French President Emmanuel Macron announced that this year’s “Choose France” business summit is expected to attract €20 billion euros in new investments, with projects spanning the defence, energy, and industrial sectors.
Macron’s hands-on approach in engaging international business leaders and hosting the Choose France summits at the Palace of Versailles has been credited with shifting previous investor views of France as a high-tax, inflexible economy.
In addition to the €20 billion in new investments, Macron revealed that Monday’s summit will also showcase details of around €20 billion worth of AI-focused projects promised at an AI summit earlier this year.
He underscored that his goal is to make France, and Europe as a whole, more innovative and competitive.
“We don't give up on anything!," Macron stated as he unveiled the pledges expected at the summit.
He made the remarks at the Daimler Buses facility in eastern France, where CEO Till Oberwoerder announced plans to boost both investment and employment.
Ahead of the summit, several major investment pledges were announced. US logistics giant Prologis plans to invest €6.4 billion in four data centres in the Paris region. London-based fintech Revolut intends to invest €1 billion over the next three years to expand in France and will seek a French banking licence, Reuters reports.
Additional announcements came from the UAE’s AI-focused MGX fund, with further commitments expected from companies including Amazon and Britain’s Less Common Metals Limited, active in the rare earth sector.
Portuguese firm Tekever will also invest €100 million to establish a drone assembly factory in southwestern France, according to the Elysee.
Macron’s government faces growing pressure to halt a wave of job losses in the industrial sector, as disruptions driven by US President Trump’s trade policies add strain to Europe’s struggling economy.
For the past six years, France has been Europe’s top destination for international investment, according to EY’s European Investment Monitor, a yearly survey of thousands of business leaders that Macron’s advisers cite as proof that his supply-side reforms are delivering results.
However, this year’s report reveals that the number of investment projects in Europe has fallen for the second year in a row, while the United States saw a 20% increase between 2023 and 2024.
EY attributes this growth to the attractiveness of the Inflation Reduction Act incentives and Trump’s pro-business stance.
Despite strong foreign investment inflows into France, Macron has been unable to prevent French companies from investing heavily overseas.