Huawei has joined the likes of Apple and Google in committing long-term to the UK despite the uncertainty brought about by Brexit.
Last week Theresa May met with Madam Sun Yafang, Chairwoman of Huawei in Beijing, to discuss the new commitment. The pair agreed on a new five-year partnership, which will see a £3bn investment into helping UK companies increase exports to China. This builds on a previous promise from Huawei in 2012 to invest £1.3bn in the UK over four years.
The aim of the new commitment is to help UK customers increase exports to China over the next five years, as well as continue with current investments.
Prime Minister, Theresa May, said: “Thanks to the drive and innovation of UK business, backed by this Government, trade between the UK and China is already at record levels. This visit is an opportunity to further showcase the best of British and boost jobs and prosperity throughout the UK.”
Huawei is already a key technology partner for the UK, partnering with industry and government on 5G and digital skills. Past deals include a partnership with the University of Edinburgh, which aimed to boost teaching and learning across the science and technology sector, and a tie-up with BT, which looked to increase the development and deployment of 5G across the UK.
As Brexit looms it is important to ensure that the UK keeps such relationships with international suppliers to boost the economy, as well as ensuring the UK can continue to develop its plans to invest in digital technologies around the world.
International Trade Secretary, Dr Liam Fox, said: “Huawei’s £3 billion announcement is yet another significant vote of confidence in our world-leading tech industry and I’m delighted to welcome their increased commitment to the UK. With 90% of global growth forecast to come from outside the EU, my international economic department is working to ensure Britain continues to benefit from the vast opportunities available as we leave the EU.”
“We have now been working with our major customers in the UK for more than twelve years, helping to build a better connected UK. Over the coming years, we look forward to continuing to collaborate with our customers and partners to help keep the UK at the very forefront of the digital age.”
This article is from the CBROnline archive: some formatting and images may not be present.
Join Our Newsletter
Want more on technology leadership?
Sign up for Tech Monitor's weekly newsletter, Changelog, for the latest insight and analysis delivered straight to your inbox.