Huawei announces €2bn investment in UK
The Chinese ICT solutions provider revealed today, in a meeting with Prime Minister David Cameron and Lord Green, Minister of State for Business, that it will invest $1bn in UK and another $1bn in procurement and initiatives over the next five years.
Today, Huawei employs over 800 people in the UK and expects to increase this figure to over 1,500 by 2017, by investing in British global centres of technical and financial excellence. Besides, the tech company works with all the major telecommunication operators and broadband service providers in the UK, which signifies a big contribution to the national broadband strategy.
David Cameron said that the country is open for business and welcomed the new plan. “The British Government values the important relationship with China, both countries have much to offer each other and the business environment we are creating in the UK allows us to maximise this potential”, he added.
Likewise, Ren Zhengfei, Huawei Founder and Chief Executive Officer, explained that the company chose the UK because “is an open market, which welcomes overseas investment.” Besides, ‘‘is a centre of innovation, has a highly skilled workforce, and is respected internationally for the quality of its legal and educational systems.”