Home > Overseas Investment News > Chinese telco giant to invest $400m in NZ
Chinese telco giant to invest $400m in NZ
2017-03-21
Brief:Chinese telecommunications group Huawei Technologies will spend $400 million over the next five years to help drive local research and development and support the construction of a cloud data centre.
 
 
Chinese telecommunications group Huawei Technologies will spend $400 million over the next five years to help drive local research and development and support the construction of a cloud data centre.
 
Economic Development Minister Simon Bridges and Tertiary Education, Skills and Employment Minister Paul Goldsmith today announced the investments as the Chinese firm becomes firmly entrenched as a major telecommunications equipment vendor in New Zealand.
 
Some $250 million of the funds is being earmarked for procurement in local companies, with the rest going into a cloud data centre to be built with New Zealand firms, the opening of an Innovation Lab at Victoria University in Wellington, building an Innovation Lab in Christchurch and expanding the Seeds for the Future University Student Programme to a further 100 ICT students.
 
"The depth of the investment will touch many areas of the economy and open up global opportunities for New Zealand," Bridges said in a statement.
 
"The initiatives that Huawei is committing to will also help strengthen our research and development activity and capability building in the digital and technological world."
 
Huawei founder Ren Zhengfai met Prime Minister Bill English to discuss the investments ahead of a major Chinese delegation led by Premier Li Keqiang including senior ministers, government officials and business people.
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