BEIJING – Telecom giant Huawei is set to invest $2 billion in cybersecurity over the next five years as part of its efforts to ease security concerns, the state-owned China Daily said on Wednesday.
Through the investment, the company will hire more people and upgrade its laboratories, after several governments expressed doubt over the safety of its products.
“We will open a security transparency center in Brussels in the first quarter of 2019 to ensure clients that our products are reliable,” said Hu Houkun, Huawei’s rotating chairman.
The announcement came weeks after the detention of Huawei’s chief financial officer Meng Wanzhou, who was arrested in Canada for the alleged violation of economic sanctions imposed by the United States against Iran.
Hu said the firm is waiting for a “just conclusion of Meng’s case,” according to the Daily.