Huawei Australia Chairman, John Lord, has called for the cultivation of a “local ecosystem of investment’ to further boost Australia-China ties.
Huawei hopes to expand its investments beyond the telecoms sector in other sectors such as finance, education, and small to medium enterprises.
Lord was speaking at the ADC Future Summit in Melbourne, where he noted that Huawei’s global treasury department had held meetings with Australian banks covering topics including foreign exchange, corporate bonds, and everyday banking requirements, as part of its “localisation drive.”
According to Lord, this ‘ecosystem of investment’ means Huawei’s global operation would have greater access to local finance, local technology, and local skills, in turn, giving local businesses and students greater access to Huawei’s global supply chain and training programs.
He noted a similar program that Huawei has underway in the UK, where it has committed to investing $US1 billion, and an additional $US1 billion on local procurement over the next five years.
Huawei works with 8 global banks including Deutsche Bank, Citibank, ICBC, HSBC, and Standard Chartered Bank, he noted.
Huawei’s products and solutions have been deployed in over 140 countries and support the communications needs of one third of the world’s population.