Macron announces 30-billion euro plan for investment and innovation
October 12, 2021, 11:09 pm

Macron announces 30-billion euro plan for investment and innovation

France-Eiffel tower/Pixabay

The US News reported according to Reuters, President Emmanuel Macron said on Tuesday, 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.

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 report said, the long-term plan, 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 to have innovation and industrial production at home.

He said: "We must rebuild the framework for productive independence for France and Europe," adding that innovation would be key amid global competition for leadership and access to raw materials.

He added: "The winner takes all."

Setting out some of the plan's targets, Macron said France 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.

"We must wage the battle of innovation and industrialisation at the same time," Macron 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 giants.

CRITICISM

Other 2030 objectives include investing in semi-conductors and beefing up innovation in the French health sector, including biomedicine.

On top of the 30 billion euros in fresh public investment, 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 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 said on Twitter.

She said: "It's 'whatever the cost, I want to be re-elected!"

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 and wishful thinking".

Greenpeace France director Jean-François Julliard said: "All these false solutions follow the same logic: constantly postpone the real (energy) transition and continue to produce as if the planet's resources were unlimited."

Source: usnews

HE Interior Ministers holds a meeting with heads and representatives of human rights organisations G20 leaders pledge to avert economic crisis in Afghanistan

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”