With a budget of €100 billion, including €40 billion in funding from the European Union (from the “Next Generation EU” Plan), “France Relance” has a clear strategic objective: to start building the France of 2030 by transforming the economy, with a focus on three key areas:
- Supporting the transition to a greener, more sustainable economy: Ecological transition: €30 billion ring-fenced.
- Creating the most favorable conditions for companies to grow their business and protect jobs: Competitiveness: €34 billion ring-fenced.
- Ensuring solidarity between generations, regions and all French citizens: Cohesion: €36 billion ringfenced.
Shaping france as the most competitive, innovative and carbon-neutral economy
“France Relance” will enable the country to “transform the crisis into an opportunity, by prioritizing investment in the most promising areas that will form the economy and jobs of the future” (Emmanuel Macron, President of France).This confirms the French government’s strong desire to boost the competitiveness of the French economy and offer a fertile environment for innovation, so as to encourage new foreign direct investment in France.
This pro-business strategy will continue to be pursued alongside the major structural reforms already undertaken since the start of the president’s five-year term, which target labor law flexibility and predictability, vocational training and tax burden reduction.
The “France Relance” initiative paves the way for tangible, far-reaching initiatives that will benefit businesses. The aim is to offer them an ever more competitive business environment that encourages firms to set up in france, while placing an emphasis on skills development to train and support young people and employees in the strategic professions of tomorrow.
“France Relance” marks the launch of structural measures to transform the french economy by placing innovation in all its forms at the heart of its recovery, through widescale investment in the sectors with the brightest future. The stimulus plan positions the digital economy and the environment as two key drivers of this transformation. Digitalizing private and public ecosystems, greening industrial processes and clean mobility are just three of the areas offering modernization and development opportunities for businesses operating in france.
Launch of the French recovery plan – September 15, 2020