Choose France Summit to draw €15b in foreign investment

The annual Choose France Summit, aimed at attracting foreign investment, is set to bring in €15 billion euros ($16.2 billion) this year, marking an increase from last year’s €13 billion, the French presidency announced on Monday, according to Reuters.

The event, inaugurated by President Emmanuel Macron, seeks to enhance Paris’ standing as a leading European business hub.

Despite facing challenges such as a budget deficit and slow first-quarter economic growth, France, the eurozone’s second-largest economy, has attracted investments for 56 different business projects in key sectors like technology, AI, and finance.

Tech giant Microsoft announced a €4 billion investment in France, while Amazon is set to announce a €1.2 billion investment.

Healthcare companies Pfizer and AstraZeneca also pledged investments totaling nearly $1 billion.

French Finance Minister Bruno Le Maire will host meetings with CEOs of major banks, including JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America.