The shortage of masks and medical equipment at the beginning of the neo-crowning epidemic was a rude awakening to the French ideal of globalization. On Monday, August 31, under the leadership of the French Ministry of Economy, the French government launched the “Made in France” program to “reduce foreign dependence and repatriate strategic industries”. The Public Investment Bank (Banque Populaire de l’Investissement) has started accepting applications for “support for the return of strategic industries”. The government has listed five areas in which eligible companies can apply for government grants to encourage the return of production in priority sectors to French soil.
In order to revitalize France’s “industrial sovereignty”, the government has set aside 40 billion euros in support of French industry in the 100 billion euros revitalization plan to be released on Thursday, which includes 10 billion euros in tax breaks for production starting January 1, 2021. President Emmanuel Macron has pledged tax cuts to business owners to encourage them to return, and Economy Minister Le Maire has stated that “these taxes are harmful and have an expulsion effect on business”.
The economic, fiscal, revitalization, and industrial sectors have joined forces with the Banque de l’Investissement Publique (BIPF) to open grant applications to “all companies proposing strategic industrial reflows” in five main sectors: food, which diversifies supply and creates productive capacity; electronics; industrial necessities such as chemicals; pharmaceutical active ingredients and health; and mobile and 5G connectivity, among others, for a total of approximately €1 billion in grants to prepare for and look ahead to the future of France in 2030.
Specifically, companies within these five focus areas that wish to take back their processing plant operations outside of France, or wish to transfer some of their production activities carried out outside of France back to France, can apply for the grant by submitting an application and various supporting documents on the government’s website.
In June of this year, during a visit to a Sanofi vaccine plant, President Macron stated bluntly: “Everyone has seen that France, or Europe, no longer produces even seemingly ordinary drugs, and we must learn from this… This crisis of the neocrown epidemic proves to us that we must produce on French soil, on our continent, Europe”.
Currently, paracetamol on the French market is imported mainly from Asia and the Americas. In order to re-establish mass production of paracetamol on French soil, the government has been in dialogue with the top French pharmaceutical company, Seconal, among others. Seconal recently welcomed Macron at its cutting-edge technology workshop in Haute-Seine. The President cut the ribbon on the workshop and gave a politically significant speech. France has not only an ace in the hole, but also a future… France needs to work collectively to maintain the momentum of employment in industry, to provide tax breaks to French companies in key sectors, and to buy time and space for them to return,” he said. In the future, France will not only have to provide subsidies to industries facing difficulties, but will also have to increase its investment efforts”. In response, the CEO of Securcanser said, “The independence of health in France and Europe will be achieved through innovation and local investment by major companies, and Securcanser is ready to take up the challenge.
Recent Comments