Events
Lancement du premier club des investisseurs russes : un engagement fort !
Brazilian Investors Club
The Brazilian Investors Club took place for the fourth consecutive year on November 29, 2012. This business meeting between the world’s fifth and sixth largest economies was attended by nearly 60 participants invited by the Brazilian Embassy in France, the Brazilian Chamber of Commerce in France and the Invest in France Agency (IFA).
Yves Lapierre, Chief Executive of the INPI, Serge Boscher, Managing Director of the IFA, Demétrio Bueno Carvalho, Minister Counselor at the Brazilian Embassy and Philippe Lecourtier, President of the Brazilian Chamber of Commerce in France
Speeches by Mr. Demétrio Bueno Carvalho, Minister Counselor at the Brazilian Embassy, Mr. Serge Boscher, Managing Director of the IFA, Mr. Yves Lapierre, Chief Executive of the French Patent and Trademark Office (INPI), and Mr. Philippe Lecourtier, President of the Brazilian Chamber of Commerce in France, all highlighted the links between the two countries and the importance of developing them further.
These country-specific meetings enable the IFA and its partners to present the latest initiatives to improve France’s economic attractiveness. As the Brazilian Investors Club was held three weeks after the Prime Minister’s unveiling of France’s “National Pact for Growth, Competitiveness and Employment”, it was an opportunity to examine the major announcements that strengthen France’s competitiveness and attractiveness to investors. The Brazilian President’s official visit on December 11-12 also reflects the enthusiasm that exists for Brazil in France.
Fabienne Cadenat, TNS Sofres
France’s modern, innovative and technological capabilities are a key selling point for Brazilian investors, as are the 30,000 Brazilian citizens living in France, 3,000 of whom are students who have chosen to pursue their education here. In addition, there are a further 1.2 million Portuguese-speakers currently living in France.
The recent trip (November 19-23, 2012) to Brazil led by Mr. David Appia, Chairman and CEO of the IFA, and Mr. Lecourtier to promote the IFA/INPI “Say OUI to France – Say OUI to innovation” promotional campaign shows how important Brazilian investors are to France. During two seminars held in Campinas and at Fecomercio, Mr. Appia reminded his audience that France was Europe’s leading recipient of foreign industrial investment projects in 2011. He therefore urged Brazilians to consider France’s technological power. As for Mr. Lecourtier, he emphasized that “the conditions in France are much better than people think”. Brazilian companies are still largely unfamiliar with the French market and its key strengths, but they were ready to be convinced, and the “Did you know?” film contributed greatly to this effort by showing just how France is a dynamic and evolving country.
Serge Boscher, Managing Director of the IFA
“France is an excellent test market for Brazilian companies: success in France is a guarantee of success everywhere else in Europe”, added Mr. Boscher during the conference.
Mr. Lapierre reminded attendees that a strategic partnership between the INPI and the Brazilian Intellectual Property Office has been in operation since 2007 that provides further support for the establishment and protection of Brazilian companies in France. This creates a healthy environment for bilateral trade between the two countries and leads to innovative collaborative projects. As such, Brazil can benefit from French technologies to develop its own economy.
These various speeches were supplemented by additional technical discussions on employment immigration with Ms. Christelle Caporali-Petit, Project Manager at the Professional Immigration Office, Mr. David Jonin, Partner at Gide Loyrette Nouel and Mr. Servan Cazenave from Catenon.
To conclude this lively and highly informative meeting, Mr. Boscher reminded participants that the IFA opened an office in Brazil three years ago. Since then, Brazilian investments in France have doubled, with around 35 Brazilian projects recorded to date. These projects have been monitored both by Mr. François Rémoville, the IFA’s Project Director in São Paulo and Ms. Marie Piffaut, Business Development Executive at the IFA’s Paris office and the main contact person for Brazilian companies.
- Marie Piffaut, Business Development Executive at the IFA’s Paris office and the main contact person for Brazilian companies with Silvia Menasce from the Brazilian Embassy in France and a participant
Mr Boscher concluded his speech by nothing that ” the main reward for our daily work at the IFA is to hear of the jobs that are created by foreign investors in our country.”
Brazilian investors, you are welcome here in France!
First Brazil, then China!
China is one of the five countries to receive a visit from the “Say OUI to France, say OUI to innovation” campaign roadshow, which came to town on December 6-11. David Appia, Chairman and CEO of the IFA, traveled to Beijing for the occasion and then on to the roadshow’s last stop, Shanghai.
The IFA’s China offices were recently expanded and now include a team of nine people split between the main office in Beijing, Shanghai and Hong Kong.
As soon as Mr. Appia landed, he joined up with Mr. Pascal Gondrand, Director of IFA China, to attend a reception hosted by the Pays de la Loire region at the French Embassy in China to mark a visit from Mr. Jacques Auxiette, President of the Pays de la Loire Regional Council. Ms. Sylvie Bermann, the French Ambassador to China, opened proceedings by reciting a list of achievements through joint initiatives targeting the Chinese business community and lauded the IFA’s presence in Beijing.
Jacques Auxiette, opening speech.
The next morning, Mr. Appia sat down with Chen Jian, Vice-Minister of MOFCOM (Ministry of Commerce of the People’s Republic of China) with responsibility for foreign investment and economic cooperation matters.
The two parties highlighted their desire to maintain and strengthen the partnership between the IFA and MOFCOM and their mutual aspiration to carry out joint initiatives to make it even easier for Chinese entrepreneurs to invest in France. In a few short years, China has become a key international investor. The size of the European market is attracting Chinese investors and France is one of the leading destinations for these investments in Europe.
“There are more than 200 subsidiaries of mainland Chinese companies in France today, employing nearly 7,000 people”, noted Mr. Appia. When added to the ranks of Hong Kong subsidiaries in France, employee numbers rise to 12,000.
Both men pointed to the vast potential of bilateral investment between France and China since French companies are also investing heavily overseas, especially in China. The Vice-Minister concluded by reiterating the need to “continue fostering an environment that encourages bilateral investment, and which is mutually beneficial to both our countries”, and was quick to add that “China is eager to make many more investments and for that to happen we must keep talking and continue to learn more about one another”.
Next was a meeting with executives from the China Economic Consulting Corporation (CECC), which is supported by the think tank CCIEE (China Center for International Economic Exchanges).
David Appia, IFA Chairman and CEO
Lead-ins to the talk included a screening of the official campaign video and a presentation on its key topics, which then led on to a conversation about the positive health of Chinese investments. There are currently 18,000 Chinese companies investing in foreign countries and France is a popular location. In 2011, it was home to 13% of Chinese investment projects in Europe, making it the continent’s third largest recipient of job-creating foreign investment from China, with 23 such projects generating over 1,000 jobs!
Mr. Appia then attended a meeting with the local Conseillers du Commerce Extérieur de la France (French Foreign Trade Advisors), who for more than 110 years have been volunteering their experience to further France’s economic presence throughout the world. Mr. Appia opened his speech by recalling their leading role as invaluable torchbearers in the promotion of France’s investment attractiveness and the great importance of speaking to them personally about the current campaign seeking to further this mission in partnership with the INPI (French Patent and Trademark Office).
The first day of talks ended on an enjoyable note with leading figures from the Chinese Entrepreneur Club (CEC) at a dinner attended by a group of Chinese entrepreneurs. Guests engaged in lively conversations mainly about the excellent relations between China and France and the steady growth of Chinese investment in France.
The next morning the roadshow headed to a round table attended by a host of journalists from the top Chinese media outlets, including China Business Journal, Caixin Media and China Business News Daily, where they discussed the fundamental messages of the campaign being backed by Fleur Pellerin, Minister Delegate for SMEs, Innovation and Digital Economy. They also touched upon the French government’s most recent reforms to boost France’s competitiveness, including the “National Pact for Growth, Competitiveness and Employment” that Prime Minister Jean-Marc Ayrault unveiled on November 6.
Media round table for the launch of the "Say OUI to France - Say OUI to innovation" campaign in China
The pact, which increases France’s attractiveness for foreign investors, includes the renewal of the research tax credit, which was hailed by Mr. Appia: “Launched in 2008, 7,000 companies are currently benefiting from the research tax credit in France, which is the only country to offer such a generous measure”. Discussions with these journalists were also an opportunity to swap memorable success stories of Chinese companies setting up in France, including ChemChina/Bluestar, Lenovo, Weichai Power, Sinomac, ZTE and Haier, to name but a few.
The IFA then attended the 11th China Entrepreneur Summit, a key event to promote innovative companies. Around 40 new innovative companies attended the “Future Star Club” dinner, which included last year’s winners and 21 companies handpicked for their growth and innovation potential. Many members of the ICT and e-commerce communities were there, but there were also a number of firms from the manufacturing, healthcare and education sectors, among others. Guests also rubbed shoulders with the founders and CEOs of companies like Ctrip Travel Network, Chinasoft, Five Star and Sinomen Technology Limited.
David Appia at the Futur Star Club dinner organized for the 11th China Entrepreneur Summit
The IFA was a partner of the “Future Star Club” dinner, where Mr. Appia opened his presentation with the campaign video. He then delivered vital messages to the young innovative entrepreneurs in the audience. “France is a vibrant market and a global economic leader that is open to international investment and ready to receive large numbers of Chinese investments. In our country you will find an innovation-friendly environment, with 71 innovation clusters in a broad range of sectors that generate multidisciplinary partnerships”. He also made certain to tell the dinner guests about the special advantages France offers young innovative companies, which include reduced taxes and social security contributions.
David Appia meeting young innovative entrepreneurs in China
Mr. Appia also took the opportunity to announce the findings of the “Top 100 Global Innovators” study conducted by Thomson Reuters – which ranked France once again as the third leading country in the world for innovation, with 13 French companies and bodies in the Top 100 most innovative organizations in 2012 – before concluding with the campaign slogan “Say OUI to France, say OUI to innovation!”
The Beijing based IFA team meeting entrepreneurs
The roadshow then went on to Shanghai to meet with other influential Chinese media, including the Oriental Morning Post. Mr. Appia also met with a renowned economist from the Lujiazui International Finance Research Center at the prestigious China Europe International Business School (CEIBS).
Mr. Appia and Mr. Gondrand subsequently had a chance to travel around the Shanghai area to visit and tour Chinese companies (in a range of sectors: industry, energy, etc.) that have already invested in France. The meetings were a chance to strengthen old ties and remind all the companies that the IFA is available and remains committed to supporting them every step of the way.
Meeting a company based in Shanghai
This marked the end of the “Say OUI to France – Say OUI to Innovation” campaign roadshow, but the campaign itself continues, so stay posted to the IFA blog for more events in 2013!
“Say OUI to France – Say OUI to innovation” campaign in Brazil
The “Say OUI to France – Say OUI to innovation” campaign continued in Brazil from November 19 to 23, 2012. Mr. David Appia, Chairman and CEO of the Invest in France Agency, took part in two seminars, one in Campinas and the other in São Paulo.
These events enabled France’s economic attractiveness and openness to international investment to be promoted to an audience of company directors and journalists.
David Appia, IFA Chairman and CEO, launching the "Say OUI to France - Say OUI to innovation" campaign in Brazil
The presence of Ambassador Mr. Philippe Lecourtier, the Chairman of the Brazilian Chamber of Commerce in France, and representatives from IFA partner banks, consulting firms and law firms, along with the contributions from French innovating agency OSEO and the Chairman of the Brazilian company Innovatecs (which recently set up operations in Strasbourg), illustrated the wide array of stakeholders prepared to spread the word about France’s investment attractiveness.
Mr. Appia and Mr. François Rémoville, the Director of the IFA’s Brazil office, also met with executives from Brazilian companies that already have a presence in France and have created jobs in the country, including Embraer, Inpaer, Achos, Baskem, JBS, Eldorado and Osklen.
François Rémoville, Director of the IFA's Brazil office, at the launch of the "Say OUI to France - Say OUI to innovation" campaign in Brazil
These business leaders expressed their keenness to maintain and even expand their operations in Europe. Access to the vast European single market and the desire to take advantage of the continent’s immense technological potential were two of the factors often mentioned during the discussions. Ever stronger competition from Asia, not least in Brazil, also goes some way to explaining this renewed focus on expansion in Europe.
Several companies confirmed their intentions to make further investments into France. These projects will be supported by IFA personnel over the coming months.
“Say OUI to France” campaign launched in India and Canada
Following the launch on October 25, 2012 of the “Say OUI to France – Say OUI to innovation” campaign at the Massachusetts Institute of Technology by French Minister Ms. Fleur Pellerin, IFA Chairman & CEO Mr. David Appia attended the World Economic Forum in India on November 6. He was accompanied by Mr. Dominique Frachon, Director of the IFA’s India office. Mr. Appia used the occasion to promote the campaign in India and to meet with Indian investors interested by opportunities in France, as well as with the local business press. These public/press relations activities complement the media campaign rolled out through the written and online business press since the end of October. The launch in India also provided an opportunity to discuss the development of social networks (on Linkedin and Twitter) in this part of the world. Other initiatives are planned for the first quarter of 2013.
Discover some of the “Say OUI to France – Say OUI to innovation” campaign messages in this interview with David Appia, filmed during the WEF on India:
On November 13, the campaign continued in Toronto, Canada. The French Ambassador Mr. Philippe Zeller held a press conference to introduce the campaign, focusing on Canadian investments in France and on the latest measures to promote investment in France. Mr. Zeller was accompanied by Mr. Jean-Pierre Novak, Director of the Invest in France office in Canada, and by several representatives of the firm ACS (Alcohol Countermeasure Systems). The CEO of ACS, Mr. Félix Comeau, shared his very positive experiences of investing in France.
At the Franco-Canadian summit on “The future of digital content”, which was held in Ottawa on November 14, the Ambassador once again highlighted the “Say OUI to France – Say OUI to innovation” campaign in his introductory speech.
In Canada, the next leg of the campaign will take place in Montreal on December 6, when the Ambassador will again hold a press conference featuring a series of success stories.
As for Mr. Appia, he is currently in Brazil where he is taking part in a seminar on innovation in Campinas, before moving on to Fecomercio to present the campaign once again to Brazilian investors. We will shortly be publishing a new blog post, recapping his week in Brazil!
On Thursday October 25, 2012, at the Massachusetts Institute of Technology, Ms. Fleur Pellerin, the French Minister Delegate with responsibility for SMEs, Innovation and the Digital Economy, held an early breakfast meeting with the US technology press to mark the launch of the joint INPI/IFA “Say OUI to France – Say OUI to innovation” campaign. The meeting was held on the fringes of EmTech, a major international trade show on emerging technologies organized by the MIT TechnologyReview.
Fleur Pellerin, David Appia and Yves Lapierre meeting US technology press in Boston.
Ms. Pellerin was accompanied by Mr. David Appia, the Chairman and CEO of the IFA and Ambassador for International Investment, and Mr. Yves Lapierre, Chief Executive of the INPI. The meeting with journalists was interspersed with testimonies from representatives of Anaqua, Dassault Systemes and MathWorks.
Anaqua and MathWorks are two Boston-based firms which have already decided to set up business in France. “We are very excited by all the changes currently taking place in France” Ms. Priya Iyer, the Anaqua CEO, declared enthusiastically. In the course of the meeting, the Minister and the INPI Chief Executive informed her that a joint European-level agreement would soon be in place that will make it possible to file a single European patent instead of the 27 separate patents that are currently required within the European Union.
Priya Iyer telling about Anaqua's success story in France
Despite having an office in Paris, Anaqua has decided to locate its main office in Pau (south-west France). Ms. Iyer declared herself very satisfied with the choice – “We achieved growth of 40% in France last year” – while Ms. Pellerin reminded her audience that “France is open to entrepreneurs and innovation”. Ms. Valérie Ferret, the Dassault Systemes representative, pointed out that “Talent is important, but the ‘business ecosystem’ is also a determining factor when it comes to choosing location. And you will find both in France”.
After the meeting, the guests watched the press screening of the film made to promote the “Say OUI to France” campaign.
Fleur Pellerin meeting Sir Tim Berners-Lee, the inventor of the Web
Following this extremely rewarding breakfast, the Minister made her way to the W3C’s offices where she had the opportunity to speak with Sir Tim Berners-Lee, the inventor of the internet.
The campaign was officially launched at mid-day with a speech by the Minister to the EmTech conference. She immediately won over the audience when she declared that “France is committed to taking full advantage of innovation which it sees as an important lever for economic growth and sustainable development. In 2011, there were 6,502 firms in France’s innovation clusters, 588 of which were foreign-owned. The United States continues to be France’s largest investor. American investment accounts for nearly 150 new projects annually. Last year alone, these projects created more than 6,000 jobs. Companies such as GE and Google have also made the strategic choice to develop R&D projects in France. Technology and innovation-focused companies have found France to be a strong partner that recognizes the need to compete in today’s global economy.”
Fleur Pellerin speaking at the EmTech Conference
“Our approach to innovation has worked for big-name multinationals. And now we’re making it easier for SMEs and startups to get in on the action too. The aim of the campaign by the IFA and the INPI, that we are launching today, is to demonstrate that France really is a global leader, to show why today it represents an excellent investment opportunity for foreign investors, and at the same time to explain what companies need to succeed in France. The main focus of the campaign is R&D and innovation, and encouraging startups to choose France as an investment location. The “Say OUI to France” campaign is being rolled out in five countries selected for their world-class reputation in the areas of R&D and innovation, namely, the United States, Canada, India, China and Brazil.” The Minister concluded her presentation by pointing the audience towards the campaign’s website www.sayouitofrance-innovation.com which was going live at the same time.
The Minister then joined 15 scientific representatives and CEOs of US companies for lunch, which provided the opportunity for a very fruitful exchange of ideas and allowed her to highlight the role of the IFA which acts as a facilitator for companies wishing to set up business in France.
Fleur Pellerin meeting YEI representatives
Ms. Pellerin then met a number of representatives from the Young Entrepreneurs Initiative (YEI). YEI has launched a competition to encourage young US-based entrepreneurs to come and invest in France. The winners of the competition will receive a grant to help them set up business. The program also offers a vast network of contacts that will help the winners to successfully set up in France by creating new connections to streamline procedures and facilitate meetings with all those involved. During the meeting, the Minister was able to exchange ideas with entrepreneurs who make use of innovative technologies and was able to reassure them regarding the new Government bill regarding France’s research tax credit: the bill is expected to be passed into law in December and will be a clear improvement, as firms will be able to obtain the research tax credit in future for research projects that are already underway.
Fleur Pellerin visiting MassChallenge
Finally, the Minister wound up her very long day by visiting the premises of MassChallenge, a business incubator located at the very heart of MIT. The main purpose of this non-profit organization, mainly staffed by volunteers, is to help young startups grow. An annual competition is organized, which has many advantages for those taking part, as they all receive customized feedback from the panel members, while the 125 finalists have the opportunity to take part in a three-month program designed to speed up and facilitate the early days of their company. Each participating company is assigned a world-renowned mentor, offices are made available to them free-of-charge, and they then have the opportunity of working within a community of enthusiastic entrepreneurs. All this plus the support of a grant of almost US$1 million. Ms. Pellerin was accompanied by the 2011 MassChallenge competition winner, Léonide Saad, who explained to the Minister the significance of these types of initiatives by demonstrating to her the benefits of such a project.
Philippe Parfait (Invest in France New York), Philippe Yvergniaux (Invest in France North America), Yves Lapierre INPI, David Appia, President of the Invest in France Agency at the EmTech conference.
The day ended with the Ministerial delegation leaving for New York, where the Minister and Mr. Appia would meet with journalists from the US financial press to continue the promotion of the “Say OUI to France” campaign.
This is the signature to the new promotional campaign by the Invest in France Agency (IFA) and the French Patent and Trademark Office (INPI) launched on October 25 at the Massachusetts Institute of Technology at the Emtech conference by Ms. Fleur Pellerin, Minister Delegate attached to the Minister for Economic Regeneration, with responsibility for Small and Medium-sized Enterprises, Innovation and the Digital Economy, accompanied by Mr. David Appia, France’s Ambassador for International Investment and Chairman/CEO of the IFA, and Mr. Yves Lapierre, Chief Executive of the INPI.
To keep up to date with all the news from the campaign and the business environment in France, please consult the IFA’s twitter feed and LinkedIn group.
Japanese Investors Club: international mobility and collective bargaining in France
Another meeting of the Japanese Investors Club was held on October 1, 2012. The event, which was organized in cooperation with the Japanese Embassy in France, the Japan External Trade Organization (JETRO) Paris and the Japanese Chamber of Commerce and Industry in France (CCIJF), took place at the headquarters of the Invest in France Agency (IFA).
Mr. David Appia, Chairman and CEO, Invest in France Agency
France is the second leading recipient of Japanese investment in Europe. In his opening speech, IFA Chairman David Appia reminded attendees that Japanese businesses are particularly welcome in France because they take a long-term view and are keen to integrate into their host country and to keep pace with the times. France, for its part, is ready to listen to investors and has introduced various measures to meet their expectations as effectively as possible.
His Excellency Mr. Ishiro Komatsu, the Japanese Ambassador to France
His Excellency Mr. Ichiro Komatsu, the Japanese Ambassador to France, recognized France’s efforts to reduce the time taken to obtain residence permits and visas. He thanked the IFA and all French bodies for their work in this area. President François Hollande, in his speech at the Ambassadors Conference on August 27, 2012, reminded his audience that Japan was very important to France, and said that he was keen to revive the partnership between the two nations. There is no shortage of Japanese companies that have succeeded in France; one example is Toray, which laid the foundation stone of its new plant in Aquitaine on June 29 in the presence of David Appia and France’s Industry Minister Mr. Arnaud Montebourg. His Excellency Mr. Ichiro Komatsu recognized that the two countries complement each other both technologically and geographically. Japanese investment in France helps strengthen strategic partnerships as well as making both countries more competitive. JETRO Paris added that in France, Japanese investors also benefit from efficient infrastructure and financial help in establishing themselves.
Mr. Hitoshi Endo, Chairman of CCIJF’s Corporate Environment Committee
At the first round table discussion of the seminar, the panel members discussed issues relating to international mobility for Japanese managers and skilled employees. Mr. Hitoshi Endo, Chairman of CCIJF’s Corporate Environment Committee, began by presenting the findings of a survey he had undertaken among CCJIF partners regarding investment in France. The survey’s results confirmed that the most important issue for respondents was obtaining visas for employees and their families. In this regard, the creation of a ‘one-stop service’ by the French Immigration and Citizenship Office (OFII) has been particularly warmly welcomed. Following a circular dated August 3, 2012, one-stop services are now operating in the following eight départements: Paris, Hauts-de-Seine, Yvelines, Rhône, Haute-Garonne, Isère, Nord and Puy-de-Dôme. Employees and their families need only visit the OFII once, to complete a medical examination and collect their residence permits. The new system has cut waiting times for residence permits to no more than six weeks. A website has also been set up to provide information on economic immigration matters to foreign employees and executives: www.immigration-professionnelle.gouv.fr.
Ms Nathalie Hayashi of the OFII and Augustin Nicolle of law firm BCTG et Associés
Mr. Augustin Nicolle of law firm BCTG et Associés also gave an overview of the Franco-Japanese bilateral social security agreement. Employers need to complete form JF6 to ensure that their employees in France continue to have access to social security in Japan.
There followed a lively debate during which all the panel members sought to find solutions to improve procedures. For example, Mr. Pascal Gay, Secretary-General of Pilot, proposed that the OFII introduced “ambassadors” to facilitate communication between the French authorities and Japanese expatriates.
Sabrina Losio, Legal Expert at the Invest in France Agency
The second round table looked at the issue of collective bargaining in France, which is a matter of concern for many investors. Mr. Nicolas Lepetit and Ms. Sawako Furusho of law firm Bersay et Associés emphasized that, while it can appear rather technical and complex, France’s system of employee representation is, in fact, extremely useful. Rather than seeing them as opponents, employers should see employee representatives as their allies. This fosters dialog between management and the workforce and enables employees and employers to communicate more flexibly. Employee representatives have a duty to consult those they represent, but employers are under no obligation to follow their recommendations (unlike in Germany, where employee representatives and management must reach agreement). Collective bargaining enables employers to depart from strict legal requirements, thus making for greater flexibility. Furthermore, contrary to popular misconception, trade union membership is very low in France.
Ms. Valérie Delahaye-Guillocheau, head of department at the DGT (the French government’s Employment Directorate), also countered some preconceptions about French employees, pointing out that hourly productivity in France is higher than the European average. She also explained that arrangements for terminating employment contracts have evolved to meet the needs of both employers and employees. For example, termination of permanent contracts by mutual agreement is a simple scheme under which the authorities’ only involvement is to carry out a simple check prior to approving the termination.
Mr. Yojiro Okuno from Japanese company Nichirei illustrated Ms. Delahaye-Guillocheau’s comments. In 2010, Nichirei acquired French company Godfroy. Nichirei had always been interested in the French market, but felt it would be difficult to establish themselves there on their own. They therefore decided to buy a French company. They had to convince their head office using hard data and demonstrate that employee dialog was a positive factor. They chose Godfroy because the two companies shared a similar culture and similar working methods. The existing management team was retained, and Japanese personnel attend Works Council meetings to discuss issues with French employees. However, a few changes needed to be made to the company’s management. Mr. Okuno was happy to report that the Council “worked hand in hand with us so we could make all these changes together”. Mr. Lionel Godfroy was also just as enthusiastic, saying “It’s been a great adventure! I formed this company 30 or so years ago, and the baton has now been well and truly passed on. We are now an international group with an international customer base”.
At the end of the seminar, Ms Satoka Tonegawa from the IFA’s Japan Desk gave an overview of the IFA‘s role and a comprehensive update on Japanese investment in France. Japanese businesses are very active in France, with 42 Japanese companies headquartered in the country, mainly operating in the electronics and automotive sectors. Japan is France’s sixth-largest source of inward investment and is ranked ninth in terms of the number of jobs created in the country. “I hope investment will make the relationship between our two countries even stronger”: a happy conclusion that suggests the future is bright for Franco-Japanese partnerships.
Indian Investors Club: International mobility and technology partnerships
On July 12, 2012, the Invest in France Agency had the honor of hosting the latest meeting of the Indian Investors Club, in partnership with the Chamber of Commerce and Industry France-India (CCIFI) and with the support of the Indian Embassy in France. The director of the IFA’s India Office, Dominique Frachon, was also in attendance.
David Appia, Chairman and CEO of the IFA giving his opening address.
“At present, there are around a hundred Indian companies doing business in France, employing over 6,000 people” explained David Appia during his opening address. Indian companies have a major presence in new technologies and innovation, but India is well-placed to benefit further from France’s infrastructures, technologies and industrial capacity.
Over recent years, the balance of power in trade between the two countries has changed significantly. It is now a two-way relationship between equals. “India is no longer an emerging economy but an emerged economy” commented Dan Oiknine, President of the CCIFI. In a globalized world, India now has a better understanding of markets and business at international level. “India is a large vibrant democracy” noted H.E. Mr. Rakesh Sood, India’s Ambassador to France. India’s large middle-class population is also a young workforce.
H.E. Mr. Rakesh Sood, Indian Ambassador to France
Just like France, India is very active in the fields of R&D and innovation. As such, the two countries have everything they need to set up technology partnerships. India can also count on France’s industrial strength which, due to its strategic location, can act as an excellent point of entry for companies seeking to conquer the European and Mediterranean markets.
David Appia, H.E. Mr. Rakesh Sood, John Hadley and Dan Oiknine during the presentation of the PWC report into Indian investments in France.
However, for the time being, as illustrated by the PWC report presented to the Indian Ambassador during the meeting, France’s potential still goes largely unrecognized by Indian investors. The aim of this report is to present the openness of the French economy to foreign investors by highlighting all the measures that have been taken to stimulate investment – France’s research credit tax, centers of excellence and innovation clusters are key initiatives in this respect.
H.E. Mr. Rakesh Sood, Dan Oiknine and David Appia signing the agreement between the IFA and the CCIFI
The CCIFI keeps investors informed, promotes meetings between the French and Indian business communities and facilitates occupational mobility between the two countries. As a symbol of the increasing cooperation between the two countries, the IFA and the CCIFI have signed a partnership agreement to develop Indian investments in France.
Dr. Anupam Srivastava, Managing Director, Invest India
Invest India is also a very important partner for the IFA, as this organization also works to inform Indian investors about investment opportunities abroad by putting them in contact with local agencies.
Christelle Caporali-Petit, an official from the Economic Immigration Office
At the first round table, chaired by Fatia Bouteiller, a legal expert in economic immigration at the IFA, an overview was offered of the basic rules governing the expatriation of Indian investors and skilled employees to France. Christelle Caporali-Petit, an official from the Economic Immigration Office, announced the imminent opening of a one-stop service in five new départements. This service, which is highly appreciated by expatriates, will now be available in 80% of the most affected départements. Agnès Charpenet, a lawyer at Baker & McKenzie then gave a presentation of the tax breaks available to Indian expatriates in France.
Kapil Gupta, CEO of Deltronix
Kaptil Gupta, CEO of Deltronix, described the advantages that France offers Indian investors by recounting his own success story. In 2010 Deltronix acquired French company F2R, which subsequently made it easy for Deltronix to commence operations in France and Europe, while the merger of the two companies’ client databases allowed it to become a key international player in its field. In order not to unsettle F2R clients and suppliers, Deltronix chose to leverage the company’s French image, notably by maintaining its website in French and choosing a French director to run its subsidiary. Setting up business in France enabled Deltronix to learn different working practices by adapting to local markets where habits and customs are sometimes very different to those that exist in India.
Serge Boscher, Managing Director of the IFA and Sébastien Mantanus, Director of Development at Néva.
At the second round table dealing with technology partnerships, Sébastien Mantanus, Director of Development at Néva, informed investors of the advantages of France’s research tax credit, which is available to any company operating under French law that wishes to invest in R&D in France. R&D and innovation, as Florent Massou from France’s General Investment Commission (CGI) subsequently pointed out, are two of the main areas that are benefiting from the French government’s “National Investment Program”.
Kumar Kaleeswaran, Director of TCS France
At the end of this round table, Kumar Kaleeswaran, Director of TCS France, offered a practical presentation of the various technology partnerships that can be established. Thanks to the IFA, a “day for innovation” has been set up to ensure that Indian investors can obtain information about France’s economy and the investment opportunities open to them in the country.
John Hadley, Executive Director, Transactions, Emerging Markets Group, PWC
The conclusion of John Hadley’s presentation on behalf of PWC offered an excellent insight into Indian optimism for future business relations between the two countries and the attractiveness of the French economy to Indian companies: “France is a nice place to visit… and a good place to do business.”
The participants at the closing cocktail reception.
On June 21, 2012 the latest “Korean Investors Club” was organized at the Invest in France Agency (IFA), in partnership with the French-Korean Chamber of Commerce and Industry (CCICF) and the South Korean Embassy in France. As Mr. Serge Boscher, Managing Director of the IFA, pointed out in his opening address, this annual event is an opportunity to promote France’s investment attractiveness and is designed to be a source of inspiration to Korean investors, as well as a forum to resolve any issues they may have encountered along the way.
- Serge Boscher, Managing Director of the IFA
The South Korean economy is vibrant and innovative and makes significant investments in R&D. France and South Korea have long since been involved in joint technology partnerships, such as the Franco-Korean TGV and the Eurocopter partnership. South Korea is therefore well-placed to benefit from France’s technological advances, infrastructures and industry. France is a major industrial country and the creation of 71 innovation clusters has resulted in the development of a large number of collaborative projects with foreign partners in a wide variety of sectors.
- Joong-Ho Kim, President of the CCICF
Mr. Joong-Ho Kim, the new President of the CCICF, stressed the positive changes witnessed over recent years and the importance of the subjects discussed in the course of the seminar, which dealt with both the professional and personal lives of employees and their families.
- Jérôme Baron, Economic Immigration Office at the Ministry of the Interior
Every year in France, 20,000 visas are issued to enable economic immigration. This is double the number issued before the latest reforms, according to Mr. Jérôme Baron, in charge of regulations at the Economic Immigration Office at the Ministry of the Interior. In 2011, South Korea was ranked 14th for long-stay visas issued for France and 29th for work visas. The creation of one-stop services at the French Immigration and Citizenship Office (OFII) in 2011 in the Paris, Hauts-de-Seine and Rhône départements has contributed significantly to improving the conditions under which these residence permits are issued. The impact of this new system is still being assessed, but is expected to be very positive.
- Fatia Bouteiller, Legal Expert in Economic Immigration at the IFA
Ms. Fatia Bouteiller, Legal Expert in Economic Immigration at the IFA, also made an important point with regard to short stays for professional reasons. South Korean nationals do not require short-stay visas but must nevertheless still apply for a temporary work permit. For intra-group long-stay mobility, skilled employees, directors and their families can obtain either a “Skills and Expertise” residence permit or a European Union Blue Card. The EU Blue Card is a multi-year residence permit which is issued if an employee has a contract of at least one year. Any employee in possession of this new residence permit is exempted from the OFII tax and the need to undergo a medical examination.
Regarding social security coverage, a bilateral social security agreement has been in place between France and South Korea since 2007. PWC Landwell has established a Korean Business Group to advise its Korean clients on this subject, as each case is unique and not all foreign nationals are subject to the same regulations.
- Philippe Barthelet, Executive Vice-President of Samsung Electronics France
At the end of the first round table, the testimonial by Mr. Philippe Barthelet, Executive Vice-President of Samsung Electronics France, offered a concrete and positive vision of how to set up business successfully in France. Samsung has had operations in France since 1988, but it was only at the start of the 2000s that the brand really established itself in the French market, and today it is a leading brand. One of the keys to this success is the importance that the company attaches to the environment in which its employees work, where there is a constant focus is to improve management quality and intercultural training programs, as it is precisely these cultural differences that make Samsung the rich, diverse company that it is.
- Jean-Daniel Tordjman, Honorary Ambassador of the Republic of Korea for international investments and former Chairman
Mr. Jean-Daniel Tordjman, Honorary Ambassador of the Republic of Korea for international investments and former Chairman & CEO of the IFA, agrees with Philippe Barthelet on this point. In his opinion, the strength of the Koreans lies in the fact that they are open to other cultures and are extremely resilient. There are also things that Korea can learn from France, a country with a long tradition of creativity.
- Valérie Delahaye-Guillocheau, Head of Department at the French government’s Labor Directorate
The second part of the seminar dealt with the issues of flexible working, employee recruitment and social security organizations. Ms. Valérie Delahaye-Guillocheau, Head of Department at the French government’s Labor Directorate drew attention to the fact that the job market remains very strong in France, with an employment rate for 20- to 64-year-olds of 69.1% and labor productivity and levels of training above the European average. Since the reforms introduced in 2008, employers have benefited from numerous measures designed to ensure greater flexibility with regard to working hours, the implementation of contract terminations by mutual consent and exemptions for establishments to open on Sunday. There are also several different types of employment contracts that each deal with a specific requirement. In R&D, recruitment premiums have been introduced in recent years, in particular for doctoral candidates, with CIFRE agreements to subsidize employment contracts in addition to France’s research tax credit.
- Caroline Andre-Hesse, Partner at Altana
Ms. Caroline André-Hesse, Partner at Altana, then stressed the importance of employee representative bodies, and how they must be seen as a force for improvement within the company. Consulting with them, despite popular misconceptions, often results in reforms being implemented that are crucial at group level.
- Serge Boscher, Managing Director of the IFA and Yeona Jung, Managing Director of Louis Quatorze Paris
The round table was brought to a close with a testimonial from Ms. Yeona Jung, Managing Director of Louis Quatorze Paris. Louis Quatorze is a South Korean company that used to be French-owned and which decided that the way to expand in the European market was to return to its roots. Its luxury collection is now entirely created in France – an excellent example of a successful Franco-Korean collaboration.
Participants at the cocktail following the seminar
