Germany is now the primary investor in France, replacing the U.S. thanks to the increase in the number of investment projects by German companies.
The Franco-German Chamber of Industry and Commerce said this on Tuesday.
There were 1,607 projects for the relocation or expansion of German companies in France in 2021.
This showed an increase of 32 per cent compared to the previous year, creating 30 more jobs, the report said.
Around 4,500 German companies employ about 320,000 people in France.
France has become increasingly attractive as a business location due to conditions improved by President Emmanuel Macron over the past five year
He has also reformed the training market, according to the chamber’s chief executive, Patrick Brandmaier.
The companies appreciated the availability of well-qualified and trained skilled workers.
Also, firms willing to invest are welcomed and would be looked after in the French regions much better than in the past.
German companies also saw advantages in the geographical proximity of their neighbour.
The German companies were investing in production, research and services in sectors including mobility, health, ecological change and recycling and wholesale.
This is according to Marie-Cécile Tardieu, director-general of the state economic development agency, Business France.
As German companies were considered to be fairly demanding in France, their increased investment was seen as a special confirmation of French economic policy.
Germans are contributing to growth, employment and purchasing power in the neighbouring country, she said. (dpa/NAN)
