Minister Says Foxconn Investment Uncertain
10 April 2014 15:34 WIB
TEMPO.CO, Jakarta - Minister of Industry Mohamad Suleman Hidayat, stated that Foxconn's plan to make an investment in Indonesia is uncertain as no progress was made after since the company has reached an agreement on land with the Jakarta Administration last month.
Foxconn had signed a Letter of Intent at the Jakarta Governor's office on February 2014. Foxconn director Terry Gou said that US$1 billion would be invested in three to five years. Gou also promised that the investment will create jobs for young workers from Jakarta and other regions.
Hidayat said that he was not concerned with Foxconn's decision to stall its investment plan in consideration that the company could be waiting on the results of the presidential election before taking further steps. He also said that other mobile phone manufacturers have made their commitment to invest in Indonesia this year although refusing to reveal name of the companies due to non-disclosure agreements.
Although these prospective manufacturers are not as large as Foxconn, Hidayat said that they would have their own land to construct manufacturing facilities and would partner with local investors.
ALI HIDAYAT
