Norwegian investments in France
In 2024, Norwegian investments in France illustrated a strengthening of industrial and strategic relations between the two countries. With 14 announced projects, Norway positioned itself as a major European investor in France, making 2024 the second-best year on record, just behind 2023 (16 projects). These investments generated 298 jobs, representing a 29% increase compared to the previous year. Notably, 64% of the projects were expansions, reflecting the satisfaction of existing Norwegian companies in France and their long-term commitment to the market.
This dynamic is part of a broader strengthening of bilateral ties. In January 2024, France and Norway signed a strategic partnership agreement aimed at deepening cooperation in the areas of energy transition, digitalization, and European value chain development. This agreement confirms the shared ambition to build a greener, more resilient, and sovereign European industry.
From an industrial perspective, France continues to attract Norwegian investors. Of the 14 projects, 8 were focused on production or manufacturing, reinforcing France’s appeal for industrial activities. Several factors explain this interest: a highly skilled workforce, especially in engineering; a competitive and low-carbon energy mix; and France’s strategic location within the European Union, supported by world-class logistics and transportation infrastructure.
One flagship example is the investment by Mowi, the world leader in farmed salmon. The company committed €32 million to build a high-tech plant in Landivisiau (Brittany), with a projected capacity of 4,500 to 6,000 tons per year and 60 jobs expected between 2025 and 2026. This project demonstrates long-term confidence in the French market.
Environmental sustainability is also central to Norwegian investments in France. The two countries are natural partners in the green transition: France contributes industrial capabilities and a vibrant innovation ecosystem, while Norway brings expertise in low-carbon energy and maritime technologies. A notable example is the collaboration between Yara International, a global leader in fertilizers, and Lhyfe, a French pioneer in green hydrogen. Together, they aim to decarbonize Yara’s site in Le Havre, with a target of producing up to 60,000 metric tons of low-carbon fertilizer per year and cutting COâ‚‚ emissions by 75%.
These initiatives align closely with French industrial policies such as the France 2030 plan and the national hydrogen strategy, which offer a stable, supportive environment for sustainable industrial innovation. For Norwegian investors, this ecosystem matches their goals of green growth, industrial modernization, and creating value in Europe.
In conclusion, Norwegian investments in France in 2024 go beyond economic opportunity — they represent a shared commitment to building a green, competitive, and forward-looking European industry, through enhanced strategic cooperation.