Bahlil set to fly to Taiwan for Foxconn Investment

Published on 27/02/2024 at 06:44 GMT+7 Reading time

Minister of Investment/ Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, is planning to fly to Taiwan soon to discuss Hon Hai Precision Industry Co. Ltd or Foxconn's investment plans in Indonesia.

"I was supposed to go to Taiwan days ago, but due to the elections, it was postponed. God willing, I will go there [Taiwan] soon," Bahlil said after attending the Open Doctoral Thesis Hearing Session of former Industry Minister Saleh Husin at the University of Indonesia, on Saturday, February 24, 2024.

In addition to the election timing, Bahlil stated that global dynamics also contributed to the delayed realization of Foxconn's investment in Indonesia. However, Bahlil claimed that Foxconn's commitment to investing in Indonesia has remained on track. "The commitment is there," said Bahlil. Media reports in February 2023 revealed that the Ministry of Investment had targeted Foxconn's investment plan to be realized in 2023. However, until now, Foxconn has not yet invested in Indonesia.

BKPM's Deputy for Investment Promotion, Nurul Ichwan, said Foxconn has been negotiating with the government regarding the location that will be used for the development of battery and electric vehicle industries in accordance with the calculations of the Taiwanese manufacturer.

On the other hand, he said, Foxconn is also considering the scale of relocating its factories from Taiwan to Indonesia. The hope is that when investing in Indonesia, Foxconn can still efficiently supply their existing markets in China, Europe, and the United States. "Their existing market is in China, so they need to reevaluate whether they can supply needs outside of China from Indonesia," said Nurul in February last year.

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