Earlier, we reported that Taiwan technology giant Foxconn decided to invest $40 million in US manufacturing. Lately, it’s been reported that Foxconn has planned to invest up to $1 billion in Indonesia for diversifying production away from China.
Foxconn is the world’s largest contract electronics maker. The company has been making and delivering electronic products from China since long time. But that is about to change. This Sunday, some officials of Foxconn mentioned that Foxconn has signed a letter with the intent of investing up to $1 billion in Jakarta province, Indonesia, so that the company would be able to make and deliver electronic products from there besides China. The company has chosen Jakarta province as it has better infrastructure than other regions of the country.
Foxconn’s Taipei-headquartered mother company, Hon Hai Precision Industry said, “We plan to come up with detailed investment plans for the Indonesian and Jakarta authorities in three months.” It’s been also said that the investments would be completed in three to five years in areas ranging from R&D, electronics software design and Internet business to manufacturing and assembly of electronic products.
Source: Business Insider