Venezuelan President Nicolas Maduro announced an investment in telecommunications in association with Huawei, ZTE and other Chinese and Russian companies, Thursday, and also stated that he considered the U.S. veto against Huawei to be a "tremendous aggression" against the multinational.
Venezuelan president announced that he aspires to "raise the reach and strength" of Internet and cell phone coverage in Venezuela.
"Huawei will continue in Venezuela," President Maduro said, promising there will be new, immediate, investments along with the creation of a new "National Telecommunications Corporation", that will merge all the state companies in the sector.
Maduro said that the U.S. has attacked Huawei, "only because the company has taken giant steps and has become the world leader in the telecommunications sector by developing the system towards the installation of the 5G technology".
President Maduro praised the innovation of the 5G service and assured that a new world will be born with it.
This comes after the Trump administration intensified its trade war on China, for alleged national security reasons, putting Huawei on a blacklist of foreign technology companies, which means that it will be denied access to U.S. technologies and markets. This decision may be the first instance in a long-lasting "tech cold war".