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"Choose France", Macron's initiative secures 15 billion euros from foreign investors

2024-05-14 14:36:28Kosova&Bota SHKRUAR NGA REDAKSIA VOX

"Choose France", Macron's initiative secures 15 billion euros

France has managed to secure a record 15 billion euros that foreign investors intend to invest in the country, from artificial intelligence to pharmaceuticals and energy, President Emmanuel Macron hosted the heads of global companies at the annual "Choose France" summit, held at the Palace of Versailles.

The French presidency said the investments include 56 different business projects and could lead to the creation of 10,000 jobs. Microsoft said it will invest 4 billion euros in France in its cloud and Artificial Intelligence infrastructure. In recent days, Amazon also announced an investment of 1.2 billion euros, to increase its logistics, as well as the cloud infrastructure of Web Services.

Among other groups planning to increase their presence in France, drug companies Pfizer, AstraZeneca, Novartis and GSK announced investments worth more than $1 billion together. Estonian high-powered energy storage firm Skeleton Technologies pledged to invest €600 million over five years and create 300 jobs.

Spain-based fertilizer group FertigHy planned to invest 1.3 billion euros in a low-emission hydrogen-based plant in northern France, creating 250 jobs.

France is positioning itself as a European AI hub and the investments will help build critical data infrastructure to support fast-growing start-ups.

The Microsoft president said the investment reflected France's commitment to a low-carbon energy program and Macron's business reforms. Government officials did not provide details on what financial and other public support has been provided, but the state offers tax credits for certain types of green investment and research and development.


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