Asia Express - East Asian ICT
Foxconn to Invest US$10 Billion in Indonesia
February 10, 2014

Foxconn has signed a LOI (Letter of Intent) with the Indonesian government to invest US$1 billion in the country, especially in the Jakarta province where the infrastructure is better, as part of the company's plan to spread its production facilities outside China, reported AFP on February 8. A more detailed plan for the next three to five years with investment areas ranging from R&D, software design, and Internet business to the production of electronic products, is expected to be worked out in three months, said Foxconn. Aside from Indonesia, Foxconn also announced in late 2013 that it was to spend US$40 million on establishing R&D and production facilities in the United States.