Huawei forecasted to generate €4.5bn for Irish economy up to 2030
Huawei expects to contribute €4.5 billion from 2024-2030, according to a new report on the company by Amárach.
The comprehensive economic assessment, Huawei Ireland: Economic and Social Impact, shows that the company employs 543 individuals and supports the employment of a further 6,100 individuals through indirect (3,170) and induced (2,949) effects from its activities which include significant research and development.
Huawei’s activities have developed from supplying mobile phones, building Ireland’s first national fixed wireless network, to being at the forefront of powering Ireland’s digital connectivity and the country’s green energy ambitions.
Speaking at an event marking the report’s launch, Huawei Ireland CEO Calvin Lan said: “From small beginnings, our products and services now serve approximately 3.5 million people and businesses across Ireland, the continued support of our customers, partners, and dedication of our staff has contributed significantly to our growth. We employ almost 550 people directly and we have four offices across the country including three R&D centres in Dublin, Cork, and Athlone. Huawei is operating in over 170 countries across the world. In Ireland, there is a lot of internal competition to attract investment and new projects, and we have managed to secure investment and projects because Ireland has a strong and growing talent-pool. Ireland has developed an innovation ecosystem which sees world leaders in technology like Huawei locate here.”
One of the panellists at the event, David Gaskin, VP of Technology, IDA said: “IDA Ireland is pleased to have partnered with Huawei since the company first established a presence here 20 years ago. In those two decades, Huawei has grown, adapted, and contributed significantly to the Irish economy and society. Foreign Direct Investment, such as this, is crucial to the continued growth and success of Ireland’s tech sector, not only through substantial capital investments but also technical expertise and innovation which further drive economic growth and technological advancement. We look forward to continuing to work with Huawei and to supporting them in their future growth and development in the decades to come.”
While launching the report, Gerard O’Neill, chairman, Amárach Research, said: “In carrying out our research for the report we found that along with the positive impact of Huawei’s R&D activities, Ireland’s economy derives significant economic benefits from the company’s operational expenditure and exchequer contributions. As well as discussing in detail the economic impact assessment, we also explore Huawei’s CSR initiatives ranging from charity support to promotion of STEM subjects in second and third level education.”
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