Chinese telecoms equipment maker1 Huawei Technologies will invest 3.1 billion U.S. dollars over the next three years in Italy, local media reported on Monday.
Addressing the press on the sidelines of an exhibition in Milan, Huawei's Italian unit chief executive Thomas Miao said the investment plan would allow 1,000 new direct jobs in the period 2019-2021, according to Ansa news agency.
More specifically, the plan would consist of some 1.2 billion U.S. dollars invested in operations and marketing2, and 1.9 billion U.S. dollars in direct supplies, while 52 million U.S. dollars would be added for research and development activities, Ansa also said.
Speaking to reporters, Miao stressed the solidity of Sino-Italian commercial ties.
"They are two well-paired countries: Italy needs China, and vice3 versa, and I am very optimistic from a business point of view," state broadcaster RAI News24 cited him as saying.
The country CEO also urged Italy to make a "transparent4, efficient, and fair" use of its golden power on the development of 5G networks.