The social partners will launch a sovereign wealth fund for the economy, according to the president of the CPME.

He was answering questions from senators on the Economic Affairs Committee, and particularly a question from RDSE Senator Henri Cabanel, who asked him about the financing of companies, given that there are 6.500 trillion euros in savings accounts in France.

"I think we have a major challenge in creating a French sovereign wealth fund that invests in the French economy," replied the president of the second largest employers' organization.

"That's what we're going to do soon, already, between social partners, on a small sovereign wealth fund that we're going to launch next week," he indicated without further details, his entourage not wishing to give more at this stage.

For Mr. Reza-Tofighi, "we have a challenge which will also be an issue in the 2027 election, which is how we ensure that French savings are directed towards the French economy and that France can have sovereign wealth funds".

"Today we see that sometimes French companies are bought by foreign sovereign wealth funds, because we do not have control over these savings to finance the local economy, the mid-sized companies, the local SMEs," he noted.

"It is a matter of sovereignty - and it is not the role of banks - to have sovereign wealth funds that allow these companies to remain French," he said.

"In France, we also have investment funds (...) that enable SMEs to become mid-sized companies, supporting growth and managers," he recalled.

"We need to make this known more, and encourage companies not to hesitate to open their capital to French investment funds," he concluded.