The Foxconn Technology Group, one of the biggest suppliers to U.S. tech giant Apple, will build a high-tech manufacturing base in south China's island province of Hainan, the Taiwanese company announced Sunday.

"I hope construction on the plant will begin in Haikou this year," Terry Gou, the group's chairman, said at the 2012 Boao Forum for Asia (BFA) in Boao, a scenic town on the eastern coast of the island, and the permanent site of the BFA.

The three-day forum, themed "Asia in the Changing World: Moving toward Sound and Sustainable Development," will officially open on Monday, with Chinese Vice Premier Li Keqiang delivering a keynote speech at the opening ceremony.

Gou said he was not sure about the timetable, as the local government will determine when construction can begin.

Gou broke the news while signing a strategic contract with Hainan Airlines, the country's fourth-largest air carrier, at the forum.

The companies will work together on logistics and e-commerce projects, allowing Foxconn to speed up its shipping and ensure that its products are delivered to global clients in a timely manner, Gou said.

He explained that the new plant will be manufacturing high-tech products, but did not disclose details such as what it will produce and the scale of the new facility.

Gou and Chen Feng, the president of Hainan Airlines, signed the contract Sunday afternoon and agreed that the two sides will also cooperate in areas including technology, real estate, and trade as well as in building electronics assembling lines.

"Hainan is not just an island for tourists. It should restructure its economy and be a town of high-tech products as well," according to Gou.

He said that Foxconn intends to invest in the province's manufacturing industry.

Hainan Airlines, founded in 1993, operates nearly 500 routes to more than 90 destinations around the globe.

As an international non-governmental, non-profit organization, the BFA is a forum for government, business and academic leaders in Asia and other continents to share opinions on pressing issues in the region and the world.