In 2023, France benefited from 1,815 international investment projects, which should help "over the next three years" to maintain 1,391 jobs and create 57,863, according to figures released on Thursday, February 29, by the Elysée Palace.

These figures are better than in 2022, despite a slight change in the scope of calculation: Two years ago, France benefited from 1,725 investment decisions, representing 58,810 jobs. The revised scope now includes long-term projects or technological partnerships and involves 112 additional projects in 2023.

"Thanks to our reforms and our attractiveness strategy, France is attracting ever more international investment," Emmanuel Macron boasted on social media platform X, adding that it's good for jobs and the whole of the country.

In particular, investors are likely to appreciate the reforms aimed at reducing labor costs, the cut in corporate income tax from 33% to 25%, the €10 billion reduction in production taxes, and the "green industry tax credit" introduced as part of the green industry law passed in 2023.

Finally, the 2017 labor ordinances, which brought greater flexibility to employers, meet "one of the constant demands of companies, particularly foreign ones, when they wish to invest in France," the government stresses.

The France 2030 plan also appealed to investors, with 559 projects involved in four well-represented sectors: automotive and equipment suppliers; healthcare; mechanical equipment; and agriculture and food.

Americans remained at the top of the investor list in 2023, with 305 projects, or 17% of the total. But they weigh almost twice as heavily in terms of the proportion of jobs created (28.7%, or 17,000 jobs). Four European countries accounted for 60% of projects, led by Germany, followed by the United Kingdom, Belgium, and Italy.

The American Chamber of Commerce in France, AmCham, published a more mixed assessment on February 28, stating that France's attractiveness to American investors has worsened for the second year running, even though it retains its status as the most attractive country in Europe.

Among the "red flags" cited by AmCham are labor costs, the social climate, taxation, and administrative and regulatory complexity. "The simplification shock announced by President Macron in 2021 is needed today more than ever," explained AmCham president Natacha Rafalski.

In response to the study, the Elysée stressed that there would indeed be a slight drop in France's attractiveness, "to be viewed in the context of 2023, a complicated year for the global economy" but that the figures remained positive: The country enjoyed a 52% favorable perception among Americans, compared with 58% in 2022.

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