Lobster, flat fish, cheese and strawberries for dessert. A light menu for a lively conversation, according to a participant. This Thursday, July 25 at noon, the President of the Republic received at the Elysée Palace about forty major French and foreign bosses. A meeting planned for a very long time on the eve of the opening ceremony of the Olympic Games. A way to work in depth on France’s “soft power” and its attractiveness. Among the French, Bernard Arnault, the president of LVMH, Sébastien Bazin, the CEO of AccorHotels, Alexandre Bompard (Carrefour), Christel Heydemann (Orange), Nicolas Namias (BPCE) and Nathalie Bellon-Szabo (Sodexo Live). Among the ranks of the major foreign bosses, we found in particular Elon Musk (Tesla), Lakshmi Mittal (ArcelorMittal) or the bosses of Coca Cola, Airbnb, Alibaba and Tik Tok.
A charm offensive two months after the big Choose France party in Versailles, which ended with announcements of record investments in France for just over 15 billion euros. Except that the political fuss caused by the dissolution of the National Assembly announced in early June and the result of the legislative elections that followed in early July have started to tarnish the image of France, a welcoming land, in the eyes of major international groups. So much so that the little tune of “Why France” is starting to be heard.
There is no question of the Elysée losing the credibility it has acquired in recent years with international investors. During his last television interview on Tuesday, the president repeated twice that preserving France’s attractiveness would remain his fight. The repeal of the pension reform, the 14% increase in the minimum wage and the increase in taxation on the NFP program could cool the desires of certain foreign groups.
Allaying fears
“For the time being, no project announced in May during Choose France has been cancelled or postponed. But it is true that all investors are waiting for the general policy statement of the future head of government. Any change in taxation will be scrutinised closely,” concedes Laurent Saint-Martin, the CEO of Business France. While affirming that “as long as Emmanuel Macron is still at the Elysée, France’s attractiveness is preserved”… A pious wish?
After a very short speech, a very relaxed question-and-answer session began. “The president took an ‘educative’ stance in answering questions about the national political situation,” said a major French boss. “He led the table and distributed the floor,” added Nathalie Bellon-Szabo. Above all, he tried to calm fears by stating that coalition governments were not an exception in Europe. The discussions quickly turned to geopolitics. “Some American bosses were worried about the climate of uncertainty four months before the elections in the United States,” said another participant.
Then the magic of the Games took effect. “Three-quarters of the discussion focused on the organization of the Olympic Games,” says Laurent Saint-Martin. Some of these big bosses will also be present at the opening ceremony. Another opportunity to make people dream about French genius.