Press Release COMPETITIVENESS INDEX FROM THE WORLD ECONOMIC FORUM (WEF): THE FIRST VISIBLE IMPACTS OF FRENCH REFORMS IN FAVOR OF ATTRACTIVENESS Paris, September 3rd 2014 – The World Economic Forum, the “Global Competitiveness Report 2014 – 2015”, proposes a global competitiveness index placing France in 23rd position out of 144 countries. The stabilization of France’s ranking this year has halted the drop in competitiveness observed since 2010. France thereby ranks 10th place within the European Union. France has initiated major reforms and programs to better the business environment, with most notably the Job Security law that resulted from an agreement between key labor unions and employers, the new Investments for the Future program, and the establishment of the French Public Bank (BPI). “These measures improve the image of our economy and encourage us to continue with initiated reforms” declares Muriel Pénicaud, President of the Invest in France Agency, Ambassador for International Investment, and Managing Director of Ubifrance. In 2014, France registered an increase: - of ten places in the “Labor Market Efficiency” pillar, incorporating data measuring flexibility; of ten places ten places in the “Financial Market Development” pillar, incorporating data such as ease of access to financial loans. This ranking also highlights that France maintains its structural assets and offers competitive advantages: world-class infrastructure (8th place); a skilled work force and high-quality education system, recognized throughout the world (8th place for the quality of its management schools, 17th place for its quality of mathematics and science education); an “aggressive” business culture in adopting new technologies (17th place in the “Technological Readiness” pillar); efficacy of corporate boards, its “leadership” in innovation (19th place in the “Innovation” pillar) and the quality of its scientific research institutions (12th place); the size of the French economy (8th place for the “Market Size” pillar). International rankings have taken on a considerable importance in the making of an opinion for a given country, particularly regarding its economy. These rankings influence the decisions of investors and potential partners of French companies. Analyzing these results is essential to evaluate France’s competitive advantages in a global context. This is the exact purpose of the Invest in France Agency’s White Paper which deciphers the discrepancies between perceptions and the economic reality. For more information, please visit our website – www.investinfrance.org. Press Contacts: Cynthia Odsi, Press Officer: (tel) +33 1 40 74 74 15 [email protected] Séverine de Carvalho, Press Attaché: (tel) +33 1 40 74 73 88 [email protected] Invest in France Agency (IFA) promotes and facilitates international investment in France. The IFA network operates worldwide. IFA works in partnership with regional development agencies to offer international investors business opportunities and customized services all over France. For more information, please visit www.investinfrance.org.
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