$7b flat-screen investment in US confirmed

The head of tech giant Foxconn Technology Group confirmed on Sunday he is considering a $7 billion investment to make flat panels in the United States in a joint project with Japan’s SoftBank Corp.

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 the US, generate 50k + 50k new jobs in next four years”.

Foxconn, a major supplier to Apple Inc, 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 said 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 30,00050,000 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 Precision Industry Co, employs around 1 million workers at its factories across China and has operations in more than 10 countries.

I have discussed with my major clients about going to (the US).” Terry Gou , chairman of Foxconn Technology Group