Macron unveils moonshot $35 billion industrial revival plan

13th Oct,2021

Macron unveils moonshot $35 billion industrial revival plan



Emmanuel Macron, the president of France, launched a 30-billion-euro ($35-billion) plan to develop future high-tech champions and reverse years of industrial decline in the eurozone's second-largest economy.
The proposal, dubbed "France 2030," calls for investing the cash over a five-year period in areas such as nuclear and renewable energy, electric vehicles, semiconductors, and robots. France 2030 is the most recent example of the government pouring public funds towards a hoped-for industrial rebirth. Following the global financial crisis, then-President Nicolas Sarkozy announced a 35-billion future investment programme, which has since been refilled three times. This proposal is different, according to Macron, because it will take more risks and not rely on well-established industrial businesses.
Macron stated that he wants to build a "virtuous cycle to finance our social model — develop, manufacture, export."
He said the three key objectives of France 2030 are: building small reactors in France becoming the leader of green hydrogen, and “decarbonising” French industry.