Economic impact study from Chinese firm found it supports 7,400 UK jobs through supply chain
Huawei has contributed £956 million to gross domestic product in the UK over the last three years, according to an economic impact study.
The study, conducted by Oxford Economics, found that the Chinese manufacturer currently supports 7,400 jobs in the UK directly and through its supply chain.
It is the first time Huawei has had its economic impact audited in any country, and Oxford Economics found it was “on track” to meet its target of spending £1.3 billion in the UK from 2013-17.
The five year spending commitment was agreed by Huawei CEO Ren Zhengfei in a meeting with David Cameron in September 2012.
Huawei Group rotating CEO Ken Hu (pictured) said: “The UK is rightly known as a country which has an outstanding record in fostering business growth and pioneering technological innovations. These attributes make it one of our most important markets internationally.
“We are proud to make a contribution to the UK economy through our products and services and the ground-breaking innovation and R&D that we carry out in Britain. The impact report confirms the benefits we bring, but also indicates areas where can improve.”
Last year, the Chinese manufacturer and infrastructure provider bought Cambridge-based Internet of Things company Neul for £16 million.
It has also opened a new research and development centre in Bristol, taking its staff numbers up from 781 to 1,030 people. It is now present in 15 locations across the country.
Secretary of State for Culture, Media and Sport John Whittingdale said: “In 2012 the UK government welcomed Huawei’s five-year spending commitment as a sign that Britain was open for business and was attracting some of the world’s biggest businesses to invest here.
“I’m pleased to see the progress Huawei has made since then. It is a clear vote of confidence in Britain’s highly-skilled workforce and a recognition of the success we’ve had in creating the right environment for businesses to grow and flourish.”