Huawei announce investment of $3.1 billion in Italy

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Huawei Technologies announced it would invest $3.1 billion in Italy over the next three years, as the Chinese telecoms giant called on Rome to ensure the “transparent, efficient and fair” use of its ‘golden power’ on 5G network development.

Speaking at an event in Milan, the chief executive of the telecoms giant’s Italian unit, Thomas Miao said Huawei would add 1,000 jobs in the country over the next 3 years.

Italy recently beefed up its “golden power” over the private sector partly due to concerns over the potential involvement of Huawei and fellow Chinese company ZTECorp in the development of 5G networks, a government source said on Friday.

Speaking about the 5 G issue, Miao said that at the moment it only applies to non-European suppliers, but it should be aimed at everyone, because the technology is neutral and is not linked to geopolitical questions.”

Via Reuters / Channel News Asia /ANSA

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