Trade unions are not the devil they are partners

The economy Minister, Christine Lagarde, opened yesterday evening at La Baule (Loire-Atlantique) the seventh edition of the World Investment Conference, calling foreign investors in trouble in a dialogue with the unions, and elected officials. Companies that have experienced social conflicts in recent months (Continental, Caterpillar...) "are often held by foreign investors." I do not think that either a fatality, it explained. Trade unions are not the devil, they are partners. "And local elected officials are also"be supportive when occurs a restructuring, continued Christine Lagarde. "Keep in mind these two specific features when you want to invest in France".

Published this morning, the barometer of Ernst & Young attractive reveals that Western Europe place this year at the forefront of the most attractive regions for investment: it is cited by 40 of 809 leaders surveyed in February, or a gain of 7 points from 2008. The Eastern Europe comes behind (39), while China loses 14 points in one year, cited by only 33 of those polled, while the India gives 10 points, cited by 20 of the leaders. "Investors now prefer the stability of the financial system, the infrastructure, the quality of the workforce", decrypts the entourage of the Minister.

German competition

Which would explain, despite the crisis, the stability of the registered projects in France early 2009 by the French Agency for international investments (Afii), indicates Bercy. Fundamentals on which the Minister of economy intends to capitalize: it defends this morning at the OECD structural reforms carried out in France. In Europe, and on a slightly different field of Afii (read here), the France, reveals Ernst & Young, retained its position as second destination for foreign investment in the number of announced projects, 523 ( 3), behind the United Kingdom (686), last year is also happy with the Government.

Several elements of the barometer 2009 however underline the fragility of the France and the Europe. The horizon of three years, the Western Europe is always cited by 40 as one of the most attractive regions, but it happens more than in fifth position, behind the Eastern Europe (cited by 52 of respondents), China (51), India (48) and Russia (41): past crisis, investors lose sight of growth of the emerging potentials.

Especially, French positions seem more and more threatened by the Germany, which recorded last year 390 settlements, an increase of 28, observes the barometer. The market share of the France in Europe is eroding as 1 point, 14, when it progresses from German, 2 points to 10. A more qualitative, three quarters of the 206 leaders interviewed on the France make confidence to deal with the crisis. But they feel, to 43, that the Germany is the European country which has the most assets out of the crisis, far ahead of the France (13) and United Kingdom (11). "In the beginning of 2009, respondents are 45 to estimate that the Germany is the most powerful competitor of the France, while 29 in 2008", yet note Ernst & Young.

The leaders, who see in France of the reserves of growth in the sectors of energy, and the "utilities" in the "écoactivités" to advise "develop the culture of innovation" and implement "innovative business-friendly taxation." The Government, which sells the reform of the tax credit research (CIR) and the poles of competitiveness must therefore continue its efforts to promote. In a context of crisis where large investments should not arrive, it will seek to consolidate the positions. He expects the result of an investigation by the Afii with 300 leaders of foreign companies in France.