French President Macron has announced that today will mark a new record in investments, with 10,000 new jobs for French citizens being created as a result. Among the major investors are technology giants Microsoft and Amazon, who are injecting billions of euros into the country. Microsoft is focused on artificial intelligence, while Amazon is investing in data centers and warehouses for its operations.
Morgan Stanley is also opening a new Paris office which will be its European campus, creating additional job opportunities in France. Other significant investments include a new plant by fertilizer producer FertigHy and commitments from pharmaceutical companies like Pfizer, AstraZeneca, and GSK. Switzerland’s KL1 and Germany’s Lilium are also contributing substantial amounts to projects in France.
Despite a decline in overall investment in the EU, France is seeing an uptick in foreign direct investment and has secured the most projects in 2023 according to an E&Y survey. However, the survey stressed that France must address issues such as competitiveness, social climate, and energy crisis to maintain its leadership in the long term.
A summit will be held in Versailles, attended by key business leaders from companies like ArcelorMittal, Goldman Sachs, Coca-Cola, Envision, China’s Fosun investment firm and sovereign wealth funds. Macron is set to have bilateral meetings with several CEOs and deliver a speech during a dinner at the Hall of Mirrors in the palace.
