New campaign called 'Créative France' highlights the nation's strengths

France remains an attractive investment location in a difficult global economic climate. "Foreign investors acknowledge France's attractiveness as an investment location. After three years of relative stability, the number of investments in 2014 rose to 1,197, which created or maintained 29,822 jobs (20,308 jobs created and 9,514 maintained)," says Salim Saifi, Investment Director - Business France Middle East, in an e-mail interview with Khaleej Times.
"France is the fourth largest recipient of FDI stocks in the world and continues to attract investments in strategic business activities such as manufacturing and research. France is perceived to be increasingly attractive in a number of emerging economies such as India, China, Russia and the GCC," he adds.
With other countries wooing investors, France still has offers that make it stand apart. "France is at the heart of the European single market and a gateway to the MENA region. France offers several structural advantages, such as efficient public services, world-class infrastructure, a diversified technological base, a skilled and productive workforce and one of Europe's most dynamic demographics. France is also recognised for its quality of life," Saifi points out.
Adding to its attractiveness, France is focusing on key reforms to foster its economic competitiveness, set up tax-friendly rules and improve the welcome afforded to GCC investors.
"Today, France is home to more than 20,000 foreign companies employing around two million people. On an average, France welcomes 19 foreign investment decisions per week," he points out.
Saifi gives us a peek into the various investment opportunities in different sectors. "As long-term investors, funds are mostly investing in infrastructure, selecting trophy assets and securities. Meanwhile, small and medium businesses that have the potential for expansion globally are typically setting up through industrial acquisitions or technological partnership deals. UAE companies in France are concentrated in chemicals and plastics, engineering and construction, hospitality, fashion, logistics and retail. A large number of individuals have traditionally invested in real estate," he says.
In principle, there are no administrative restrictions on foreign investment in France. Whatever the business development strategy be, prospective businesses will find an appropriate legal structure in France. Investors can set up a permanent or temporary structure and enjoy full legal peace of mind; they are then free to drive their project forward in an inexpensive environment. For instance, foreign investors account for 46.7 per cent of holdings in the market capitalisation of the French stock exchange index (CAC 40 companies).
Business France is encouraging Emirati businesses to invest in France. "Our strategy is to drive investors to put France in their scope of investment. In the UAE, our investment team meets potential investors on a day-to-day basis to listen to their requirements and needs. We inform them on the regulations in France and select the best investment offers available for their operations in the several French regions. We organise meetings in France at the highest level and arrange site visits. As soon as they have settled, we pursue our service to make sure that their operations continue smoothly. We have very good relations based on a bilateral trust with investors."
France has appeal and creativity. To promote its attractiveness and support its export, the French government has launched a new campaign in October 2015 called 'Créative France'. "It is the story of a creative, unconventional campaign that highlights our country's full range of strengths, skills and savoir-faire. And for good reason, France is at the forefront of sectors such as technology, design, industry and education, to name a few," Saifi notes.
"France bucks convention while reaching for the top. Try France and you will adopt it! I invite you for further information to visit 'Creative France' dedicated website http://creative.businessfrance.fr," Saifi concludes.
suchitra@khaleejtimes.com