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.

 

中国电讯设备生产商华为技术公司未来三年将在意大利投资31亿美元。

 

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.

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