Amazon, the American e-commerce giant, has announced plans to invest more than €1.2 billion in France, boosting both jobs and the country’s tech infrastructure. This investment will focus on the development of Amazon Web Services' (AWS) cloud infrastructure, particularly in the field of generative artificial intelligence (AI), as well as the logistics infrastructure for package distribution. The French government has confirmed that these investments will create over 3,000 new permanent jobs.
The investment by Amazon comes at an opportune time, with the Choose France summit in Versailles aimed at promoting foreign investment just around the corner. While Amazon has not responded to inquiries about the announcement, the company had previously disclosed plans to create 2,000 new positions in 2024, bringing the total number of permanent employees in France to 24,000 by the end of the year, primarily in its logistics centers.
AWS, a key subsidiary of Amazon, reported $25 billion in revenue in the first quarter of this year worldwide. It is tapping into businesses' growing demand for remote computing services and AI. In the same sector, the American multinational corporation IBM is set to announce €45 million in investments in quantum computing, as well as around 50 new hires by 2025 at its Paris-Saclay site.
In addition to Amazon’s investment, several pharmaceutical companies, including Pfizer and AstraZeneca, have also pledged to invest over €1 billion in healthcare in France. Pfizer plans to invest €500 million over the next five years to support research collaborations and clinical trials in oncology and hematology. Reda Guiha, President of Pfizer France, stated that their intention is to significantly increase the involvement of French sites in major international clinical trials in cancer research. This investment will also accelerate patient access to innovative therapies for sickle cell disease, the most common hereditary blood disease, and multiple myeloma, the most common type of plasma cell tumor.
One notable development is that France will conduct a clinical trial dedicated to combating multiple myeloma, which will be the first time that the US Food and Drug Administration allows a clinical trial to be conducted entirely overseas.
With these investments in health and technology sectors, France continues to position itself as an attractive hub for both domestic and foreign businesses. The Choose France summit serves as a platform to showcase the country’s strengths and encourage further investments.
Overall, the investments from Amazon, pharmaceutical companies, and other industries underscore the confidence in France’s economic potential and its capacity to foster innovation and job creation. The country’s commitment to research, development, and cutting-edge technologies is evident, and it will undoubtedly drive economic growth and strengthen its position as a global leader.
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