Medef summer conference: French business leaders react after Macron rejects leftist government

Published: Aug 27, 2024 Duration: 00:04:50 Category: News & Politics

Tags : france French politics French economy

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political uncertainty well that doesn't sit well uh with Business Leaders Let's cross to Yuka at the annual end of summer seminar of the French Business Leaders Association taking place at the lon racetrack in Paris and uh yeah that that uncertainty weighing heavily with no prime minister in sight yeah that's right well the two-day convention just wrapped up here and I did feel slight change in the atmosphere here from yesterday to today following the announcement by President macron actually many uh many Business Leaders seemed relieved or optimistic that the pro business environment of the past seven years would probably be maintained at least for now but with the political left calling for protests some voice some are wary uh about another potential polit uh social upheaval down the line now earlier the president of Med f Maran U seemed to welcome president's decision to prolong consultations to choose an next prime minister uh but warned that the that the current deadlock should not drag on obviously for too long given that the deadline for a new government to draft the 2025 budget bill is looming on October the 1st now with the with the uh amid geopolitical tensions as well as this unprecedented political crisis at home some business activities and decision making have come to a virtual standstill according to medf spot let's take a listen well uh the business environment is uh unstable you know with a um very big difference between the the the different activities for instance for building it's it's very critical very critical for consummation is not so good from the dissolution the N9 of June uh all all entrepreneurs have suspended their decision about employment about investment yeah and the question now is uh how uh the uh corporate leaders are feeling about uh the pro bus policies they've seen is it the end of it is it now going to be more of a tax raising kind of mood well many leaders actually seem optimistic that the most controversial policies of the left including tax hikes and the unraveling of the pension reform would never Garner enough support in Parliament to actually become law earlier I spoke with Lan samakan he's the president of business France a government-backed agency uh charged with promoting French companies and exports and attracting foreign business and I asked him about the current business climate well actually um you know all the foreign investor are aware that French president Emanuel Macon is very committed uh to keep our country very attractive so of course it's special and new in France because we are waiting for a new government but uh what happened yesterday was very important because the far left wing um was rejected as a possible government in France meaning that uh the politics in terms of attractiveness in terms of economic politics uh will remain the same or will remain uh attractive for foreign investor and this is very important because uh what we have done since now 2017 with the TRU France events uh are real success because um since now 2019 France is the top leader in Europe in terms of fdis and it's not um aard and because uh it's thanks to our French politics U tax politics and the labor reforms so this is why now France is so attractive and uh it will remain but France still does not have new government does not have a new prime minister so the president's decision yesterday only prolonged the political turmoil don't you think no yeah of course it's um you know when you're an investor you hate uncertainty so you need to foresee what's going to happen for the next years in France and this is no more so um some investor can wait we understand that but I just want to reassure them that the French President will remain French president until 2027 and uh and this is the most important because he really represents uh the attractiveness politics in France that was lan of business France and that's it from me from the MEF convention many thanks for that yuk reporting live from laaw racetrack in Paris

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