Emmanuel Macron Announces 30-Billion-Euro Plan To Re-Industrialise France.

'To Become A Nation Of Innovation Again': France Unveils Re-Industrialisation Plan

France also needed to invest heavily in medical research, Emmanuel Macron said. (File)

Paris:

President Emmanuel Macron on Tuesday announced a plan worth 30 billion euros ($35 billion) to re-industrialise France, saying the country should reclaim its crown as a global leader in innovation.

Speaking at the Elysee Palace six months before a presidential election and one month ahead of a UN climate summit, Macron said France had taken key decisions "15-20 years later than some of our European neighbours" and now needed "to become a nation of innovation and research again".

The spending was to address "a kind of growth deficit" for France brought on by insufficient investment in the past, he told an audience of company leaders and university students.

France, he said, needed to return to "a virtuous cycle" which consisted of "innovating, producing and exporting and in that way finance our social model" as part of a new "France 2030" plan.

Over the next decade, France would aim to become a global leader in green hydrogen, which companies and governments are increasingly putting at the centre of efforts to de-carbonise economic sectors that rely most on fossil fuels for their energy needs.

Macron singled out steel production, cement and the chemical sector, as well as truck, bus, rail and air transport.

He said that following the Covid-19 pandemic, "which put us face to face with our vulnerabilities", France had to work towards French and European productive autonomy.

France also needed to invest heavily in medical research, Macron said.

After the global Covid outbreak, French pharma giants were unable to come up with a vaccine, unlike biotech startups BioNTech and Moderna.

The aim was now for France to develop "at least 20" biotech drugs against cancers, as well as against emerging and chronic illnesses, including those associated with ageing, Macron said.

"We need to concentrate all our efforts on this objective," he said.

- A new revolution -

A French presidential official, who asked not to be named, said Macron had laid out the plan in the wake of the Covid crisis "which showed our vulnerability and our dependence on foreign countries in some key sectors but also the importance of innovation which can change everything."

French officials believe that France needs to act rapidly to close the gap and not surrender more ground to emerging powers, notably China.

French carmakers, which Macron said had suffered "cruelly" over the past 30 years, should redirect their efforts towards cleaner vehicles, with a target of putting two million electric or hybrid cars on the roads.

Macron said France would also invest 1 billion euros by 2030 in "disruptive innovation" to produce atomic power, notably by designing small-size nuclear reactors with improved nuclear waste management.

Disruptive innovation was also needed in agriculture, where two billion euros would be earmarked for new technologies, he said, especially in robotics.

France should start "a new revolution" in food production which should be "healthy, sustainable and traceable".

This would also rely on investment in "three revolutions" which he said were digital, robotics and gene technology.

Agriculture would become cleaner, phase out "some pesticides", enjoy greater productivity and develop "bio-solutions" that would be "more resilient and more solid", the president said.

Macron's plan also called for a boost in French deep sea exploration over the next decade.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

Related news
Climate change fuels drought, starvation worldwide - DW News.

Climate change fuels drought, starvation worldwide - DW News.

Six years ago, the UN set the goal of ending world hunger by 2030. Back then it seemed like an attainable target, but not anymore. It's now estimated that over 800 million people around the world do not have enough to eat. The island of Madagascar...

California Residents Getting Deliveries, Drilling Deeper Wells To Get Water.

California Residents Getting Deliveries, Drilling Deeper Wells To Get Water.

NBC News' Jacob Ward speaks to residents in rural areas of California about how the drought has impacted their water usage as the state struggles with supply.  » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of in...

Watch live: Boris Johnson visits scene of MP Sir David Amess’s death as two properties searched.

Watch live: Boris Johnson visits scene of MP Sir David Amess’s death as two properties searched.

Conservative MP Sir David Amess has died after being stabbed multiple times at his constituency surgery in Leigh-on-Sea. Police have declared the murder a terrorist incident and Prime Minister Boris Johnson and Labour leader have laid flowers at t...

Let’s stop talking about celebrity weight loss

Let’s stop talking about celebrity weight loss

Adele’s new single “Easy on Me” has dropped, but people are still talking about her weight loss more than her music. From Adele to Jonah Hill to Lizzo, it seems we can’t stop picking apart celebrities’ bodies, and it needs to stop, says CNN entert...

Live: Biden delivers remarks at 40th Annual National Peace Officers' Memorial Service - NBC News.

Live: Biden delivers remarks at 40th Annual National Peace Officers' Memorial Service - NBC News.

Watch live coverage of President Biden as he delivers remarks at the 40th Annual National Peace Officers' Memorial Service to honor fallen heroes. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and ...

3 46

Power Of Idol: How ‘BTS’ Changes The World From The Global Stage.

Power Of Idol: How ‘BTS’ Changes The World From The Global Stage.

Following their stellar performance and speech at the 2021 United Nations General Assembly, NBC News Now Anchor Aaron Gilchrist takes a closer look at why K-pop group ‘BTS’ is getting involved in global activism, and why it’s working. » Subscribe ...