19 Dec '12, 2pm

Foxconn postpones US$10B Indonesian plant investment due to regulatory requirements, labor concerns

Foxconn postpones US$10B Indonesian plant investment due to regulatory requirements, labor concerns

Mobile device manufacturer Foxconn has postponed its planned investment into Indonesia, citing the need to comply with regulatory requirements and the concern for local labor issues. Foxconn is among today’s biggest manufacturers of smartphones, being a manufacturing partner of Apple for the iPhone. The company, registered in Taiwan as Hon Hai Precision Industry Co. Ltd., has seen aggressive expansion worldwide, due to the growing demand for mobile devices. While Foxconn has earmarked a US$10 billion investment in Indonesia, however, the manufacturing giant has had to put their investment off due to “several requirements the firm had to meet,” Industry Minister M.S. Hidayat said on Monday. The Minister declined to explain further, as negotiations and discussions are still ongoing, reports local English newspaper Jakarta Post . Aside from regulatory requirements, the terms ...

Full article: http://e27.sg/2012/12/19/foxconn-postpones-us10b-indonesi...

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