The investment arm of Emirates Telecommunications Corporation (Etisalat) - Etisalat International - has signed a Memorandum of Understanding (MoU) with Hong Kong-based Huawei Tech. Investment Co. Limited. The MoU forges a mutually beneficial relation between the two corporations, effectively creating a giant international group with proven expertise in physical telecom infrastructure, management, and international negotiations. Huawei will assist Etisalat International in identifying, evaluating and funding its entries into new markets.
Obaid Bin Mes’har, CEO, Etisalat International, said: “I am happy to announce this partnership with the global brand Huawei. The scope of this understanding is to set up an effective working relationship between the Corporations, and to jointly explore investment and business opportunities in the region and beyond. We eagerly look forward to the many opportunities that will be opened to both the corporations.”
Signing on behalf of Huawei, Wang Jiading, Vice President of MENA Region, said: “It is a great opportunity for us to be associated with a corporation like Etisalat. We have seen Etisalat International’s track record, and I am confident that the relationship we share will be mutually beneficial. We at Huawei are confident that our tying up with this regional giant will help us gain inroads into the region.”
The MoU stipulates that Huawei will alert Etisalat International to any opportunity that presents itself in the region, in terms of new licences, partnerships or other opportunities. Etisalat International and Huawei would then be able to combine to exploit any new business opportunities to the full.
The MoU was signed on June 1st 2005 by Obaid Bin Mes’har, CEO, Etisalat International, and Wang Jiading, Vice President of MENA Region, Huawei Technologies.
