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Thursday, 26 May 2011 - Analysis: iPad prospects spur Brazil high-tech drive |
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    Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Alleged Tucson shooter ruled incompetent for trial 3:49pm EDT Scotty in with a chance? "Dancing" audience beats "Idol" 1:48pm EDT WRAPUP 3-US Democrats press advantage after election win 4:35pm EDT Elizabeth Smart kidnapper could face life in prison 8:48am EDT Tornadoes death toll rises, more storms forecast | 4:42pm EDT Discussed 327 Obama and Netanyahu face tense meeting on Mideast 127 As hours tick by, ”Judgment Day” looks a dud 105 Broadcaster silent as Judgment Day hours tick by Watched Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 Deadly Missouri tornado captured on video Mon, May 23 2011 Funnel cloud touches down in Oklahoma 4:31am EDT Analysis: iPad prospects spur Brazil high-tech drive Tweet Share this By Stuart Grudgings RIO DE JANEIRO (Reuters) - The prospect of a mammoth $12 billion investment by iPhone maker Foxconn Technology Group has sent Brazilian government officials scrambling to rethink the country's industrial policy. The aim is to... Email Print Related News Sony shares up on forecast, but more hacks found Tue, May 24 2011 Apple investors brush off China blast impact Mon, May 23 2011 Sony to post $3.2 billion annual loss on tax write-offs Mon, May 23 2011 Apple probes blast at Chinese plant linked to iPad Fri, May 20 2011 Economic data suggests soft patch continues Tue, May 17 2011 Analysis & Opinion IBM looks set to sustain march on tech rivals Welcome to the global slowdown Related Topics Technology » Media » iPad » Employees work inside a Foxconn factory in the township of Longhua in the southern Guangdong province in this May 26, 2010 file photo. Credit: Reuters/Bobby Yip/Files By Stuart Grudgings RIO DE JANEIRO | Wed May 25, 2011 12:52pm EDT RIO DE JANEIRO (Reuters) - The prospect of a mammoth $12 billion investment by iPhone maker Foxconn Technology Group has sent Brazilian government officials scrambling to rethink the country's industrial policy. The aim is to nurture a high-tech industry that will slash Brazil's costly dependence on tech imports and create a complete production chain in Brazil to feed rampant demand for products like smartphones and tablet computers. An incentive package being discussed by a special government taskforce could mark a bold shift in policy spurred by the Taiwan firm's announcement last month that it is considering a major expansion in Latin America's largest economy. Development of an electronics production chain would help ease one of Brazil's most serious economic imbalances -- a huge trade deficit with China and other countries in high-value manufactured products that create the smarter, higher-paying jobs that Brazil wants. Government officials told Reuters they plan to use the Foxconn opportunity, which they say could be the single biggest foreign direct investment in Brazil, to encourage a home-grown industry centered on the production of LCD screens used in a swathe of products from high-end televisions to tablets. Foxconn -- whose main listed flagship is Hon Hai Precision Industry -- could start producing Apple's iPhones and iPads at its existing factory in Sao Paulo state by July, Brazilian officials said. But the bulk of the $12 billion is to build an "intelligent city" production center to make screens, said Ricardo Schaefer, deputy vice minister at Brazil's trade and industry ministry. "LCD technology is dominated by Taiwan, Korea, Japan and a growing part in China. We are thinking of the next step that will allow us to catch up with these countries -- we are designing a new industrial policy," he said. The network of services to support the new factory, such as broadband Internet and energy, could be compared to that required by the auto industry, he said. To achieve this production chain the government is willing to give high-tech companies special treatment on tax and other incentives to make their products in Brazil, helping to counter common complaints about high labor costs, red tape and poor infrastructure. GROWING FAST Heavy Chinese demand for commodities such as iron ore and soy has boosted Brazil's economy in recent years but fueled concerns about a lopsided trade relationship. A wave of manufactured Chinese imports, which have quintupled in size since 2005, has badly hurt Brazilian manufacturers and become a political headache for President Dilma Rousseff. Brazil's commodity and consumer-driven economy imported $22.2 billion worth of electronics equipment last year, up nearly 43 percent from 2009, trade data show. Its trade deficit in "high-technology" goods grew more than 11 percent in the first three months of this year to $6.8 billion. The new Foxconn investment in Brazil, which CEO Terry Gou discussed with Rousseff during her trip to China in April, would help tech companies sidestep hefty import tariffs on products that drastically raise prices for consumers. An iPad in Brazil retails for double its U.S. price. Despite such lofty prices, an emerging middle class is fueling strong sales of computers and cellphones. Sales of computers reached 3.6 million units in the first three months of this year, up 22 percent from a year ago, according to technology research firm International Data Corp. Firms have been ramping up domestic production in recent years, albeit from a low base. "It's in its infancy but it's really growing fast," said Andy Grouwstra, the head of development for California-based microchip designer Perceptia, which has invested about $900,000 in its small Brazilian operation. Perceptia's three Brazilian chip engineers are based in Campinas city in Sao Paulo state, considered Brazil's "Silicon Valley" for its cluster of high-tech firms. "In five years it's gone from people just talking to people engaging in real projects," he said. Aside from Apple, Foxconn's clients include Hewlett Packard, Sony and Dell. It has yet to give details on its Brazil plans but officials say the $12 billion investment would be over 5-6 years and create 100,000 jobs. BUREAUCRATIC BARRIERS As a first step to encourage the 12 firms it says want to expand production of tablet computers in Brazil, including Samsung Electronics and LG Electronics, the government passed a provisional law on Monday to cut taxes on those products that should slash prices by around a third. Schaefer, who has been directly involved in talks with Foxconn, said the government was "very close" to agreeing the next step -- a reduction in the industrial products sales tax that would be tied to requirements to source components in Brazil in the coming years. "There is a huge interest in producing tablets in Brazil," he said. "I think companies will have enough information and incentives to bring together their business plans and start production in Brazil." The government taskforce composed of three ministries and the BNDES national development bank is discussing other requests for incentives from Foxconn, including possible BNDES loans and priority customs treatment at airports and ports. Executives in Brazil's nascent tech sector hope that Foxconn may provide the battering ram to smash barriers that have held back growth and prevented the industry from putting down deeper roots. Grouwstra described Brazilian customs as a "complete nightmare" that often resulted in long delays for deliveries of equipment and components. "Any way they can help the industry that would be huge," he said. Heavy labor regulation also makes it as expensive for Perceptia to employ an engineer in Brazil as in Silicon Valley, despite significantly lower productivity. "The productivity isn't there yet," Grouwstra said, adding it would likely take five to 10 years to reach U.S. levels. (Editing by Andrew Hay) Technology Media iPad Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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