French President Emmanuel Macron announced that his “Choose France” initiative has attracted investments totaling 15 billion euros since its inception in 2018. The statement was shared by Macron in a May 13 post on X.
“When an investor chooses France, it is good for employment and for the life of our regions,” said Macron, according to X. “This is why I support the strategy #ChooseFrance which has made France the most attractive country in Europe. We are going to break a new record today! 56 projects, 15 billion euros of investments and 10,000 jobs created!”
On May 13, Macron attended the 7th edition of the Choose France Summit at the Palace of Versailles, as reported in a press release.
In his post, Macron stated that reforms implemented following the launch of the Choose France strategy have yielded significant results. These include reduced corporate and production taxes, investments in innovative sectors such as artificial intelligence, and a system designed to attract highly skilled and mobile individuals who contribute to the reindustrialization of the French economy, particularly in future-oriented sectors.
According to CoinDesk, France has enacted legislation for the digital assets industry and extended an invitation to U.S.-based crypto companies seeking regulatory certainty to relocate to France. As of May 2023, seventy-four crypto companies were registered with the Autorité des marchés financiers (AMF). AMF Secretary General Benoît de Juvigny stated, “In France, we are proud to be pioneers” in terms of crypto regulations. This regulatory clarity offered by France starkly contrasts with the legal uncertainty faced by these companies in the U.S., where numerous participants in the crypto industry have either left or threatened to leave due to regulatory concerns.
Binance, recognized as the world’s largest crypto exchange based on trading volume, became the first major global exchange licensed to operate in France when it received a Digital Asset Service Provider (DASP) registration from France’s financial regulator in May 2022. This was confirmed through a Binance blog post. David Princay, CEO of Binance France, said in a statement that “The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML [anti-money laundering] will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market, which will be welcomed by users and the community in particular.”
As reported by Britannica, Macron was elected president of France in 2017 and was reelected in 2022. Prior to his presidency, he worked in the private financial sector at Rothschild & Cie Banque and served as France’s Finance Minister.
