Choose France summit draws businesses, investment announcements [fr]
Major investment projects in France across a variety of regions and sectors have been announced during a summit of 140 global business leaders with President Emmanuel Macron at Versailles.
The Choose France summit on January 22 brought together sectors ranging from digital, to pharmaceuticals and automobiles.
Major projects totalling €3.5 billion were announced by Toyota, Facebook, Google, software firm SAP, and healthcare company Novartis.
1. Toyota announced it would invest €300 million in its factory at Onnaing (Valenciennes), creating 800 jobs by 2020 in the process
2. Software firm SAP announced it would invest €2 billion over five years to support start-ups and research and development projects involved in artificial intelligence (AI) the fight against climate change.
3. Facebook is to invest €10 million to double the size of its French AI laboratory, making it the largest in the world outside New York. The company will also train 65,000 people with digital skills: 50,000 jobseekers and 15,000 women as part of the SheMeansBusiness programme.
4. Google also announced it would invest in AI research, opening a basic research centre, and in digital competency training, with the opening of four regional "digital workshops".
5. Novartis acquired a French biotech start-up for €3.5 billion and will invest €900 million in France over three years.
Thank you @sherylsandberg. Facebook’s continued investment in our research and AI ecosystem shows the strength of our academics and of our school system. "The talent is here." #ChooseFrance pic.twitter.com/iTEysDGyeI
— Emmanuel Macron (@EmmanuelMacron) January 22, 2018
Three measures to grow France’s economic appeal were also announced during the summit:
The facilitation of commercial legal proceedings relating to contracts under English law
Increasing international secondary education opportunities in France
Temporary dispensation from retirement provision obligations for expatriates in France to reduce labour costs and attract a qualified workforce.
In 8 months, this government has worked very hard to make it easier to invest in, move to, work and live in France. To the world’s business leaders, we say: France is back, #ChooseFrance