Amazon to invest 1.2 billion euros in France, according to Macron’s office

US e-commerce giant Amazon is set to make a significant investment in France, with plans to inject over 1.2 billion euros into the country’s economy. This move is expected to create more than 3,000 new jobs, according to a statement from French President Emmanuel Macron’s office.

The investment will primarily focus on developing Amazon Web Services’ cloud infrastructure, particularly in the field of artificial intelligence, as well as enhancing the logistical infrastructure of its parcel delivery service. This announcement comes just ahead of the seventh Choose France Summit, an event aimed at attracting foreign investors to the country, which will be hosted by Macron at the Chateau of Versailles.

Amazon’s expansion in France is part of its broader strategy to grow its presence in the country. The company has already committed to creating 2,000 new jobs by 2024, bringing its total workforce in France to 24,000 employees, mainly in its logistics centers.

Amazon Web Services (AWS) is a key subsidiary of the company, with a significant global revenue of $25 billion in the first quarter alone. The demand for remote computing and artificial intelligence services has been on the rise, making AWS a crucial player in the tech industry.

In addition to Amazon’s investment, several pharmaceutical companies, including Pfizer and AstraZeneca, have also pledged to invest over a billion euros in France’s health sector. The country is also set to potentially host a major industrial project, with a European consortium considering a 1.3 billion euro investment in a fertiliser factory in northern France.

Overall, these investments signal a positive outlook for France’s economy and job market, as the country continues to attract foreign capital and foster innovation in key industries.