Posted on 05/27/2003 3:18:44 PM PDT by fightinJAG
United States #1 Investor in France
NEW YORK and PARIS, May 27 /PRNewswire/ -- The United States maintained its position as primary investor in France, providing 33% of the total number of Foreign Direct Investment (FDI) projects in France in 2002. The FDI figures were announced in Paris last week by Clara Gaymard, Ambassador at Large, Special Representative of France for International Investment and Chief Executive of the Invest in France Agency (AFII).
From the 143 investment projects coming from North American-based companies, 5,861 jobs were created. While this figure is down considerably from 7,959 in 2001 -- a reflection of the struggling U.S. economy -- it contributed significantly to the total of 22,861 jobs created in France in 2002 through the 438 FDI projects identified.
The largest North American investment project of the year was the "Crolles 2" R&D center established near Grenoble by Motorola, Philips, and STMicroelectronics. This $3.5 billion joint project will provide an international center of excellence for nanotechnologies, and was just one of the many projects ranking France as the location of preference for foreign R&D investment in 2002.
Following the United States, the main investors in France over the year were Germany, Italy, and the U.K., in that order. While the year 2002 witnessed an overall decline in the number of new technology projects, investment in French industries was up. The Automotive sector in particular remained the top-performing sector in France, with 4,305 jobs created -- a stunning growth of 57.8% since 2001. IT Hardware and Electronics Equipment followed in second creating 2,524 jobs.
For a detailed report of the 2002 FDI results in France, visit: http://www.ifana.org .
AFII, with its overseas network, Invest in France Agency, is the French government agency for international investment. Invest in France Agency North America provides US, Canadian and Mexican executives with customized, confidential, complimentary services and information. Its mission is to help North American companies find the most profitable and competitive solution in France for their business in Europe.
Motorola?!? Trust me, France is being punished. Motorola is as helpful, insightful, and useful as an anvil is to swimming.
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