The state-owned Brazilian Development Bank is seeking a stake in a plant planned by Taiwan-based Hon Hai Technology Group (鴻海科技集團), or Foxconn Technology Group (富士康科技集團) as it is known overseas, in the Latin American country, Brazilian Minister of Science and Technology Aloizio Mercadante said on Friday.
Mercadante said the bank was still evaluating the Foxconn project before finalizing the size of the stake it will take.
The bank, associated with the Ministry of Development, Industry and Foreign Trade of Brazil, aims to provide financial support to the country’s private sector, foster sustainable and competitive development in the Brazilian economy and create jobs.
Foxconn is planning to invest US$12 billion (NT$348 billion) in Brazil over the next five years to produce iPads and iPhones for Apple and will assign US$8 billion out of the total funds to build touch panel production facilities.
Mercadante said the Brazilian government is determined to help Foxconn carry out the investment project, although the Taiwanese firm has not finalized the timetable and location yet.
Earlier, reports said Foxconn would set up a plant in the city of Jundiai, Sao Paolo State.
The official said his government was seeking potential local partners who are either sitting on ample funds or specializing in information technology development.
He said such a partnership would help the country develop its own touch panel production technology.
Currently, only Taiwan, China, South Korea and Japan produce touch panels in the global market and the touch panel business of the four countries are flourishing on the back of financial assistance from their governments, Mercadante said.
Mercadante said the Brazilian government planned to follow suit to help the local industry develop touch panel businesses.
He said because touch panels serve as one of the most critical precision components for tablet computers, smartphones and television sets, the efforts to nurture the particular business are expected to attract investments in other important computer components, and even semiconductors, to Brazil.
A media report in Jundiai once said Foxconn has started a training program on cellphone assembly for about 1,000 new workers in the city, but the Taiwanese investor has not yet obtained regulatory approval to operate the Jundiai plant.
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