For five years, France has been the leader in investment attractiveness in Europe. The symbol of this domination is the annual “Choose France” summit, attended by business representatives from around the world and announcing further investments on the Seine.
Big business is located on the Seine
The event takes place in Versailles. This year, during the summit, heads of approximately 180 companies submitted a total of 56 projects. In particular, those related to artificial intelligence, decarbonization of the economy and medical research dominated. Their total value is over EUR 15 billion.
We are entering a completely different world where competition will be very fierce. We can only win if we have trusted partners
– said French President Emmanuel Macron during the summit.
The highlight of the event seems to be the announcement by American IT giant Microsoft. – We will invest EUR 4 billion in the development of world-leading artificial intelligence and data processing centers – said the company’s CEO Brad Smith during the inauguration of the summit. – Today we are announcing the largest investment in France in our 41-year history. This is a really important day, emphasized the president of Microsoft. However, no further details about it were revealed.
Amazon, Microsoft and many others have big plans in France
In addition to Microsoft, the world leader in online retail, Amazon, and the pharmaceutical giant Sanofi are also planning large investments in France. Jeff Bezos’ company said it would expand cloud infrastructure in the Paris area to support France’s thriving generative artificial intelligence capabilities and logistics infrastructure in the Auvergne-Rhône-Alpes region. We are talking about investments worth EUR 1.2 million. Thanks to them, approximately 3,000 jobs are to be created.
Sanofi, in turn, announced that it will invest over EUR 1 billion to create new production capacity for medicines and vaccines at three of its plants in France. – These are massive investments for the good of the French economy – rejoiced Emmanuel Macron during the summit.
The authorities in Paris argue that this is the result of President Macron’s pro-business policy. In a post on social media, the French president argued that this would not be possible without the reforms that have been carried out in France since 2017. He mentioned, among others, tax relief for scientific activities, new ecological industrial projects and investments in education.
Source: Gazeta
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