Choose France Summit Attracts Investments Worth $46.3 Billion
- Business Companies Investments World
Global Business Magazine- 5 minutes read
Living up to its reputation as Europe’s most attractive country for international investors for the sixth consecutive year, France has witnessed 53 investments amounting to $46.3 billion were made, which enabled the creation of nearly 13,000 direct and indirect jobs, at the eighth edition of “Choose France Summit” held recently.
The agreements include Artificial Intelligence (AI) with the UAE’s MGX, the mobility of tomorrow with Italian firms POMA, Iveco Group and the Japanese group Nidec Motor Corporation, renewable energies with the German EnBW mobility+ AG & Co. KG, creative and cultural industries with American firm Netflix, connected healthcare with British business GSK, cosmetics with the American leader The Estée Lauder Companies Inc., logistics or the circular economy with Belgian firm FUTERRO, all business sectors were included, thereby re-affirming the strength of French innovation, the excellence of its expertise and its infrastructures, without forgetting the quality of its decarbonised electricity model.
Brookfield (Canada), the investment firm, is accelerating its commitment to AI infrastructure in France with the confirmation of the first hubs under its $22.69 billion strategic partnership with the French Government.
The anchor site, E-Valley in Cambrai, will be the first to launch with construction starting in 2026. It will host at least 300 MW of electrical capacity in the short term, with the company aiming to go up to 1 GW, representing an investment of over $11.35 billion and the creation of almost 4,000 direct and indirect jobs on this site alone.
Along with two other sites identified in northern France, it will form Europe’s largest AI infrastructure cluster with a 2 GW target. Developed by Data4, Brookfield’s data center platform, the initiative will raise Brookfield’s assets in France to over €50 billion by 2030.
Prologis (US), the investment trust, which specialises in logistics real estate, has announced that it will invest $7.26 billion to strengthen its presence in France with the development of 750,000 sq. m. of additional logistics space over the next three years in several French regions. It will also develop four major data center projects in Ile de France (Paris region).
Other Announcements
The UAE’s global logistics firm DP WORLD is investing around $295 million in France over the next five years. Of this, $136.16 million will be invested in decarbonisation and energy transition initiatives at the firm’s seaport in Marseille, ‘EUROFOS’.
A further $158.86 million will be spent on a large warehouse at the inland terminal of Ottmarsheim in Alsace, which is located on the Rhine and borders Germany and Switzerland, with a potential direct job creation estimated at around 150 full time employments once the project is fully operational.
The new 90,000 sq. m. logistic park will provide 3PL logistic services for external parties. The facility will serve barges arriving at and departing from the port, and link to the rail freight network, enhancing the port’s ‘intermodal’ transport capabilities and further reducing the environmental impact of DP World’s logistics operations.
The UK’s fintech giant Revolut said that announced the opening of its new Western European headquarters in Paris (Ile de France region), with an application for approval as a credit institution and the creation of 200 jobs.
Switzerland’s MSC Cruises has placed order for two new ships, which will be built by Chantiers de l’Atlantique in Saint-Nazaire (Pays de la Loire region). Like Coleo (Spain), the leading textile recycling firm, said that it will establish a new textile recycling site in the Grand Est region.
Ever since it was launched by French President Emmanuel Macron in January 2018, Choose France has met with growing success from year to year, and secured over $99.63 billion in investments and supported the creation of over 163,000 jobs.
