Taiwan's Foxconn to invest up to $1 bn in Indonesia

February 9, 2014

Taiwan technology giant Foxconn group has signed a letter of intent to invest up to $1 billion in Indonesia as it seeks to diversify production away from China, officials said Sunday.

Foxconn, also known by its Taipei-headquartered mother company Hon Hai Precision Industry which is the world's largest contract electronics maker, said the would be in Jakarta province, which has better infrastructure than other regions of the country.

"We plan to come up with detailed investment plans for the Indonesian and Jakarta authorities in three months," a Hon Hai official told AFP.

The investments would be completed in three to five years in areas ranging from R&D, electronics software design and Internet business to and assembly of electronic products, she said.

The move is part of the conglomerate's efforts to diversify investments from China where it has set up huge manufacturing facilities to make products for Apple—including iPhones—as well as Sony and Nokia.

The group employs about one million workers in China, roughly half of them based at its main facility in the southern city of Shenzhen.

But officials from the group said China was gradually losing its attraction as a global factory featuring cheap labour and land.

Foxconn in late 2013 also announced that it was planning to spend $40 million in manufacturing and research facilities in the United States.

The group has production facilities in more than 10 countries, including Vietnam, Brazil and Mexico.

Explore further: Taiwan's Hon Hai delays opening plant in Indonesia

Related Stories

Taiwan's Hon Hai delays opening plant in Indonesia

December 6, 2012

Taiwanese technology giant Hon Hai Precision has postponed construction of a mobile phone factory in Indonesia which was to have begun by the end of this year, a report said Thursday.

Taiwan's Hon Hai to hire 3,000 after Mozilla tie-up

June 20, 2013

Taiwan's Hon Hai Precision said Thursday it aims to hire up to 3,000 new employees to develop devices and software for Mozilla's Firefox operating system as it seeks to diversify from its core manufacturing services.

Taiwan's Hon Hai in tie-up with Mozilla

June 3, 2013

Taiwan's tech giant Hon Hai Precision Monday announced plans to develop devices and software using Mozilla's Firefox operating system, in an attempt to diversify its existing manufacturing services.

Taiwan's Hon Hai looks to robot industry

October 31, 2011

The parent company of Taiwanese tech giant Foxconn plans to mass produce industrial robots as part of its efforts to cope with labour shortages and rising wages.

Recommended for you

A not-quite-random walk demystifies the algorithm

December 15, 2017

The algorithm is having a cultural moment. Originally a math and computer science term, algorithms are now used to account for everything from military drone strikes and financial market forecasts to Google search results.

US faces moment of truth on 'net neutrality'

December 14, 2017

The acrimonious battle over "net neutrality" in America comes to a head Thursday with a US agency set to vote to roll back rules enacted two years earlier aimed at preventing a "two-speed" internet.

FCC votes along party lines to end 'net neutrality' (Update)

December 14, 2017

The Federal Communications Commission repealed the Obama-era "net neutrality" rules Thursday, giving internet service providers like Verizon, Comcast and AT&T a free hand to slow or block websites and apps as they see fit ...

The wet road to fast and stable batteries

December 14, 2017

An international team of scientists—including several researchers from the U.S. Department of Energy's (DOE) Argonne National Laboratory—has discovered an anode battery material with superfast charging and stable operation ...

1 comment

Adjust slider to filter visible comments by rank

Display comments: newest first

Skepticus
not rated yet Feb 09, 2014

The plan was approved by the PRC. The long term intention is to stuff the Indonesians' mouth with cash so that they will choke on their protestations of China's plan of annexing the Western Pacific oceans.

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.