Huawei will invest 150 million euros (148 million U.S. dollars) in building a cloud services hub in Dublin of Ireland, the first of its kind to be set up by the Chinese telecom giant in Europe, it said on Tuesday.

The cloud hub will create 200 new jobs for the local labor market in the next five years, said the company in a statement, noting the hub will serve customers across Europe and help Irish enterprises expand into new global markets.

"We see Ireland as a strategically important location for the global deployment of Huawei Cloud," said Tony Yangxu, CEO of Huawei Ireland.

"The new offering will be based on ... cloud services customized to meet the needs of various Irish and European customers, but particularly small- and medium-sized enterprises," he said.

The statement from Huawei Ireland quoted Irish Deputy Prime Minister and Minister for Enterprise, Trade and Employment Leo Varadkar as saying that the investment demonstrates Huawei's ongoing commitment to Ireland.

"Huawei is expanding its portfolio of services in Ireland with this investment, which will substantially enhance our thriving technology ecosystem," he said.

Huawei has established its presence in Ireland since 2004, with its business now serving more than 3 million people and supporting over 900 direct and indirect jobs in the country, according to Huawei Ireland.

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