2008 Report on DFI. Direct Foreign Investment Up 54%

Normandy is cashing in on its assets, now ranking fourth nationwide for Direct Foreign Investment. Close-up on a report based on a national, local and regional network.

In the current world economic crisis, Normandy’s report on direct foreign investments highlights an outstanding rise, with some 31 completed projects and 2,729 jobs that were either created or maintained in 2008 vs. 1,773 in 2007.

This performance has propelled Normandy to fourth rank, behind the Ile-de-France (8,300 jobs), Rhone-Alps (3,586 jobs) and Nord-Pas de Calais (3,159 jobs) regions, as announced this morning by Minister for the Economy, Industry and Employment Christine Lagarde.

The attractive power of Normandy for foreign investors has become a well-established fact. Its numerous assets (maritime front, industrial fabric, public and private research facilities, quality graduate and post-graduate schools, or its strategic geographic location) have paved the way to a 54% rise of investments by foreign companies compared to 2007.

“Thanks to this report, the attractive power of France, and in its wake Normandy, will be strengthened in the international arena. The classifications, which are reproduced in international studies, have a strong impact on investors’ decision-making when making their first tender selections for future locations,” said Laurent Manière, Normandie Développement’s Executive Director.

Normandie Développement with the support of the Upper and Lower Normandy regions is in charge of promoting, prospecting for, and providing corporate services to international investors in Normandy. It also monitors foreign capital companies set up in the region. It is the exclusive Partner of the Invest in France agency in the region. Working with local stakeholders, Normandie Développement compiles all the data on foreign capital companies in the region, for the report.

The Origin of Investments in France

 Although European businesses still account for most foreign investments in Normandy (53% in 2008), North American companies account for 31% of the number of projects (9 projects), a sharp rise compared to 2007 (3 projects in 2007).
 Asian firms account for 13% of the number of projects in 2008 compared to 4% in 2007.
 In 2008, the United States (followed by Sweden with 544 jobs) were still the leading foreign investors in Normandy, with 864 jobs created or maintained.