"Wireless technology today creates jobs inside of telecoms companies, but in the next five to 10 years it will be much wider impact compared to the previous generation," said Tong.
"For example the GSM is limited to telecommunications and just delivered a voice service, but 5G is not a telecom technology only. It will impact many many other things, so investment in 5G is one aspect to create the job opportunity and skills but it is much more broader.
"For example 5G will be getting towards machine to machine usage. It will go through different vertical segments, into the car, into the hydropower grid, into agriculture. 5G will be a very dominant technology to transform those industries."
The global telecommunications industry, valued at £1.28 trillion per annum, is already responsible for six percent of world GDP, and mobile communications data traffic is expected to increase 1,000 fold by 2020. The ICT sector in Europe currently supports around seven million jobs.
UK universities minister David Willetts has previously claimed that the UK should should be competing to be at the forefront of 5G development, having missed out on 3G and 4G.
"We were world leaders in second generation mobile telephony, and we did great stuff in the 1980s and we set standards in mobile telephony. We went off the pace for 3G and 4G, and we are very keen to be once more world leaders in 5G," he said last year.
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