Speaking of Guo Taiming , a Taiwanese entrepreneur, can be said to be known to everyone in the mainland. His Foxconn is famous in the mainland. Foxconn's parent company, , Hon Hai , is the world's largest OEM company, , and many technology companies' products are OEM manufactured by Foxconn.
40, Terry Gou came to Shenzhen. He was optimistic about the development of the mainland and the huge labor force in the mainland, so Terry Gou began to build a factory in Shenzhen. Foxconn and the mainland economy have taken off almost at the same time, and at the same time, Terry Gou’s personal wealth is also developing rapidly. With the rapid development of Hon Hai Group , Terry Gou has become the richest man in Taiwan and the world's top richest man.
But 40 years later, after Terry Gou failed to enter the United States, his eyes have begun to turn to Southeast Asia. Many people have been hyping Vietnam's economy this year. It is believed that Vietnam's economy will develop rapidly, and even Li Ka-shing is investing in Vietnam this year. But Terry Gou has more vision than Li Ka-shing. He started investing in Vietnam in 2007. That year Vietnam joined WTO.
Terry Gou announced that he would invest $5 billion in Vietnam and began to relocate some of his factories to Vietnam. According to the latest news, Terry Gou will further increase his weight in Southeast Asia, and his Hon Hai Group will invest an additional $1 billion in Thailand. This time, Terry Gou's attention was to Thailand's electric vehicle market.
Southeast Asia has a rich labor force, which has a huge advantage for labor-intensive enterprises. Labor-intensive OEM companies have very low profit margins, so transportation costs are the key. Factory must be built in coastal cities to ensure low transportation costs. This is why many people say why China's industrial transfer is not from the coast to the mainland, but from the coast to Southeast Asia.
Of course, Foxconn also tried to transfer to Henan and built a huge factory in Zhengzhou. But the temptation of Southeast Asia is even greater. Southeast Asia has convenient ports, many countries have rich coastlines, and labor costs are very low. The only disadvantage is that the infrastructure is too poor and the supply chain has not yet developed.
However, Terry Gou started to make plans as early as 2007. That year, he bought 400 hectares of land in Vietnam. In 2020, according to reports from Vietnamese media, Terry Gou's Hon Hai's revenue in the Vietnamese market had reached US$6 billion, US$3 billion more than the previous year. According to Hon Hai's plan, they will develop the revenue of the Vietnamese market to US$40 billion in about five years. In addition to the Southeast Asian market, Terry Gou also values the Indian market. This is a country with a population of more than one billion, and 800 million of them are young laborers.
Many people know that Terry Gou started his business in the mainland and became the richest man in Taiwan with his huge labor force. Now he is investing heavily in Southeast Asia, which is really unacceptable. But everyone has to understand that this is the real business.
Capital is always profit-seeking. This was the case with the transfer of the industrial chains of the United States and Japan to China, and now the transfer of the industrial chain to Southeast Asia has nothing to do with feelings. Capital will always flow to low-lying places.
If China wants to ensure that enterprises do not lose, it must show greater comprehensive advantages, such as creating better infrastructure conditions, providing better supply chain advantages, and giving enterprises more services and guarantees.
Terming Gou is not the first to invest in Southeast Asia, nor will he be the last one. With the rise in labor costs and land prices in the mainland, more Terry Gou will appear in the future.
As for emotional matters, everyone still needs to understand them. Capitalists have always been profit-seeking. In order to invest in the United States, Terry Gou can also donate $100 million to the University of Wisconsin in the United States. More than half of Hon Hai’s assets are still in the mainland, and their core businesses and factories are still in the mainland.
Southeast Asia will take time to rise, but for us, we must cherish every day. On the one hand, we must complete industrial transfer and occupy a more favorable position in the mid-to-high-end manufacturing industry. At the same time, we should also think of more ways to maintain the mid-to-low-end manufacturing industry.
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