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Telangana CM assured Foxconn of complete support including permits and incentives for setting up their factories in the Fourth City
What’s the story
Foxconn‘s Chairman Young Liu has expressed a strong interest in investing in Hyderabad.
This was revealed during a meeting with Telangana Chief Minister A Revanth Reddy.
The discussion centered around the city’s growing capabilities in the industrial and service sectors, as well as the potential benefits of the Fourth City project.
Liu commended Reddy’s vision for this ambitious initiative, stating that “Hyderabad city has the potential to expand in all sectors.”
Reddy highlights Hyderabad’s industrial potential to Foxconn
During the meeting, Reddy highlighted Hyderabad‘s rich historical legacy and industrial potential.
He emphasized the city’s consistent industrial growth over the years, unaffected by political changes.
The chief minister also mentioned the phased development of three cities in Hyderabad and introduced the Fourth City project aimed at comprehensive expansion in various sectors including education, sports, healthcare, electronics, electrical industries and skill development.
Liu met Reddy at his official residence in Delhi
#WATCH | Foxconn Chairman Young Liu met Telangana CM Revanth Reddy at his official residence in Delhi, today. The Foxconn Chairman announced plans to visit Hyderabad with his team in the near future.
(Video: Department of Public Relations, Telangana) pic.twitter.com/aVD2kgGL6C
— ANI (@ANI) August 16, 2024
Fourth City project: A hub for skill development, industry growth
The Fourth City project includes the establishment of the Young India Skill Development University on the outskirts of the city.
Leading industrialists, including Anand Mahindra, are helping with the university’s curriculum design, to equip youth with skills required by modern industries.
Reddy also underscored Hyderabad’s strategic advantages like its International Airport, Outer Ring Road (ORR), and Regional Ring Road (RRR).
He assured Foxconn of complete support including permits and incentives for setting up their factories in the Fourth City.
Foxconn plans exploratory visit to Hyderabad
Liu, impressed by Reddy’s visionary approach, expressed Foxconn’s strong interest in exploring investment opportunities in Hyderabad.
He revealed plans for an initial visit by a team led by Chief Campus Operations Officer Kathy Yang and India representative V Lee, followed by his own visit shortly after.
Liu also praised the vision behind the Fourth City and the pro-industrial policies, stating he looks forward to personally visiting Hyderabad soon.
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