The French Minister of the Economy and Finance spoke on Tuesday at the annual Paris Europlace conference. He expects the creation of 3,000 jobs by the end of the year in Paris, "a starting point" according to him. Bruno Le Maire insists on the urgent need for investment in the country and in Europe to finance the technologies of tomorrow.
"This is only a starting point". Bruno Le Maire, Minister of the Economy, Finance and Recovery, spoke in English this afternoon at the annual forum of Paris Europlace, the association promoting the financial centre.
For this international conference reduced to half a day, the audience was composed of about 100 people present on site at the Gabriel studio, near the Champs Elysées, and a good thousand spectators connected remotely.
Conducive environment for foreign investment
This "starting point"These are the 3,000 jobs that should be created in the Parisian financial sector by the end of the year. According to the minister, these creations should multiply in the coming months and years due to the favourable framework for foreign investments created thanks to Emmanuel Macron's commitment since his election in 2017. The President of the Republic has already mentioned the figure of 4000 additional jobs in 2022.
"The Brexit was a major setback for the European Union but also an opportunity. Thank you Brexit!"said the Minister before Paris Europlace.
A few hours earlier, Bruno Le Maire accompanied Emmanuel Macron to the inauguration of JP Morgan's new European hub in the heart of Paris in the presence of Jamie Dimon, Chairman and CEO of the American bank. The bank will employ 800 people in the capital by the end of 2022, as Finascope indicated on Monday morning: the result of staff transfers from London and local recruitment.
All over France
"The creation of jobs is not only in Paris but everywhere in France"He added that the total number of financial jobs in France was estimated at 360,000.
"The Brexit has reshuffled the cards for European financial centres! Paris is the only place to have attracted companies from the entire range of financial services, banks, insurance companies, management companies, trading platforms "he said.
Bruno le Maire said that efforts should be continued and that investments should be made right now in new technologies.
10, 20 or 30 billion needed
"We need a lot of investors and money to finance all the technologies of tomorrow, artificial intelligence, electric cars, semiconductors... We need cash right now, lots of it! I'm not talking about 100 million or 1 billion, but 10, 20 or 30 billion euros so that these companies can develop in Europe. This is a matter of urgency. How can we do this without finance and investors?"
In this regard, the Minister called for an acceleration of the construction of the Union of capital markets on which, he estimated, "we have failed so far because of the lack of decision on this key issue". France will take over the rotating presidency of the European Union on 1 January 2022.