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Emmanuel Macron announces 30 billion euros for French industry

2021-10-12T11:08:46.041Z

France's president wants to modernize the country's industry with a huge start-up program. Investments are made in e-cars and a climate-friendly aircraft, green hydrogen and new nuclear reactors.



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Emmanuel Macron at the presentation of the “France 2030” program in Paris

Photo: LUDOVIC MARIN / AFP

French President Emmanuel Macron has announced a comprehensive start-up program for French industry. The state will invest 30 billion euros in the country's economy over the next five years, the president said in a speech to entrepreneurs and members of his government. Both small start-ups and large industrial groups should be taken into account, Macron promised six months before the presidential election.

The aim of the “France 2030” program is to promote industrial champions and innovations.

“We need a country that produces more,” Macron said.

Last but not least, the corona pandemic has shown how important innovation and industrial production are in the country - Macron referred to the lack of face masks at the beginning of the pandemic.

The investment program will give small, agile start-ups a key role in building the industrial future of France, alongside the established large corporations, Macron announced.

The 30 billion euros are to flow in addition to the 100 billion euros recovery plan that France launched last year to deal with the corona crisis, the majority of which will be used to promote a more climate-friendly energy policy.

Macron named some specific projects that should be funded by the investment program.

At its core, it is about the decarbonisation of the French economy and greater independence from the global economy.

The country should become a leader in green hydrogen by 2030 and build new, smaller and safer nuclear reactors.

The auto industry should produce two million electric and hybrid vehicles in the same year, and the first aircraft with low CO2 production should also be built.

fdi / Reuters

Source: spiegel

All business articles on 2021-10-12

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