Economy
Microsoft is investing four billion euros in France
Microsoft wants to invest money in the further development of cloud technology and artificial intelligence at its Paris and Marseille locations. photo
© Julian Stratenschulte/dpa
France is once again inviting people to the major investor conference at the Palace of Versailles. Well-known companies came – and they also brought money with them for the French economy.
The US technology group Microsoft wants four billion euros Invest in France. The money will flow into the further development of cloud technology and artificial intelligence (AI) at the Paris and Marseille locations as well as into the construction of a new branch in Mulhouse on the German-French border, as the Élysée Palace announced.
In addition to Microsoft, other companies also announced major investments at the “Choose France” investor conference in Versailles: The online retailer Amazon wants to spend around 1.2 billion euros and create several thousand jobs in France. The pharmaceutical companies Astrazeneca and Pfizer also promised several hundred million euros.
France expects a total of 15 billion euros to be pledged at the conference, spread across 56 projects in various technology areas. “Today we will break a new record,” wrote French President Emmanuel Macron on Platform X with a view to the conference. The investments collected are the result of tax reforms and innovations in key areas such as artificial intelligence, hydrogen and semiconductors. The meeting has been taking place since 2018 and raised around 13 billion euros last year.
According to an analysis by the auditing and consulting firm EY, France is currently the most attractive European location for foreign investment. However, in view of rising national debt, the French Minister of Economy and Finance Bruno Le Maire also announced austerity measures. The French budget deficit for 2023 was 5.5 percent, significantly higher than the estimated 4.9 percent.