PARIS (dpa-AFX) ? US tech company Microsoft is to invest ?4 billion ($4.3
billion) in cloud technology and artificial intelligence (AI) at
locations in Paris and Marseille, French President Emmanuel Macron's
office announced on Monday.

A new Microsoft branch is to be established at Mulhouse near the
German border.

Other companies also announced major investments at the Choose France
investor conference being held in Versailles near Paris.

Online trader Amazon plans to invest ?1.2 billion, generating several
thousand new jobs in France. Pharmaceutical companies AstraZeneca and
Pfizer are also planning investments totalling hundreds of euros.

Total pledges of ?15 billion covering 56 projects and creating 10,000
jobs had been made at the conference, Macron wrote on X. 'We are
going to break a new record today,' he said.

The French president attributed the new investments to reforms
carried out by his governments since 2017 and said they were the
result of lower taxes and tax credits for research in key sectors,
such as artificial intelligence, hydrogen and semiconductors.

The conferences have been held since 2018. Last year, around ?13
billion was raised.

The EY business consultancy currently rates France the most
attractive European country for foreign investment.

Rising national debt has however led Finance Minister Bruno Le Maire
to announce cuts to the budget after the 2023 deficit came in at 5,5%
of gross domestic product, considerably higher than the forecast
4.9%.


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