# Macron unveils 30-billion euro plan for innovation and industrial revival Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-10-12 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: France 2030: Macron unveils €30bn green innovation plan Meta Description: France aims to lead in green hydrogen by 2030 with investment in low-carbon planes, nuclear reactors, and innovation to decarbonise industries. URL: https://financedigest.com/macron-unveils-30-billion-euro-plan-for-innovation-and-industrial-revivalhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-10-12t103725z1lynxmpeh9b0g5rtroptp4france-economy-1736837584333-compressed.jpg) By Leigh Thomas and Benoit Van Overstraeten PARIS (Reuters) -France wants to be a leader in green hydrogen by 2030 and build low-carbon planes and small nuclear reactors as part of a 30 billion euro ($35 billion) investment plan, President Emmanuel Macron said on Tuesday. Macron said the road map, dubbed “France 2030”, would ensure France decarbonises its industry and brings innovation and production in key areas, from cars and biomedicine to semi-conductors, closer to home by the end of the decade. The [long-term plan](https://www.financedigest.com/uae-plans-long-term-economic-ties-with-israel-despite-political-strains.html "UAE plans long-term economic ties with Israel despite political strains"), outlined six months before the presidential election, was swiftly criticised by the opposition as electoral campaigning, but Macron said those targets were key to ensure France’s rank in the world. Pointing to a shortage of face masks when the COVID-19 pandemic first erupted, Macron said the [crisis had exposed real vulnerabilities and the crucial need for France](https://www.financedigest.com/swiss-franc-grapples-with-safe-haven-identity-crisis-after-credit-suisse.html "Swiss franc grapples with safe-haven identity crisis after Credit Suisse") to have innovation and industrial production at home. We must rebuild the framework for productive independence for France and Europe,” he said, adding that [innovation would be key](https://www.financedigest.com/determination-and-innovation-the-key-for-fast-growing-uc-firm.html "Determination and Innovation the Key for Fast Growing UC Firm") amid global competition for leadership and access to raw materials. “The winner takes all,” he added. Setting out some of the plan’s targets, [Macron said France](https://www.financedigest.com/in-troubled-france-no-honeymoon-for-re-elected-macron.html "In troubled France, no honeymoon for re-elected Macron") would by 2030 build a low-carbon plane, a small modular reactor as well as two megafactories for the production of green hydrogen. It would also produce large numbers of [electric vehicles](https://www.financedigest.com/tax-credits-for-eu-electric-vehicles-to-dominate-mondays-trade-talks-with-u-s.html "Tax credits for EU electric vehicles to dominate Monday’s trade talks with U.S"). We must wage the [battle of innovation and industrialisation at the same time,” Macron](https://www.financedigest.com/macron-le-pen-battle-out-on-cost-of-living-in-heated-runoff-campaign.html "Macron, Le Pen battle out on cost of living in heated runoff campaign") said as he outlined the plan to a group of entrepreneurs, adding: “We need a country that produces more. Macron said the plan will give a key role to small, agile start-ups in building France’s [industrial future alongside well-established corporate](https://www.financedigest.com/corporate-social-responsibility-within-the-festival-industry.html "Corporate Social Responsibility Within The Festival Industry") giants. CRITICISM Other 2030 objectives include investing in semi-conductors and beefing up innovation in the [French health](https://www.financedigest.com/french-vaccination-centres-vandalised-as-health-pass-is-introduced.html "French vaccination centres vandalised as health pass is introduced") sector, including biomedicine. On [top of the 30 billion euros in fresh public investment](https://www.financedigest.com/5-top-tips-in-investing-on-diamonds.html "5 Top tips in Investing on Diamonds"), some of which will already be included in the 2022 budget, French public investment bank Bpifrance will invest 4 billion euros in startups and innovative firms. This all comes in addition to a 100 billion euro recovery [plan announced last year](https://www.financedigest.com/3-factors-to-plan-for-in-2017-a-year-like-none-other.html "3 Factors to Plan for in 2017, A Year Like None Other") to help France weather the coronavirus pandemic, a large share of which went to promoting greener energy policies. The plan was harshly criticised by the opposition and environmental groups. A few months from the end of his mandate, the outgoing president commits [French money to restore his electoral image with promises which only bind his successor,” far-right leader Marine Le Pen](https://www.financedigest.com/macron-le-pen-clash-over-cost-of-living-in-french-election-debate.html "Macron, Le Pen clash over cost of living in French election debate") said on Twitter. “It’s ‘whatever the cost, I want to be re-elected!’,” she said. Matthieu Orphelin, a lawmaker who left Macron’s party two years ago said this was Macron’s “first campaign speech for 2022”, while environmental group Greenpeace [called it “a festival of false solutions](https://www.financedigest.com/redpalm-enhances-client-engagement-with-vias-advanced-call-routing-solution.html "REDPALM ENHANCES CLIENT ENGAGEMENT WITH VIA’S ADVANCED CALL ROUTING SOLUTION ") and wishful thinking. All these false solutions follow the same logic: constantly postpone the real (energy) transition and [continue to produce as if the planet’s resources](https://www.financedigest.com/uk-to-manage-water-resources-carefully-as-drought-continues.html "UK to manage water resources carefully as drought continues") were unlimited,” said Greenpeace France director Jean-François Julliard. (Reporting by Leigh Thomas, Benoit Van Overstraten, GV De Clercq, Myriam Rivet, Gilles Guillaume, Elizabeth Pineau; Writing by Ingrid Melander; Editing by Kevin Liffey and Raissa Kasolowsky) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---