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March 17, 2022

Hon Hai mulls hi-tech investment in Saudi Arabia

Discussions with the Saudi government over plans to build a facility to make semiconductors and other electronic components.


Taiwan’s Hon Hai Precision Industry Company has held talks with the Saudi Arabian government to establish a US$9bn hi-tech plant in the kingdom, according to reports citing people close to the negotiations.

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The reports suggested Hon Hai, best known as Apple contract manufacturer Foxconn, was lookng to diversify its global production base due to the potential for trade relations between China and the US to deteriorate.

Taiwan is also claimed by China as an integral part of its domestic territory with many fearing it may look to take the island nation by force at some stage in the future.

Hon Hai reportedly had discussed with the Saudi government plans to build a “multi-purpose” facility for the production of semiconductors, other electronic components such as displays and also electric vehicle (EV) components.

Saudi Arabia has sought reassurances from Hon Hai at least two-thirds of the capacity must be part of Hon Hai’s existing supply chain plans to ensure minimum levels of plant utilisation.

Hon Hai had requested substantial investment incentives from the Saudi government including financing, tax holidays and utility subsidies in return for setting up a manufacturing base in the kingdom.

Hon Hai was also reported to have held similar discussions with the United Arab Emirates over the same project.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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