Huawei Invests £1.3 Billion Despite Brexit


Chinese tech giant, Huawei plans to invest in the UK despite the reason decision to leave the European Union. 

The UEFA Euro sponsor is pledging a £1.3 billion investment, which hopes to create 500 jobs in the country, business minister Sajid Javid said. 

"Investors have reaffirmed their commitment to the UK. For example just today Huawei confirmed to the government that its planned 1.3 billion pound ($1.73 billion) investment in theUK will go ahead as planned," he told a news conference.

The confirmation comes as many investments in the country have fallen through, including a third runway at Heathrow airport and the Hinkley Point nuclear power station project according to the Financial Times. 

There is hope though that Huawei's reaffirmation may spark a wave of certitude and belief from foreign investors that the British economy will bounce back. And with the FTSE up by 2 percent today, it seems stability in the market is certainly not out of reach. 




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