Foxconn owner mulls $1 billion Indonesia investment

Hon Hai Group, the Taiwan-based owner of Foxconn, the world’s largest contract electronics manufacturer, is mulling over the possibility of making a $1 billion investment in Indonesia, the company announced on July 13.

Group Chairman Terry Gou was in the country from July 6 to 10 on an invitation from the government to assess what potential the establishment of a production base in ASEAN’s largest economy could offer, the Taipei Times reported .

The vast archipelago has many attractive traits for investors: Indonesia is the fourth most populous nation in the world with over 240 million people, 50 per cent of which are under the age of 30.

Beyond favourable demographics, politically stability and impressive economic growth are likely factors that Gou will have to consider. President Susilo Bambang Yudhoyono’s democratically elected government, which took office in 2004, has since ushered in a new era of market-economy reforms that have cleaned up messy tax codes and an over-segmented banking sector.

The construction of manufacturing facilities born from the proposed investment are estimated to create one million jobs, a prospect that has lead the Indonesian government to consider tax breaks.

Hon Hai Group employs over one million workers in China, where iconic gadgets from Apple, Dell, Hewlett-Packard and Sony are assembled.

Hon Hai Precision Industry Co, the flagship corporation of Hon Hai Group, also recently announced a $111 million investment in Jiangsu province to expand facilities there, according to the Taipei Times.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Hon Hai Group, the Taiwan-based owner of Foxconn, the world’s largest contract electronics manufacturer, is mulling over the possibility of making a $1 billion investment in Indonesia, the company announced on July 13. Group Chairman Terry Gou was in the country from July 6 to 10 on an invitation from the government to assess what potential the establishment of a production base in ASEAN’s largest economy could offer, the Taipei Times reported . The vast archipelago has many attractive traits for investors: Indonesia is the fourth most populous nation in the world with over 240 million people, 50 per cent...

Hon Hai Group, the Taiwan-based owner of Foxconn, the world’s largest contract electronics manufacturer, is mulling over the possibility of making a $1 billion investment in Indonesia, the company announced on July 13.

Group Chairman Terry Gou was in the country from July 6 to 10 on an invitation from the government to assess what potential the establishment of a production base in ASEAN’s largest economy could offer, the Taipei Times reported .

The vast archipelago has many attractive traits for investors: Indonesia is the fourth most populous nation in the world with over 240 million people, 50 per cent of which are under the age of 30.

Beyond favourable demographics, politically stability and impressive economic growth are likely factors that Gou will have to consider. President Susilo Bambang Yudhoyono’s democratically elected government, which took office in 2004, has since ushered in a new era of market-economy reforms that have cleaned up messy tax codes and an over-segmented banking sector.

The construction of manufacturing facilities born from the proposed investment are estimated to create one million jobs, a prospect that has lead the Indonesian government to consider tax breaks.

Hon Hai Group employs over one million workers in China, where iconic gadgets from Apple, Dell, Hewlett-Packard and Sony are assembled.

Hon Hai Precision Industry Co, the flagship corporation of Hon Hai Group, also recently announced a $111 million investment in Jiangsu province to expand facilities there, according to the Taipei Times.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply