Europe

Macron unveils $47 billion "France 2030" investment plan

PARIS (REUTERS) – French President Emmanuel Macron on Tuesday (OCt 12) unveiled a five-year, 30 billion euro (S$47.04 billion) investment plan aimed at fostering industrial champions and innovation.

“We must wage the battle of innovation and industrialisation at the same time,” he told a group of entrepreneurs, adding: “We need a country that produces more.”

Speaking six months before the presidential election, Mr Macron said his long-term roadmap, dubbed “France 2030”, would give a key role to small, agile start-ups in building France’s industrial future alongside well-established giants.

Pointing to a shortage of face masks when the Covid-19 pandemic first erupted, Mr Macron said the crisis had shown, on one side, a real vulnerability for all, and, on the other side, how crucial innovation and industrial production close to home are.

“We must rebuild the framework for productive independence for France and Europe,” he said.

The 30 billion euros come in addition to a 100-billion-euro recovery plan announced last year to help France weather the coronavirus pandemic, a large share of which went to promoting greener energy policies.

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