Investment summit 'Choose France' draws record commitments

Macron calls it 'by far the largest and most historic' edition

71 projects expected to create more than 15,000 jobs

SoftBank plans to expand total investment to up to 75 billion euros ($87.4 billion)

French President Emmanuel Macron (right) applauds SoftBank Group Chairman and CEO Masayoshi Son during a joint press conference at the Elysee Palace in Paris on Sunday. [Reuters/Yonhap]
French President Emmanuel Macron (right) applauds SoftBank Group Chairman and CEO Masayoshi Son during a joint press conference at the Elysee Palace in Paris on Sunday. [Reuters/Yonhap]

French President Emmanuel Macron announced Sunday that France had secured 93 billion euros (about $102 billion) in foreign investment at the annual Choose France summit — a record that surpasses in a single year the 87 billion euros he attracted over the eight years since taking office.

Speaking at a joint press conference at the Elysee Palace following a meeting with SoftBank Group Chairman and CEO Masayoshi Son, Macron said the summit alone had generated confirmed investments of 93 billion euros and would create more than 15,000 jobs. "This is by far the largest and most historic edition," he said. The funds are to be channeled into 71 projects, with a focus on data centers and AI.

Nearly half of the total comes from SoftBank. The Japanese technology conglomerate plans to invest 45 billion euros (about $49.5 billion) by 2031 to build a 3.1-gigawatt AI data center complex in the northern French region of Hauts-de-France, with plans to expand its cumulative investment to as much as 75 billion euros ($87.4 billion). Major international media reported it marks the first time SoftBank has committed AI infrastructure investment of this scale in a single European country.

The deal resulted from Macron personally visiting Japan earlier this year to persuade Son, Bloomberg and other outlets reported. Son said the urgency of AI investment was clear. "The United States is moving fast, and China is moving fast," he said. "Europe, Japan and Asia must also move fast if they do not want to fall behind."

Macron said the summit also included strategic projects aimed at supply chain independence in semiconductors, critical minerals, steel and healthcare. "These 93 billion euros in foreign investment are concrete proof of France's attractiveness as the No. 1 destination for foreign investment in Europe for seven consecutive years," he said. According to accounting firm EY, France attracted 852 foreign investment projects last year, ahead of the United Kingdom with 730 and Germany with 548.

Choose France is a signature economic diplomacy event Macron has hosted annually since 2018, bringing together chief executives from major global companies to pitch investment in the country.


psj@heraldcorp.com