, and Pascal Cagni, Chairman of Business France and Ambassador for International Investment.
Among the key findings of the report relating to Irish-France business relations:
Over 300 Irish companies employ more than 20,000 people in France. In 2018, 13 new Irish investment projects created or maintained 188 jobs in France.
In 2018, France was the second leading European recipient of job-creating investment from Ireland, attracting 23% of Irish projects in Europe, after the United Kingdom (43%) but ahead of Germany (10%).
The software/IT services sector was the leading sector for Irish investment in France by project numbers (31%), while the transport/storage sector generated nearly half of all employment generated by Irish investment
Irish companies in France have mostly set up in Nouvelle Aquitaine (44% of jobs created).
Among the key findings of the wider report:
A total of 1,323 investment decisions in France in 2018 – up 2% on 2017 (1,298) – created or maintained 30,302 jobs (compared with 33,489 in 2017).
Investments in new projects increased by 14% in 2018, with 741 new decisions, (compared with 651 in 2017), representing more than half of all investments (56%). This increase in investment in new sites reflects France’s growing attractiveness.
There were 500 investments involving expanding operations at existing locations, creating 15,588 jobs (i.e. 50% of all jobs created by foreign investments) in 2018 (compared with 551 projects and 12,855 jobs in 2017).
Foreign companies continue to invest in production/manufacturing operations, with 320 investment decisions creating or maintaining 11,295 jobs in 2018. Production/manufacturing operations were the leading contributors to employment, accounting for 37% of total employment and a quarter of all investments.
Investment decisions in R&D, engineering and design are constantly growing, up 3% year-on-year, accounting for 129 projects and 2,793 jobs in 2018 (compared with 2,282 in 2017).
European investments remain predominant: 61% of foreign job-creating investments in France in 2018 came from Europe, compared with 58% in 2017. The main investor countries in 2018 were the United States, which accounted for 18% of investments (same level as 2017), followed by Germany (14%), and the UK (9%).
“The improvement in France’s image is reflected in significant investments in industrial activities. Examples of foreign multinationals which are present in French industry include Collins Aerospace, US world leader in technology systems and solutions for the aerospace industry, which invested more than €18 million in the Occitanie region in 2018; Canadian company Robotiq, which designs and manufactures components for collaborative robots (robotic hands) and chose Lyon for its first site in Europe; and Japanese food group Takara Foods, which announced plans to invest €1.6 million in a ramen manufacturing facility,” said Christophe Lecourtier.
“France has shown that, on a global scale, it is punching above its weight in terms of innovation. R&D operations have grown year-on-year by more than 9% on average over the last five years, and now represent 10% of all investments. Furthermore, every year global tech giants such as Cisco, Google, and Facebook continue to strengthen their position in France,” said Pascal Cagni.
Business France is the national agency supporting the international development of the French economy, responsible for fostering export growth by French businesses, as well as promoting and facilitating international investment in France.
It promotes France’s companies, business image and nationwide attractiveness as an investment location, and also runs the VIE international internship program.
Business France has 1,500 personnel, both in France and in 64 countries throughout the world, who work with a network of public- and private-sector partners.
Since January 2019, as part of the reform of the state support system for exports, Business France has given public partners responsibility for supporting French SMEs and mid-size companies in the following markets: Belgium, Hungary, Morocco, Norway, the Philippines and Singapore.
For further information, please visit: www.businessfrance.fr
Download a summary of the report:
- Irish companies investment in France - 2018 (PDF, 101,3 Ko)
- (PDF - 101.3 kb)