Frédéric Genta and the Minister of State, Pierre Dartout, discussed initial ideas for making the Principality even more attractive.

To best develop the attractiveness of the Principality is the new mission assigned to Frédéric Genta, newly appointed Interministerial Delegate for Attractiveness and Digital Transition. This position reports directly to the Minister of State, Pierre Dartout.

The objective: to strengthen Monaco’s attractiveness and best meet the expectations of its residents, tourists, employees, investors and companies.

Several strategies are envisaged. Starting with a modernisation of Corporate Law in Monaco: “This is just one example, but Company Law is important with regard to start-ups. Is our current Company law geared to start-ups, especially in their development phase, which comes a year or two after their creation?” Pierre Dartout wonders.

Ideas on housing for workers

The question of housing for commuters is also being looked at: “Real estate constraints are very high, but Monaco knows how to be innovative.  (…)With two square kilometres, it is obvious that we cannot house all the people who come to work every day in the Principality.  We therefore have an extremely important challenge, which is to ensure that the Principality remains attractive for those who come here to work from Italy or France. We have ideas on this that will require extensive contacts with the French authorities.”

SEE ALSO: Why are so many French people choosing to work in Monaco?

Of course, strengthening digital will be at the heart of future projects: “I think that the digital transition is necessary and insufficient for today’s world,” Frédéric Genta explains. “I think that today, a company that comes to Monaco, that can enjoy the power of the cloud, without having to surrender its sovereignty, is a factor in the Principality’s attractiveness. Residents can apply for a card online, in several languages, have a digital identity and a one-stop shop, have an online medical appointment, in four languages… That contributes towards attractiveness!”

The Minister of State and Frédéric Genta also plan to use digital to meet companies’ demands, particularly in terms of recruitment.