On Monday January 22nd, the President of France Emmanuel Macron gathered 140 business leaders for the Choose France Summit.
The “Choose France!” summit is another key stage in the promotion of France’s attractiveness as a business location after several months of far-reaching economic reforms by the French government. The aim of the event is to highlight how France stands up as an attractive business destination, underpinned by the announcement of various investment projects in France.
Five major investment projects were announced:
Toyota will invest €300 million at its French site in Valenciennes (Onnaing, Hauts de France region, north-eastern France) creating 700 new permanent jobs and 100 temporary positions by 2020
SAP confirmed its commitment to innovation in France by
- investing an estimated €2 billion or more over the next five years.
- Opening a 2nd incubator to support the growth of more than 50 startups through access to SAP’s technology ecosystem. SAP will also invest in French startup seed capital focused on climate change and sustainable development
- Spending €150 million a year on R&D over the next five years
- a €10 million investment and a doubling in size of its Facebook AI Research(FAIR) teams to fast-track artificial intelligence in France by 2022.
- Plans to hire 60 additional researchers and engineers along with 40 PhD students by 2022
- A digital skills training initiative for 65,000 people in France by the end of 2019
Google announced major investment with 3 components:
- Four new Google Hubs, each in a different region of France, focusing on free training in online skills and digital literacy, in partnership with local specialists on the ground.
- A new AI basic research hub in France, with a team of researchers, in partnership with the French academic community
- A 50% increase in personnel at Google’s Paris headquarters
Novartis comfirmed its French ambitions with
- The acquisition of Advanced Accelerator Applications, a French biotech firm specializing in molecular nuclear medicine.
- The confirmation of funding for investments of €900 million over three years in France in clinical research and trials
- Novartis’ new headquarters in the Paris suburb of Rueil Malmaison
Other investments have been secured, in particular by Manpower and General Mills, and John Chambers (former Cisco CEO) has been appointed as French Tech’s ambassador, on a voluntary basis.
Information collected from and originally published by Business France. More details here.