Tuesday, September 11, 2012

Huawei Bets Big in the UK

In a meeting with UK Prime Minister David Cameron and Lord Green, Minister of State for Business, Ren Zhengfei, founder and CEO of Huawei, committed to investing US$1 billion (GBP650 million) and to spend another US$1 billion (GBP650 million) in procurement in the UK over the next five years.

Huawei currently employs over 800 people in the UK and has today committed to increasing its workforce to over 1,500 by 2017. As part of this commitment, Huawei will invest in a number of global centres of technical and financial excellence in the UK. The company is already working wtih all the major telecommunication operators and broadband service providers in the UK.

Prime Minister David Cameron said: "The investment announced by Huawei today demonstrates once again that the UK is open for business. I welcome this and I want to see more companies invest in the UK as we work to achieve sustainable and balanced growth within our economy. 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."

Ren Zhengfei, Huawei Founder and Chief Executive Officer, said: "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 US$2 billion investment and procurement plan, promoting the development of openness and free trade."