Inmarsat's CEO, Robert Pearce, has commended the innovative idea of China's Belt and Road Initiative and the potential that it holds, Fibre2Fashion reports.
Xi first proposed the Belt and Road Initiative in 2013. The aim is to bring a closer connection to African, Asian and European countries as a result of upgrading infrastructure and promoting the mutually beneficial cooperation.
Last year, the Chinese government released an action plan for the scheme which stated the goal is to "form an infrastructure network connecting all sub-regions in Asia and between Europe and Africa".
To achieve the full economic potential of the initiative, considerable investment in infrastructure will be required.
"China is already making substantive commitments to realizing the initiative and it is clear that foreign investors too see the long-term benefits of this globally important initiative," Robert Pearce said.
The British satellite telecommunications company has signed a Memorandum of Understanding with China Transport Telecommunication and Information Center (CTTIC).
Inmarsat's Global Xpress mobile satellite broadband communications service will be the focus of the strategic partnership.
Global Xpress will give global coverage to its users by utilizing numerous satellites positioned around the world. This will allow the communication service to be used "anywhere in the world and get a data speed of 50MB per second", Pearce explained.
"The MOU with CTTIC was about positioning a partnership between Inmarsat and CTTIC to deliver those services not only in China, but also across the whole of the Belt and Road region. That is a very strategic initiative for China," Pearce added.