Huawei to press on with £1.3b British investment, despite Brexit
Minister confirms referendum result ‘will make no difference’ to Chinese technology giant’s five-year UK commitment
Huawei Technologies, China’s largest manufacturer of telecommunications equipment, is expected to push ahead with the rest of its five-year investment commitment in Britain, despite the uncertainties brought by the country’s vote to exit the European Union.
Sajid Javid, the UK’s Secretary of State for Business, Innovation and Skills, announced that development on Tuesday afternoon in London, as among the reassurances received by the government after the “Brexit” referendum.
“Huawei has today confirmed to government that its planned £1.3 billion (HK$13.42 billion) investment in the UK will go ahead,” Javid said in a statement.
“The referendum will make no difference to that commitment.”
The five-year investment programme by Shenzhen-based Huawei in Britain comprised £650 million in direct investment and £650 million in procurement from 2012 to 2017.
