The Choose France summit, presided over by Emmanuel Macron, is set to take place for its seventh edition at the château de Versailles on May 13. This event, which has been dubbed a “small Davos,” aims to attract foreign investors by showcasing the economic and fiscal advantages of France. In 2023, a record-breaking 28 investment projects worth a total of 13 billion euros were announced at the summit. This year, the Elysée promises even higher performance, with over 15 billion euros expected for 56 new projects.
France has been named the most attractive country in Europe for foreign investments for the fifth consecutive year, ahead of the UK and Germany. This is seen as validation of the business-friendly policies implemented since 2017, including labor code reforms, the elimination of the solidarity tax on wealth (excluding real estate), and reductions in corporate and production taxes. This environment aligns with France’s strategy of industrial revitalization, as the country has been experiencing a resurgence in industrial activity and innovation.
The government’s focus on speeding up investment processes is evident in recent legislation, such as the “green industry” law passed in autumn 2023 and the new simplification bill presented in April. These laws aim to streamline legal procedures and reduce administrative delays to facilitate the availability of industrial land for new factory or mining openings. The stability and clarity of France’s policies since 2017 are emphasized as key factors driving the country’s industrial growth and attractiveness to investors.
The Choose France summit at Versailles will host around 180 foreign business leaders, including 20% from North America and 20% from Asia, in addition to over 60 French company executives. Gabriel Attal, accompanied by various ministers and European Commissioner Thierry Breton, will lunch with the foreign executives, marking the first time in seven years that a French Prime Minister has participated in such an event. Emmanuel Macron will attend a dinner in the Hall of Mirrors and lead discussions on decarbonization and artificial intelligence during the summit.
Overall, the Choose France summit serves as a platform for promoting France as a prime destination for foreign investments, highlighting the country’s economic strengths and pro-business environment. The event underscores the government’s commitment to attracting and facilitating international investments, as well as its ongoing efforts to strengthen the industrial sector and foster innovation. With a focus on simplifying regulatory processes and reducing bureaucratic obstacles, France aims to maintain its position as a leading destination for global investors seeking opportunities for growth and collaboration.
