France Is Open for Foreign Business

Regarding “France’s Economic Model Showing Signs of Stress” (Oct. 17), I have an important message for the foreign corporate executives who presumably find themselves the “target” of so-called French economic patriotism: France is ready and waiting to do business with you.

The concept of a closed, protectionist France is simply untrue. More than 4,000 U.S. companies have chosen to set up subsidiaries here, with additional arrivals every day. In fact, over the last three years France has welcomed more total foreign direct investment than any other country except for China and the U.S.

More than 900 French companies have been purchased by foreign entities since 1999 for a total price of $350 billion. An impressive 44% of the components of the CAC-40 -- France’s benchmark stock index -- is held by foreign investors.

One in three people in France’s private sector is employed by foreign companies. American companies in France represent $171 billion in corporate investments and support almost 550,000 French jobs, while French companies in the U.S. represent $43.9 billion in corporate investments and support almost 600,000 American jobs.

Is the French government working actively to safeguard French economic interests, as the story states?

Absolutely -- but our interests are to encourage an everincreasing flow of foreign investment and collaboration. That’s why we’ve recently passed more than 85 legal reforms -- including lengthening the infamous 35-hour workweek -- that make it easier than ever for international companies to come to France and to succeed.

Clara Gaymard

Ambassador, Special Representative of France for International Investment

President, Invest in France Agency

Paris