financetom
Business
financetom
/
Business
/
France gets $16 billion of foreign investments as part of 'Choose France' event
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
France gets $16 billion of foreign investments as part of 'Choose France' event
May 12, 2024 10:16 PM

PARIS (Reuters) -This year's "Choose France" event - an annual summit aimed at attracting foreign investment to France - will result in 15 billion euros ($16.2 billion) worth of foreign investments, up from last year, said the French presidency on Monday.

That amount represents an increase from last year's summit, which brought in 13 billion euros worth of foreign investments.

President Emmanuel Macron kicks off the event on Monday.

The summit is aimed at burnishing Paris' reputation as a leading European business centre as France - the euro zone's second-biggest economy - faces headwinds over its budget deficit and tepid first-quarter economic growth.

Paris has also traditionally lagged New York and London as a global financial hub, with the closely watched Z/Yen survey published in March ranking New York as the world's top financial centre, with London in second place.

The French presidency said this total of 15 billion euros worth of foreign investments came from 56 different business projects, with key sectors for investments including technology, artificial intelligence (AI) and finance.

Microsoft said it would invest 4 billion euros in France, while over the weekend, France said Amazon would announce a 1.2 billion euros investment at the event.

Healthcare companies Pfizer and AstraZeneca also announced investments worth a total of nearly $1 billion.

French Finance Minister Bruno Le Maire will also host meetings on Monday with the CEOs of JPMorgan, Goldman Sachs, Morgan Stanley and Bank of America, among others.

($1 = 0.9286 euros)

(Reporting by Sudip Kar-Gupta and Elizabeth Pineau; Editing by Alex Richardson and Lincoln Feast.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
36 US states file lawsuit against Google's app store in antitrust suit
36 US states file lawsuit against Google's app store in antitrust suit
Jul 8, 2021
Dozens of states are taking aim at Google in an escalating legal offensive on Big Tech, this time in a lawsuit targeting the company's Play store, where consumers download apps designed for the Android software that powers most of the world's smartphones.
Google-backed Planet Labs to go public in $2.8 billion SPAC deal
Google-backed Planet Labs to go public in $2.8 billion SPAC deal
Jul 7, 2021
Earth data and analytics company Planet Labs Inc, which is backed by Alphabet Inc's Google, will go public through a merger with a blank-check company in a deal valued at USD 2.8 billion, the company said on Wednesday.Planet Labs will merge with dMY Technology Group Inc IV and list on the New York Stock Exchange.
Ransomware breach at Florida IT firm hits 200 businesses
Ransomware breach at Florida IT firm hits 200 businesses
Jul 5, 2021
Hundreds of American businesses were hit Friday by an unusually sophisticated ransomware attack that hijacked widely used technology management software from a Miami-based supplier called Kaseya.The attackers changed a Kaseya tool called VSA, used by companies that manage technology at smaller businesses. They then encrypted the files of those providers' customers simultaneously.
Settlement agreed to release ship that blocked Suez Canal
Settlement agreed to release ship that blocked Suez Canal
Jul 5, 2021
The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.
Copyright 2023-2026 - www.financetom.com All Rights Reserved