France moves into top 10 rankings of investor confidence index
Paris - AFP
France has climbed the ranks of the most attractive countries for foreign investment and now stands in the Top 10 group of these countries, ranking number 10, according to the "AT Kearney" Foreign Investment Confidence Index published Thursday.
In 2013, France ranked 12th on the index, which this year was topped by the United States, China and Canada as the three most attractive countries globally for investors.
The latest evaluation cited progress in a number of areas of public administration as having given France a better reputation among foreign investors, after it had lost ground due to perceived obstacles to investment, particularly high costs and heavy bureaucracy.
"France reclaims its position in the top 10 this year, as the country embarks on an ambitious but politically fraught effort to increase its competitiveness, particularly by making public spending more efficient, the healthcare system more cost-conscious, and administrative processes simpler," the investor index evaluation said.
The French government welcomed the improvement in France's investment rating and noted it was the fruit of two years of efforts to streamline costs and reduce spending by the government.
"France, with its talents...is making ground every day in the global competition. This ranking shows once again that we should not blush because of our performance," said Trade Minister Fleur Pellerin, adding that France would take an "attacking approach, with a spirit of conquest" to find lasting economic growth once again