President Macron Hosts Major Investment Summit, Securing Billions for France

Written by Camilla Jessen

May.13 - 2024 7:22 AM CET

Photo: Wiki Commons
Photo: Wiki Commons
France secured $16 billion in foreign investments during the 'Choose France' event.

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The French presidency announced that this year's "Choose France" summit is set to bring in 15 billion euros ($16.2 billion) in foreign investments, marking an increase from the 13 billion euros recorded last year.

The annual event, spearheaded by President Emmanuel Macron, begins on Monday and focuses on enhancing France's appeal as a prime European business hub.

Boosting Paris's Global Financial Standing

Amid concerns over France’s budget deficit and modest economic growth in the first quarter, the summit aims to bolster Paris’s stature against traditional financial leaders like New York and London.

Despite Paris traditionally trailing behind these cities, recent efforts have aimed at repositioning it as a competitive player on the global stage.

The latest Z/Yen survey in March still ranks New York as the top financial center globally, with London following.

Diverse Investments Across Key Sectors

The summit showcases commitments from 56 different business projects with contributions in technology, artificial intelligence, and finance.

Notably, Microsoft has committed to investing 4 billion euros in France.

Over the weekend, the French government also revealed that Amazon would commit to a 1.2 billion euros investment.

The healthcare sector also saw substantial investments, with Pfizer and AstraZeneca announcing investments totaling nearly $1 billion.

French Finance Minister Bruno Le Maire is scheduled to hold meetings with CEOs from top global financial institutions, including JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America.

These discussions are part of France's strategic efforts to foster deeper relationships with leading global companies and enhance its economic position.

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