China's Huawei to spend $2 bln in Britain

Chinese communications giant Huawei Technologies on Wednesday said it would invest $2.0 billion (1.5 billion euros) in Britain and roughly double its workforce in the country within five years.

"Huawei (has) committed to investing $1.0 billion and to spend another $1.0 billion in procurement in the UK over the next five years," the IT giant announced in a statement overnight.

"Huawei already employs over 800 people in the UK and has today committed to increasing its workforce to over 1,500 by 2017."

The Chinese firm said $1.0 billion would be spent on projects including research and development, while another $1.0 billion on buying components.

The announcement followed a meeting on Tuesday between British Prime Minister David Cameron and Huawei founder and chief executive Ren Zhengfei.

Shenzhen-based Huawei, which is the world's second-largest maker of telecommunications equipment after Sweden's Ericsson, works alongside all major telecoms operators and broadband Internet providers in Britain.

"The investment announced by Huawei... demonstrates once again that the UK is open for business," Cameron added in the statement.

"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," Cameron said.

Ren said Britain was one of the most important markets in which the group had invested.

"The UK is a centre of innovation, has a highly skilled workforce, and is respected internationally for the quality of its legal and educational systems," he said.

"It is for these reasons we have selected the UK as the location for a number of our centres of excellence. I would like to thank our UK customers and partners, as well as the British government, for their continued support."

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • N. Korea fires missiles in anger at South-US military drills
    N. Korea fires missiles in anger at South-US military drills

    North Korea fired two short-range ballistic missiles into the sea and vowed "merciless" retaliation Monday as the US and South Korea kicked off joint military drills denounced by Pyongyang as recklessly confrontational. The annual exercises always trigger a surge in military tensions and warlike rhetoric on the divided peninsula, and analysts saw the North's missile tests as a prelude to a concerted campaign of sabre-rattling. "If there is a particularly sharp escalation, we could see the …

  • Troops overrun BIFF bomb-making facility in Mamasapano
    Troops overrun BIFF bomb-making facility in Mamasapano

    Government troops captured Sunday a bomb and weapons factory of the Bangsamoro Islamic Freedom Fighters (BIFF) in Mamasapano, Maguindanao, the Armed Forces of the Philippines (AFP) announced yesterday. Col. Restituto Padilla, AFP spokesman, said the captured bomb and weapons factory is located inside an area controlled by radical Muslim cleric Ustadz Mohammad Ali Tambako at Barangay Dasikil in Mamasapano. …

  • No need for Revilla to visit son – prosecutors
    No need for Revilla to visit son – prosecutors

    Instead of filing an opposition, ombudsman prosecutors filed a manifestation yesterday expressing belief that there is no urgent need for Sen. Ramon “Bong” Revilla Jr. to visit his son at the Asian Hospital and Medical Center. “Based on the clinical abstract issued by the Asian Hospital on patient (Cavite) Vice-governor (Jolo) Revilla, which was submitted by accused Revilla in support of his Urgent Motion, Vice-governor Revilla is in stable condition and has stable vital signs, as of March 1, …

  • Couple married 67 years holds hands in final hours together
    Couple married 67 years holds hands in final hours together

    FRESNO, Calif. (AP) — After spending 67 years together as devoted husband and wife, there was no question how Floyd and Violet Hartwig would end their lives — together. …

  • How Islamic is Islamic State group? Not very, experts say
    How Islamic is Islamic State group? Not very, experts say

    CAIRO (AP) — Three British schoolgirls believed to have gone to Syria to become "jihadi" brides. Three young men charged in New York with plotting to join the Islamic State group and carry out attacks on American soil. A masked, knife-wielding militant from London who is the face of terror in videos showing Western hostages beheaded. …

  • 'Jihadi John' relatives under watch in Kuwait
    'Jihadi John' relatives under watch in Kuwait

    Kuwaiti authorities are closely monitoring several relatives of "Jihadi John" who live and work in the Gulf emirate where the Islamic State executioner was born, press reports said on Sunday. A number of relatives of Mohammed Emwazi, named as the militant who has beheaded at least five Western hostages, are working in Kuwait and like him hold British citizenship, Al-Qabas newspaper reported. "Security agencies have taken the necessary measures to monitor them round the clock," the paper said, …

  • Interview: Australia says hunt for missing MH370 jet may be called off soon
    Interview: Australia says hunt for missing MH370 jet may be called off soon

    By Matt Siegel CANBERRA (Reuters) - The search for missing Malaysia Airlines Flight MH370 cannot go on forever, Australia's deputy prime minister said, and discussions are already under way between Australia, China and Malaysia as to whether to call off the hunt within weeks. No trace has been found of the Boeing 777 aircraft, which disappeared a year ago this week carrying 239 passengers and crew, in what has become one of the greatest mysteries in aviation history. The search of a rugged …

  • Bong wants to see son in hospital
    Bong wants to see son in hospital

    Detained Sen. Ramon “Bong” Revilla Jr. will ask the Sandiganbayan to allow him to visit his son, Cavite Vice Gov. Jolo Revilla, confined at the intensive care unit of the Asian Hospital and Medical Center in Muntinlupa for a gunshot wound in the chest. Lawyer Raymond Fortun, spokesman for the Revilla family, said the senator would ask for a 24- to 48-hour furlough. Sen. Revilla’s legal counsel Ramon Esguerra said doctors removed a half liter of blood. Fortun said he was able to talk to Jolo …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options