Huawei plans to invest $3.1 billion in Italy depending on 5G policy

Huawei said it’s planning to invest $3.1 billion in Italy over the next three years while ensuring for transparent, efficient and fair use of its golden power on 5G network.

UK says there’ no technological reason to exclude Huawei in 5G

Speaking at an event in Milan on Monday, Huawei Italy chief executive, Thomas Miao, said the country’s golden power which allows the state to intervene in the private sector in the defense of nations security should be extended to all vendors in the European Union, reported Reuters.

He said Huawei would add 1,000 jobs in the country over the next three years.

Miao confirmed the recent report of cutting 1,000 jobs in its US subsidiary. He said if the company is still kept on the US blacklist in August, it has “a plan B” for a guarantee supplies of components.

The US is building pressure on Italy and other European countries to bar Huawei from building their 5G networks citing national security concerns, which the company has repeatedly denied.