Venezuela wants to invest in Huawei

After the United States banned Huawei, the president of Venezuela has decided to make investments with the company.

Nicolás Maduro announced that Venezuela would invest in telecom with Huawei, as well as other Chinese and Russian companies to improve the telecommunications system of the South American country.

Maduro’s announcement comes a short time after the United States banned Huawei, considering this technology company could be a security risk for the United States.

Huawei is the company with the most advanced development of 5G technology, which will represent a breakthrough in the telecommunications network by providing a higher connection speed and offering a better infrastructure for the Internet of Things.

Venezuela, a country with telecom problems

Maduro did not offer too many details about his decision; he only said that he ordered an “immediate investment” with Huawei and other companies to resolve Venezuela’s telecommunications delay.

“I have ordered an immediate investment with our Chinese brothers and technology from China, Huawei technology, ZTE, and all Chinese companies and all Russian companies for us to increase telecommunications capabilities and make Venezuela valid in the 4G system at the national level, “Maduro said at the FANB Innovation, Science and Technology Fair.

In Venezuela, Internet and telephone connections are continually undergoing blockades, and mobile connectivity has been quite limited in the first months of this year, with interruptions affecting services such as YouTube, Google Search, Facebook, and Instagram. Connectivity fell by 10% during the moments of the most significant protests.

Maduro still has the support of China, who has lent him more than 50 billion dollars with agreements that include oil by a loan. However, in recent years, China has decreased its investment with Venezuela and has preferred to bet on more stable Latin American markets.