As France hosts its foreign investment summit ‘Choose France’, it has secured investments and job opportunities from global firms including Amazon, Microsoft, Pfizer, Morgan Stanley and AstraZeneca.
On Monday, the ‘Choose France’ summit kicked off with the aim of attracting foreign investment and global businesses to the country. In 2023, the summit raised a total of $14 billion in foreign investments.
Amazon invests over $1.3 billion
Internet giant Amazon revealed that it will be investing over 1.2 billion euros ($1.3 billion) in its French operations. Moreover, it will create over 3,000 permanent jobs in the country.
This investment aims to increase cloud infrastructure in the Paris area, which will support France’s generative AI sector and logistics infrastructure. Moreover, a part of the investment will go to expanding Amazon’s logistics network, which now has more than 35 logistics facilities. This will increase the speed of delivery and reduce carbon emissions
Since 2010, Amazon has invested over 20 billion euros in France. In addition, it has employed over 22,000 permanent employees across its cloud and online retail businesses.
Microsoft invests $4.3 billion
In line with the growing demand for AI in France, technology giant Microsoft announced an investment of 4 billion euros ($4.3 billion) in the country. Microsoft also revealed that most of the investment will focus on the AI sector and setting up a data center in the city of Mulhouse.
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Pfizer, AstraZeneca invest nearly $1 billion
Ahead of the Choose France summit, healthcare companies Pfizer and AstraZeneca announced an investment of almost $1 billion in the country. Pfizer announced that it will be investing 500 million euros ($538.5 million) in France to support research and development. Meanwhile, AstraZeneca announced an investment of $388 million for its site at Dunkirk.
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