French President Emmanuel Macron speaks during a news conference in Paris, France, June 10 2021. Picture: REUTERS/PASCAL ROSSIGNOL
The plan, dubbed France 2030, foresees investing the funds over five years in sectors including nuclear and renewable energy sources, electric cars, semiconductors and robotics. France 2030 is the latest in the country’s history of pumping public money into a hoped-for industrial renaissance. After the global financial crisis, then-President Nicolas Sarkozy launched a €35bn future investment programme, which has been replenished three times. Macron said this plan is different because it will take greater risks and not rely on well-established industrial firms.
Macron said he wants to create “a virtuous cycle — innovate, produce, export — to finance our social model”.