Reviving France’s Industry

Whether it concerns ArcelorMittal, Michelin, Auchan, Casino, and perhaps even Vencorex and ExxonMobil: despite a renewed push for reindustrialization following the Covid-19 crisis, several sectors of the economy have been shaken by redundancy plans since last year. Facing what threatens to be a new phase of deindustrialization, synonymous with economic stagnation, it is crucial to stem and reverse this trend.

In this context, the reshoring of specific activities emerges as a strategic priority. However, the challenge is not only to preserve jobs in traditional industries, but also to create new ones in key sectors for the future. Among these, the decarbonization of industry opens up a field of innovation and economic growth, particularly in the automotive, chemical, steel, and energy sectors. Similarly, the development of new technologies, such as artificial intelligence and robotics, offers promising prospects for enhancing the competitiveness of French businesses.

These ambitions require massive investments, close cooperation between the State, businesses, and research stakeholders. Access to capital for SMEs and industrial start-ups, as well as the development of skills, for example, must be at the heart of this process. However this strategy cannot be considered outside the European framework. French ambitions must be part of a broader coordination with European industrial policies, in connection with the Green Deal, the Net-Zero Industry Act, and the goals of technological sovereignty. The industrial recovery also requires a collective response at the scale of the Union.