Amazon.com and Microsoft have committed to making significant investments in their French operations, joining other global companies in announcing a total of €15 billion in investments at the Choose France summit in Versailles.
Amazon plans to invest €1.2 billion ($1.3 billion) to expand its cloud computing capacity in the Paris area. This move is in response to the increasing demand from the artificial intelligence sector. Additionally, Amazon aims to create 3,000 permanent jobs by expanding its logistics infrastructure.
Several major multinational companies, such as Microsoft, AstraZeneca, GSK, and Accenture, are anticipated to make investment announcements at the upcoming seventh annual Choose France summit. This prestigious event will gather 180 global business leaders at the iconic Palace of Versailles.
The summit, initiated by President Emmanuel Macron in 2018 to attract foreign investment into France, is expected to witness a total investment of €15 billion in 56 projects. This represents a noteworthy increase compared to the €13 billion pledged for only 28 projects last year.
Amazon has stated that its investments align with its plans to invest €6 billion in expanding cloud infrastructure in France over a 15-year period from 2017 to 2031.
The Seattle tech company currently has a workforce of 22,000 permanent employees in France, spread across Amazon Web Services’ offices and its 35 logistics sites. Last month, Amazon made an announcement about their plans to create an additional 2,000 logistics jobs, on top of the 3,000 that were announced earlier this week.
Microsoft is poised to make a substantial investment of €4 billion in advancing France’s AI sector. This investment will involve the development of new infrastructure, the training of French AI specialists, and the bolstering of the country’s startup ecosystem. Vice Chairman Brad Smith shared this exciting news with French newspaper Le Figaro.
According to the report, Microsoft has big plans ahead. It will be establishing a brand new data centre in the city of Mulhouse in France. Additionally, the company aims to provide training to a whopping one million individuals and offer support to 2,500 startups within the country.
Wall Street powerhouse Morgan Stanley is poised to expand its Paris campus, fueling growth that will result in the creation of 100 new jobs in the French capital. This move will bring the company’s headcount up to 500, a significant increase from its previous count of just 150 three years ago. Finance minister Bruno Le Maire made this announcement, highlighting the positive impact on the local economy.
