Choose Outre-mer: a boost for the overseas economy

This was the aim of the Minister for Overseas Territories, Naïma Moutchou, who has made the economy her priority: to launch a genuine investment policy in the overseas territories. The aim is no longer simply to support the overseas territories in overcoming their constraints, but to attract more capital and bolster their economic development. Put simply, this means reducing the burden on the State by drawing on private investors.
To this end, Choose Outre-mer brought together over 150 entrepreneurs, French and international investors, economic stakeholders, business leaders and representatives from the overseas territories. The programme included business meetings, territorial stands, round-table discussions and job-matching sessions. In total, around a hundred projects representing nearly 6 billion euros in public and private investment were identified. These projects relate in particular to energy, infrastructure, waste management and recovery, decarbonisation, tourism, digital technology, the blue economy, the agri-food sector and the space industry.
Among the projects highlighted: €250 million for an energy recovery plant and industrial developments in French Guiana, €225 million for the modernisation of the Fort-de-France incinerator in Martinique, and €100 million for an energy recovery facility in Le Moule, Guadeloupe. Saint Martin is also included in this initial selection, with a €10 million project led by IDEX to build a compliant ‘meta-container’ for waste management.

From public support to private capital

Another significant announcement: the official launch of Outre-mer One, presented as the first impact investment fund entirely dedicated to overseas territories’ businesses. The first funding round, totalling €34 million, has already exceeded the target of €30 million. The Minister intends to go further and hopes to reach €50 million. The principle differs from that of aid or a grant: the fund takes a stake in companies deemed economically viable in order to help them invest, expand, recruit staff or enter new markets. Managed by INCO Ventures, it brings together public investors such as the State, the Banque des Territoires and the AFD, as well as private sector players. Projects relating to natural resources, economic and energy self-sufficiency, decarbonisation and social innovation are particularly targeted. It should be noted that the France 2030 programme has, for its part, already mobilised nearly €300 million in the Overseas Territories.
An agreement with Business France is also set to help overseas companies focus more on regional and international markets through training, market research and mobility initiatives.
‘Choose Outre-mer’ is set to become an annual event, with progress on the projects and investments announced being tracked from one edition to the next. The challenge will be to gauge how many of the billions of euros’ worth of projects presented in Paris will actually translate into investments, business development and jobs in the overseas territories.
A first regional edition has already been announced and will take place in New Caledonia early next year.