Chinese ICT company commits to £650 million in UK investment

Huawei, a global information and communications technology (ICT) company, has committed to investing £650 million and to spend another £650 million in procurement in the UK over the next five years.

In a meeting with UK Prime Minister David Cameron and Lord Green, Minister of State for Business, Ren Zhengfei, founder and CEO of Huawei, committed the company to long-term investment in the UK.

Prime Minister David Cameron said: “The investment announced by Huawei today demonstrates once again that the UK is open for business. I welcome this and I want to see more companies invest in the UK as we work to achieve sustainable and balanced growth within our economy.

"The British Government values the important relationship with China, both countries have much to offer each other and the business environment we are creating in the UK allows us to maximise this potential.”