European countries are all set to come up with the US and China to launch advanced fifth-generation telecoms networks. The objective is to introduce the technology that could provide better internet speeds – up to 20X faster than today. This is essential in order to sustain the growing market from the economic ruins brought by the global pandemic.
As a result, the European Union puts one-fifth of its $914 billion recovery fund to improve the digital capabilities of the nations. In fact, the European telecom operators have been reluctant to invest in the 5G networks because of the lack of administrative clarity – associated with the exclusion of Huawei and other Chinese operators.