Future Europe Series: Latest report aims to support French investment in Victoria

Future Europe Series: Latest report aims to support French investment in Victoria

The latest report out of the Future Europe Series delivered by RMIT Europe and the State of Victoria’s European Trade and Investment office, has made recommendations in skills and talent, innovation and digitalisation for French companies investing in Victoria, Australia.

The new report – Building for the future: France and Victoria, Australia (PDF 696KB) brings together insights from industry, government and academic leaders in France and Victoria on the challenges and opportunities of the transition to a decarbonised economy in an increasingly digital world. 

The key recommendations made in the report include: 

  • Continuous upskilling and reskilling: To meet the demands of emerging decarbonisation solutions and processes, continuous upskilling and reskilling are crucial. A collaborative effort between the private sector, government and universities is essential to ensure that graduates are equipped with the necessary technical skills. 

  • Evolving organisational structures: Shifting demographics are reshaping talent expectations and values, with a greater focus on work flexibility, work-life balance and values-driven organisations. Companies must adapt and evolve to attract and retain top talent in this changing landscape. 

  • Achieving speed and scale in decarbonisation: Both government and industry must adopt a bolder vision, stronger commitments to decarbonisation, and greater follow-through on ambitious targets. Accelerating the transition requires greater scale and speed to mitigate negative and unintended consequences effectively. 

  • Facilitating knowledge exchange: To overcome complacency and existing constraints, the private sector, government and universities must collaborate to share good practices and knowledge. This exchange is vital for accelerating the transition to a sustainable future. 
Future Europe Series France - 1The latest report is the second in the Future Europe Series, following the recently published Building for the future: Spain and Victoria, Australia.

Gönül Serbest, Commissioner for Victoria to Europe, Middle East, Türkiye and Africa said that the report serves as a comprehensive resource for French companies interested in investing in Victoria’s dynamic economy and contributing to building its future.

“France is one of the largest foreign investors in Victoria, with French capital equal to $5.4 billion invested over the past six years, creating more than 1,300 jobs,” she said.

“Prominent French organisations such as the French National Centre for Scientific Research (CNRS) and electric utility company EDF have recently chosen Melbourne to establish their Australian headquarters, joining other significant investors in Victoria including Alstom, Air Liquide, CMA-CGM, Egis, Engie, FLYING WHALES, Keolis, Thales and TotalEnergies.

“Together with the insights of experts from industry, government and academia and in the context of France and Victoria bilateral relations, the Future Europe Series aims to shed light on the skills and talent, innovation and digitalisation needs as we transition our businesses and our society towards a sustainable future / decarbonised economy,” she said.

Untitled design - 2The report's insights were captured at the Future Europe Series event in Paris, France. L-R: Marta Fernandez (RMIT Europe), James Auger (ENS Paris-Saclay & RMIT), Gönül Serbest (State of Victoria’s European Trade and Investment office), Pierre Roy (CNRS), Megan Anderson (Australian Embassy in France), François Moreau (Randstad France), Sébastien Bougon (FLYING WHALES), Philippe Delleur (Alstom) and Nicola Jolley (NAB Europe & Australia France Business Association).

Professor Marta Fernandez, Executive Director at RMIT Europe, said the insights shared in this series highlight both the challenges and opportunities in making the low-carbon transition a reality.

“As RMIT University’s European Innovation Hub, we are committed to supporting the growing economic relationship between France and Victoria through partnerships in research and innovation, community engagement, education and talent solutions,” she said.

“But there is still much more that can be done.

“As we plan and build for a low-carbon future, both the private sector and public sector in France and Australia are being confronted with the challenges and the opportunities of making the post fossil-fuel economy a reality.

“Our efforts need to go beyond sustainable practices and look to regenerative futures as a way of renewing and revitalising social, economic and environmental systems. From there and together we can build the future,” she said.

The new report is an outcome of the Future Europe Series, an initiative of RMIT Europe and the State of Victoria’s European Trade and Investment office.

It is one of three reports, with further insights set to be published for Italian companies investing in Victoria.

Download the report

Story: Karen Matthews and Hannah Raymond

04 October 2024

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