Chinese vendor Huawei has confirmed that it has committed to investing GBP650 million (USD1 billion) in the UK, while also outlining plans to spend a further GBP650 million in procurement in the country over the next five years. The announcement comes in the wake of a meeting between UK Prime Minister David Cameron, Minister of State for Business Lord Green, and Ren Zhengfei, founder and CEO of Huawei.
With the vendor noting that it currently employs more than 800 people in the UK, it has reportedly committed to increasing this number to over 1,500 by 2017, and Huawei has said that as part of its commitment it will ‘invest in a number of global centres of technical and financial excellence in the UK’.
Mr Ren said of his company’s plans: ‘The UK is one of the most important European markets in which Huawei has invested. Over the past eleven years we have found its government to be transparent, efficient and practical. The UK is an open market, which welcomes overseas investment. I am therefore very pleased today, to be announcing the USD2 billion investment and procurement plan, promoting the development of openness and free trade.’