Huawei targets £1.2 billion investment in the UK
Huawei Technologies is reportedly set to rapidly grow its business in the UK through a £1.2 billion investment plan.
The company is said to be planning direct investments of £600 million, with a further £600 million indirectly invested in the British economy through procurement activity.
The move is expected to create at least 700 jobs over the next five years, and reportedly includes establishing a design centre in London.
In July, Huawei moved ahead of rival Ericsson to become the world’s largest supplier of telecoms equipment.
The privately-owned Chinese enterprise, however, has seen efforts to expand its presence in Australia, India and US blocked by governments, all of which have voiced security concerns due to the increasing number of cyber attacks from China as well as the company’s alleged connection with the Chinese military.
According to some sources, Huawei has appointed a board of senior British business people to ease such concerns in the UK.
The Chinese vendor already counts BT, TalkTalk and Vodafone as among its UK customers and is said to be targeting offering enterprise solutions for SMEs.