Cooperation agreement signed for Huawei’s €4.5 million investment in Malta

A second memorandum of understanding was signed between the Maltese government and Chinese electronics giant Huawei which will result in a combined investment of at least €4.5 million.

Huawei, which competes with Sweden's Ericsson for the top spot in the global market for communications infrastructure, will also be sponsoring five students from the ICT Faculty every year. The students will be given the opportunity to travel to China for training with Huawei, exposing them to the latest technologies, research and development.

In the presence of Prime Minister Joseph Muscat, the MoU was signed between parliamentary secretary for competitiveness José Herrera and Huawei Italy CEO Edward Chan.

The ‘strategic projects cooperation’ agreement paves the way for a €3 million investment in the 4.5G mobile coverage prior to the introduction of 5G. The agreement also covers the €1.5 million research and development under the Safe Malta cap. Huawei will be testing its Safe City technology providing a new platform in fighting criminality, preventing crime and controlling traffic, amongst other.

“Safe Cities will revolutionize the way we make our neighbourhoods and streets safer whilst respecting privacy and data protection,” Muscat said, hailing the strategic partnership between the two side.

The Prime Minister spoke of Malta’s ability in providing companies with the right environment to test their technologies and help turn ideas into big investments.

“Our stable democracy, a safe jurisdiction, our energy and our flexibility in adapting fast to challenges make us the ideal destination.”

Huawei employs over 170,000 employees worldwide in 175 offices. Its revenues for 2015 were estimated at $60 billion, of which 60% is generated from outside China.

Top officials from Huawei’s western European region are meeting in Malta over the weekend.