foxconn mulling 7bn investment in us
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Foxconn mulling $7bn investment in US

Arab Today, arab today

Arab Today, arab today Foxconn mulling $7bn investment in US

Foxconn has a plant in Virginia for packaging and engineering which employs over 400 people
Taipei - Arab Today

The head of Taiwan’s tech giant Foxconn confirmed Sunday he is considering a $7 billion investment to make flat panels in the US in a joint project with Japan’s SoftBank.
US President Donald Trump had announced before taking office a $50 billion deal with SoftBank, which he said would generate 50,000 jobs.
Trump was speaking last month alongside SoftBank’s chief executive Masayoshi Son, who displayed a document, which indicated Softbank and Foxconn would “commit to invest $50bn + $7bn in US, generate 50k + 50k new jobs in US in next four years.”
Foxconn, a major supplier to Apple, had earlier said it was in “preliminary discussions” with US officials about a potential investment but gave no details.
“I have discussed with my major clients about going to (the US) and they are also willing to invest, including Apple,” Terry Gou told reporters in Taipei after the company’s year-end party.
The firm is the world’s largest contract electronics maker and is best-known for assembling products for international brands such as Apple and Sony.
“Pennsylvania is active and I urge other states to act more quickly or I will sign the contract with Pennsylvania,” he said, adding that the investment could create 30,000-50,000 jobs.
Foxconn is still waiting to see the tax policies of the new US government and what incentives state authorities can offer, such as cheap land and electricity, Gou added.
Foxconn, also known as Hon Hai, employs around a million workers at its factories across China and has operations in more than 10 countries.
Last year it took over the struggling Japanese electronics maker Sharp after acquiring a 66 percent stake for $3.7 billion in a move Gou described as “really worth it.”
In the US, it has a plant in Virginia for packaging and engineering which employs over 400 people. It has also announced a $40 million investment in a facility in Pennsylvania to build precision tools and develop a robotics program.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

foxconn mulling 7bn investment in us foxconn mulling 7bn investment in us

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

foxconn mulling 7bn investment in us foxconn mulling 7bn investment in us

 



GMT 21:52 2017 Thursday ,19 October

Israeli forces arrest 7 Palestinians in West Bank

GMT 15:41 2017 Wednesday ,04 October

Putin warns against double standards in war on terror

GMT 23:42 2017 Monday ,18 September

Mattis 'shocked' by low level of US military readiness

GMT 17:36 2017 Saturday ,14 October

What's at stake for business in Iran's nuclear deal

GMT 14:14 2017 Saturday ,11 February

Ghada Adel praises participation with Adel Imam

GMT 21:00 2017 Thursday ,05 October

Scores of settlers storm into Al Aqsa

GMT 11:56 2017 Wednesday ,29 November

Iraqis throng to Picasso in Baghdad

GMT 05:43 2018 Wednesday ,12 September

"Ala" Syria determined to liberate Idleb from terrorism

GMT 19:47 2018 Thursday ,18 January

Sultan Al Qasimi launches Sharjah real estate projects

GMT 10:58 2017 Thursday ,20 April

Kabbara meets Saudi counterpart, IMO chief in Cairo

GMT 00:10 2017 Tuesday ,10 October

Turkey calls for new round of Syria talks in Geneva

GMT 00:29 2017 Tuesday ,24 October

HM King congratulates UN secretary-general

GMT 10:42 2017 Monday ,22 May

Egypt refers 48 IS suspects to military court

GMT 05:18 2017 Thursday ,12 October

Sub-Saharan Africa to grow at a slower rate this year

GMT 03:34 2017 Monday ,18 September

August24th-September23rd

GMT 23:32 2017 Thursday ,27 July

10 fishing boats to be sunk for poaching

GMT 08:09 2017 Tuesday ,25 April

Israeli enemy drone violates Lebanese skies

GMT 12:06 2017 Saturday ,21 January

Weakness in oil and gas dents GE earnings

GMT 17:20 2017 Tuesday ,01 August

Gum disease linked to higher cancer risk in women
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday