Young Journalists Club | Latest news of Iran and world

News ID: 18231
Publish Date: 18:45 - 22 January 2018
TEHRAN, January 22 - France's President Emmanuel Macron is hosting 140 world business leaders in a bid to convince them to invest and hire in France — and to persuade the French themselves of the merits of his economic policies.

France's Macron hosts 140 world business leadersTEHRAN, Young Journalists Club (YJC) - Macron wants to promote his business-friendly policies, including measures to ease France's labor rules and tax changes that aim to attract foreign investors.

He is visiting Monday a Toyota plant in northern France before heading to the evening business event at the chateau of Versailles, in the presence of 15 French government ministers.

Macron's office said several companies will announce investments plans.

Japan's Toyota unveiled a 300 million euros plan ($367 million) to enlarge its Onnaing car factory, creating 800 new jobs by 2020.

"We kind of forgot this, but the French are very innovative. We must re-awaken this", Macron told employees during the visit to the factory.

Facebook will invest 10 million euros ($12 million) in its French artificial intelligence center. Other announcements will include a food production plant and a research center, some traditional manufacturers and some high tech projects.

CEOs or top executives from Coca-Cola, Google, JP Morgan and Alibaba are among those expected at the meeting.

Business leaders are stopping in France en route to the World Economic Forum in Davos, Switzerland, where Macron will give a speech.

Macron, a 40-year-old pro-European centrist who was elected in May 2017, argues his economic policies will make France stronger to face globalization.

His labor market measures, perceived by many as weakening France's hard-won worker protection rights, prompted a series of street protests last year. They are expected to start producing effects in the coming months.

Macron also promised to subsequently cut taxes on business revenue by 2022.

State statistics agency Insee last month raised its 2017 growth estimate for France to 1.9 percent, the highest in ten years.

Source: AP


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