Macron hosts 140 CEOs in pre-Davos charm offensive

The business-friendly president will host executives at the grand Versailles chateau near Paris for an event billed as a warm-up for Tuesday's opening of the World Economic Forum in the Swiss mountains.

Macron hosts 140 CEOs in pre-Davos charm offensive

World Bulletin / News Desk

President Emmanuel Macron's campaign for a "French Renaissance" kicks into overdrive Monday as he welcomes 140 multinational business leaders before this week's jamboree of the rich and powerful in Davos.

Several firms will use the conference to announce major French investments, with Facebook revealing early Monday that it will pour an extra 10 million euros ($12.2 million) into its artificial intelligence centre in Paris. 

Japan's Toyota is also due to reveal details of its 400 million euro ($490 million) enlargement of its Onnaing car factory in northern France, with Les Echos newspaper reporting the move will bring 700 new jobs.

A former investment banker, Macron has vowed to shake the French economy out of its torpor. 

In his first months in office he pushed through reforms to the country's famously rigid labour laws and slashed wealth taxes and levies on capital gains.

Economic growth has been forecast to rise to 1.9 percent in 2018 by the central bank, while the government has recently raised its prediction to around 2.0 percent -- still below the eurozone average. 

A survey by the US Chamber of Commerce and consultancy Bain & Company in November found a record 72 percent of US investors were optimistic about the French economy, a huge hike against 30 percent in 2016.

Güncelleme Tarihi: 22 Ocak 2018, 12:35
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