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France

French Economy

France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's tax burden remains one of the highest in Europe - at nearly 50 percent of GDP in 2005. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism.

2009 Exports from California to France

                                                                     Source: export.gov

French companies in the Bay Area

  • Being set up in the U.S. for French companies is the main step in order to become an international company. California is actually where the French population is the most important and many French companies have an office in San Francisco (there are 40,000 French people living in the city).
  • More than 50 percent of the French companies succeed in establishing a business in the Bay Area and can observe profits in the following year.
  • The Bay Area is a huge and very competitive market for French businesses.
  • Through Cap export, the French government helps new businesses in promoting employment, in taping new markets, and in building a strong export strategy.
  • The American government can provide some aids through the federal, state, or city governments.
  • San Francisco and the French capital, Paris, are sister cities, and they created the Digital Sister Cities Committee. Technology and Next Generation Networks have transformed the nature of the economy around the globe. The Digital Sister Cities initiative will help make the transformation meaningful for cities and their citizens economically, socially, and culturally.
  • In 2006, France was the twelfth most popular destination for California exports, accounting for 2.3 percent of all exports.
  • Based on available data, investors from France were the sixth leading foreign employer in California and ranked fourth in terms of manufacturing employment. France has traditionally ranged between the sixth and seventh largest foreign employer.
  • Estimated employment in French affiliates in California is more than 75,000 workers, which would put France in fifth place among investing countries.