The economic “attractiveness barometer” compiled by European consulting firm EY shows that France, despite the devastating coronavirus pandemic, continues to outpace Britain and Germany in investment projects and job creation.
The attractiveness barometer, unveiled on Monday, June 7, shows that during the pandemic, France retained the first place in the investment rankings, which it has held since 2019, despite a number of projects not implemented during the pandemic. The world.
In the Old World, investment as a whole fell by 13 percent in 2020, roughly the same proportion as during the 2008 financial crisis, when it fell by 11 percent. In the list of 985 global European investment projects, the share of France fell by 18 percent, but the Fifth Republic continues to lead both in terms of their number and in terms of jobs created – about 30 thousand. France has significantly improved its ability to attract foreign investment over the past three years, according to EY, and none of the country’s most expensive and large-scale projects has been put on hold in 2020, despite the sectors most affected by the crisis. such as aeronautics or tourism. On the contrary, investors welcomed Paris’ economic response to the crisis: 44 percent of European executives surveyed by the company felt the policy was more effective in France than in other countries.
Commenting on the news, French Minister of Economy Bruno Le Maire called it “an excellent result”, which, according to him, is the result of the economic policy of the French authorities since 2017. In accordance with the Pacte law, France saw a reduction in corporate taxes from 33 to 25 percent of profits, in addition, taxes on the extraction of raw materials were reduced, introduced in January 2021 as part of the country’s economic recovery plan. In general, sources in the French government noted, France “is creating a new stable and attractive tax system for companies.”
“Taxation is not everything,” explained Pascal Cagny, former CEO of Apple Europe and currently Ambassador for International Investment and President of Business France. “For investors, France is a large domestic market of 66 million people, with a very high savings, a digital revolution country that has undergone a turbo effect in recent years, with very good broadband quality and low energy costs. “
Source: Российская Газета by rg.ru.
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