Huawei will invest $3.1 billion in Italy until 2021


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While the relationship with Huawei and the United States came to the worst in the past months, the Chinese company wants to establish its presence in Europe. The company’s Italian chief, Thomas Miao, revealed that a big investment of $3.1 billion is coming for Italy. This particular deal will create 1,000 direct jobs in the market by 2021.

Huawei should invest approximately $1.2 billion in operations and marketing. The company will also spend $1.9 billion in direct supplies for the Italian market. When it comes to R&D activities, the Chinese Behemoth will be investing around $52 million. This investment follows a new decree passed by the Italian government. The new decree will increase the power of the state to intervene in the matters of the private ICT (information and communications technology) sector which controls 5G.

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Italian will need to inform the government of any purchases in the ICT sector from non-European suppliers. If it successfully passes through the parliament, then the rollout of essential ICT infrastructure networks like 5G will be monitored. Huawei’s massive investment is a way to urge Italy to make the rules fair for all suppliers. After all, this new law could benefit European-based 5G suppliers like Nokia and Ericson.

Huawei is the world’s leading company in 5G equipment, any country wishing a smooth upgrade to the new network can’t simply ignore the Chinese giant.

Source :

Reuters

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