France Secures $16 Billion in Foreign Investments at 'Choose France' Event

18 Jun, 2024

France Secures $16 Billion in Foreign Investments at 'Choose France' Event

This year's "Choose France" event has resulted in 15 billion euros ($16.2 billion) worth of foreign investments, according to the French presidency. This represents an increase from last year's summit, which brought in 13 billion euros in foreign investments. President Emmanuel Macron kicked off the event on Monday, aiming to enhance Paris' reputation as a leading European business center. Despite facing economic challenges, France is making strides to attract more foreign investments.

The 15 billion euros worth of foreign investments come from 56 different business projects. Key sectors for these investments include technology, artificial intelligence (AI), and finance. Major announcements at the event include Amazon's 1.2 billion euros investment and nearly $1 billion in investments from leading healthcare companies Pfizer and AstraZeneca.

Additionally, French Finance Minister Bruno Le Maire is hosting meetings with CEOs from major financial institutions such as JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America. The event highlights France's efforts to compete with top global financial hubs like New York and London, as it seeks to strengthen its position as a premier destination for foreign investment.