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Foxconn cancels plan to build factory in Indonesia, moves to M'€™sia

  • The Jakarta Post

    The Jakarta Post

| Tue, September 1, 2015 | 01:42 pm

Taiwanese electronics producer Foxconn has dropped its plan to build a cell phone factory in Indonesia due to land acquisition problems and is considering building it in Malaysia.

The head of the Indonesian Chamber of Commerce and Industry (Kadin), Suryo Bambang Sulistyo, said on Tuesday that the Taiwanese firm had requested free land in exchange for its US$1 billion investment in Indonesia. The government did not respond to the request. Suryo regretted the government'€™s lack of decisiveness.

'€œWe have plenty of land, we should have been able to give them some," he said, as quoted by kompas.com on Tuesday.

Previously, Foxconn'€™s parent company, Hon Hai Precision Industry, conveyed to the Indonesian government its plan to invest $ 1 billion in Indonesia, including a plan to build the factory.

It was reported that the plan was cancelled because the company considered the price of land in Cakung, East Jakarta, too high. But later on the company asked the government to offer the land for free.

Suryo said that due to its failure to secure the land, the company was now eying for Malaysia as a new investment target. (ika)(++++)

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