Manufacturer set to announce large scale investment in a bid to accelerate the growth of its UK operations
Huawei is today expected to unveil a £1.2 billion investment plan to accelerate the growth of its business in the UK.
According to a report on Sky News, Huawei will create 700 jobs in the UK over the next five years and will directly invest £600 million into growing its British business.
The manufacturer is expected to announce a further £600 million benefit to the economy that will be generated from procurement activity related to the direct investment.
Huawei’s design centre in London, which is due to open in the coming weeks, is also understood to be part of the company’s future investment plans in the UK.
The report adds that Prime Minister David Cameron is expected to endorse the news, hailing it as evidence that Britain’s attractiveness as a destination for investment is rising in the wake of a successful period hosting the Olympic and Paralympic Games.
Huawei is also expected to announce further details on how it will strengthen ties with British universities through an internships programme, as well as how it can offer companies access to the Chinese market.