Huawei to put $3.1b into Italy

The chief executive of Huawei’s Italian unit, Thomas Miao, said at an event in Milan on Monday that Huawei would invest US$3.1 billion and add 1,000 jobs in Italy over the next three years, reports Reuters. 

Miao also confirmed that the Chinese company would cut 1,000 jobs in the US. He said if the company is kept on a blacklist in August by Washington, it has “a plan B” to guarantee supplies of components. 

The Chinese telecoms giant also called on Rome to ensure the “transparent, efficient and fair” use of its “golden power” on 5G network development. Miao said Italy’s golden power – which allows the state to intervene in the private sector in the defense of national security – should be extended to all vendors in the European Union. 

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