(Bloomberg) --

French President Emmanuel Macron unveiled a 30-billion-euro ($35 billion) plan to create the high-tech champions of the future and reverse years of industrial decline in the euro area’s second-largest economy.  

The plan, dubbed “France 2030,” foresees investing the funds over five years in sectors including nuclear and renewable energy sources, electric cars, semiconductors and robotics.

“I want us to look ahead and see our weaknesses and strengths,” Macron said in a speech at the Elysee Palace on Tuesday. “We need the country to produce more.”

France 2030 is the latest in the country’s long history of pumping public money into a hoped-for industrial renaissance. After the global financial crisis, then President Nicolas Sarkozy launched a 35-billion future investment program, which has been replenished three times. Macron said this plan was different because it would take greater risks and not rely on well-established industrial firms. 

Despite the various efforts by successive governments, the share of industry in the French economy has declined almost without interruption and France hasn’t recorded a goods trade surplus since 2002. 

Six months before the presidential election, Macron is under pressure to show he can reverse those fortunes, particularly in former industrial heartlands, where he struggled to win votes in 2017.  

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