Paris – Alignment between businesses and government as well as an ‘overhaul’ of education and training are among the essential conditions for a successful ‘reindustrialisation’ of France, according to Michelin CEO Florent Menegaux.
In a recent article in Le Monde – the highlights of which was published 1 Dec by Michelin – Menegaux said the country could be revived sustainably under five conditions “that absolutely must be fulfilled.”
As a key condition, business and government need to be on the same track and “industry needs a stable regulatory and fiscal framework,” Menegaux said.
In addition, he advised: “The challenge is not to save industries and products whose future is threatened [...] We need to invest in sectors where France has a card to play on the world stage.”
The priority, here, should be given to “environmentally-virtuous activities with high added value,” the Michelin leader further commented.
Another key issue for the French industrial sector is around addressing change.
“Industry is like a living organism: if it doesn’t adapt, it will die,” said Menegaux, noting that Michelin needs to “constantly adjust” its industrial footprint to the realities of the market.
He went on to describe the European Union as “the only framework” in which France could preserve its competitiveness.
To enable the EU to protect businesses, Menegaux said, “ambitious common public policies and stringent technological and environmental regulations” will be needed.
The final piece of the puzzle is a successful “overhaul” of the education and training system in France.
“Success will require, among other things, the development of apprenticeships and ongoing training in new trades,” according to the Michelin boss.
In addition, there is “an urgent need” to align the economic sector more closely with the education system, “to make young people understand that industry can offer them a promising future.”
In conclusion, the French group’s CEO, stressed that “urgent action” was needed with respect to the five conditions.
Such a move, said Menegaux, would free France from “short-term contingency planning that has paralysed us for decades.”