Emmanuel Macron has announced a boost of 20 billion euros in new foreign investments, as a result of the "Choose France" conference held at the Palace of Versailles (in addition to another 20 billion in artificial intelligence projects anticipated during the AI summit earlier this year).
"We are not going to give up on anything!", declared the French president during the annual conferences organized since 2017 to attract foreign investors and support innovation and competitiveness of French companies. "Some of the decisions we make may not be popular, but they are consistent and are intended to make France more attractive to investors," Macron stated at an event at a Daimler bus factory before heading to Versailles.
The annual "Choose France" summits have been one of the personal endeavors of the president and former banker since his arrival at the Élysée Palace. In the final stretch of his second term, Macron is currently facing one of the lowest points in popularity, amidst a climate of political instability and economic uncertainty.
This year's summit has taken place under the clouds of the trade war declared by Donald Trump, the decline in American investments in Europe, and forecasts of an economic growth slowdown in France (with a GDP increase of 0.6%), driven by, among other factors, the urgent need for fiscal adjustment in public finances.
Despite transatlantic tensions, several American companies are expected to announce major projects in France, such as the Prologis group (with 6.4 billion investments in data centers and logistics facilities) and Amazon (planning to expand its presence in the country with a 300 million euro investment).
The Spanish telecommunications infrastructure company Cellnex could invest 2.5 billion as part of its projected portfolio across Europe. The British digital bank Revolut, on the other hand, plans to invest one billion for further expansion in France.
Less Common Metals Limited, a leading British company in the rare earths sector; the Portuguese aerospace company Tekever, specialized in drone manufacturing; and the multinational MGX, based in the United Arab Emirates and focused on artificial intelligence, are among the companies committed to making new investments in France.
Despite the political and economic turbulence, France has been the top European country in receiving international investments for six consecutive years, according to reports from the European Investment Monitor by the consulting firm EY.