A record number of jobs generated by Nordic investors in 15 years!

France is the most attractive country in Europe for the 4th year in a row!

For the 4th year in a row, France is the most attractive country in Europe! According to the latest barometer on France’s attractivity released by EY, France attracted 1259 investment projects ahead of the United Kingdom (929) and Germany (832).

(source EY)

2022 is another record year for France in terms of international investment decisions. The annual report of Business France reveals that 1725 investment projects landed in France, a 7% growth compared to 2021. Thanks to these investments 58 810 jobs are being created.

The Nordic countries confirm their good investment dynamics in France by signing their second-best year in 2022.  97 investment projects have created 2263 jobs, a record number for 15 years! The reforms undertaken in recent years, which have led to a reduction in production taxes, a progressive alignment of the corporate tax rate with the OECD average and the simplification of labour law, are recognised by the Nordic leaders. In 2022, almost 2/3 of investments were new establishments according to Business France.

R&D and productions projects leading foreign investments

Despite a complex international environment, France maintains a high level of attractivity thanks to pro-business measures and the long-term strategic vision offered by the investment plan France 2030. As a result, 50% of the projects are new establishments.

France confirms its position as a country of innovation with 191 projects in research and development, a 23% increase compared to 2021. According to the Barometer of EY, France welcomed the highest number of R&D projects in Europe in 2022 and confirmed its leadership. France is seen as an innovative country by foreign investors, and it plays a significant role in their choice.

Industry is another driving force of France’s attractivity. According to EY, 4 out of 10 investment projects in France are factory establishments or extensions. With 547 projects, a 13% growth,  France remains the number one destination for production projects ahead of Turkey (256) and the UK (175). The report mentions that one of France’s main assets is the availability of decarbonised energy.

Learn more: Danish CEO explains why she would choose France rather than China to invest in production

Denmark, the leading Nordic investor in France

Since 2017, Danish job-creating investments in France have been growing rapidly. Last year, Denmark became the leading Nordic investor in France, a leadership confirmed in 2022! Indeed, 2022 is the best year ever for Danish investments in terms of jobs created or maintained, 942, and the second-best year ever for Denmark in terms of investment decisions with 43 projects.

Danish investors recognize France’s advantages and attractivity, as 86% of investments are new projects. Denmark’s results are largely driven by the opening of new stores, especially from the brand Normal, which accelerated its development in France last year. The health sector has been one of the driving sectors of Danish investments in France for many years, and 2022 does not break this rule. LEO Pharma has announced a new investment of €22.7 million and the creation of 45 jobs in its site of Vernouillet (Centre-Val de Loire) opened in 1965. Celebrating its 100 years, Novo Nordisk, a specialist in the treatment of diabetes, is investing €130 million in the Centre-Val de Loire region.

Sweden, the largest Nordic employer in France

In 2022, 35 investment projects came from Sweden, ranking the country as the second Nordic investor in France. These investments have created 955 jobs, placing Sweden just ahead of Denmark in terms of jobs. This result is driven by Ikea investments, which contributed to creating 373 jobs. Today, over 400 subsidiaries of Swedish companies are present in France, employing around 95 000 people. They are led by well-known Swedish groups such as Securitas, Volvo, Ikea, and H&M.

According to Business France report, France is the first European host country for Swedish investment projects. Swedish investments are more diverse than Danish investments, with production activities, decision centres and R&D centres being the top 3. Production and decisions centres account for 12 projects each, and R&D for 3 investment projects. For example, Trioworld Smålandsstenar AB invested €15 million in 2 new production lines on its site in Angers, specialised in plastic film recycling.

Learn more: Ericsson’s Head of France advises Nordic investors: “Don’t hesitate and run for it!

The rise of Norwegian investments

Driven by investment projects in the sectors of renewable energy and offshore wind energy in line with France 2O30’s objectives, Norwegian investments in France have risen sharply in 2022. With 12 investments creating 281 jobs, this is the best year ever for Norway. Compared to 2021, the number of investment projects grew by 71% and jobs created increased by 205%.

Learn more: Norske Skog’s CEO chose France to invest in a greener industry

The Finnish company Nokia pursue its investments in France

In 2022, 5 five new investments creating nearly 50 jobs came from Finland. The year 2023 is already looking better with Nokia’s announcement to increase further its presence in France. The Finnish company will expand its R&D centres in Paris-Saclay and Lannion (Bretagne) to develop advanced 5G and 6G. Thank to this investment, they will create up to 500 jobs.

Contact us for more information about your investment project in France!