On 4 February 2020, Franz Fayot joined the Luxembourg Government. He was appointed Minister for Development Cooperation and Humanitarian Affairs and Minister of the Economy.

The Prime Minister, Minister of State, Xavier Bettel announced that H.R.H. the Grand Duke had honourably discharged Mr Fayot’s predecessor, the previous Deputy Prime Minister, Minister of the Economy and Minister of Health Étienne Schneider, upon his own request.

After being sworn in, Franz Fayot officially took up his duties at the Ministry of the Economy. During an official handover ceremony in the presence of all the employees of the Ministry of the Economy, the responsibilities previously discharged by Étienne Schneider were officially handed over to him.