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FRANCE, despite General de Gaulle's campaign to keep "Europe for the Europeans," remains "a high-priority country in which to start a new busi ness." In fact, there have been more new investments in France recently than in any other Common Market country. The French want investments that introduce new technology, raise exports, reduce imports, help develop certain regions.
ITALY continues to have a "favorable" climate for foreign investment, and government policy is to encourage it. "Investments that will bring new technology are especially acceptable, likewise any investment in underdeveloped areas such as southern Italy."
SPAIN "welcomes U.S. capital warmly" and has a wide range of needs involving the creation of basic industries and a consumer economy. The government usually favors Spanish participation in U.S. ventures. Businessmen are warned that because of Spanish pride, incidents that would be minor elsewhere might lead to major failure in Spain.
The report finds that despite signs of prosperity, "Europe still lags far behind the U.S., and in truth the gap-the real gap-is increasing." Thus even greater masses of money are going to be added to the $12 billion in American capital already invested in Europe.