U.S. software company Salesforce will invest more than $2.2 billion in its French
business over the next five years, it said on Tuesday, in another sign of
America Inc’s new love affair with France since President Emmanuel Macron’s
election.
The investment comes as Macron began a state visit to Washington,
becoming the first foreign leader to be given the honor by U.S. President
Donald Trump.
“In the context of his state visit to the United States, Salesforce
announced to President Macron an investment of more than $2.2 billion in the
company’s French business over the next five years,” Salesforce said in a
statement.
A survey by the American Chamber of Commerce last November showed that
the election of Macron, who has pledged reforms to boost the French economy and
help businesses, had caused American investors to take a more positive view on
France, with many planning to expand.
Salesforce said it was experiencing rapid growth in France and planned
to significantly increase its headcount, real estate footprint and data center
capacity.
The announcement follows similar decisions to invest in France by U.S.
multinationals such as Google (GOOGL.O), Facebook (FB.O) and General Mills (GIS.N).
Macron, a former investment banker, and his government are pushing through
social and economic reforms to re-shape the French economy and restore France’s
image among investors.
He has already made hiring and firing easier by easing labor
regulations, slashed a wealth tax, introduced a flat 30 percent tax rate on
capital income and scrapped the highest bracket of payroll tax for banks.
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