The Board of Investment (BoI) in Thailand has approved 20 new investment projects worth 30 billion baht from Taiwan-based electronics companies.
These companies are looking to use Thailand as their new export base to avoid the impact of geopolitical conflicts, such as the China-Taiwan tensions. The move is expected to fuel growth in the electronics industry and make Thailand a major printed circuit board (PCB) manufacturing base in ASEAN.
The BoI plans to invite more electronics firms, particularly from Taiwan, to invest in Thailand as part of its five-year investment promotion strategy. Taiwan is a target country for investment to boost the high-tech industry hub in the Eastern Economic Corridor (EEC) in Thailand.
Taiwan has established itself as a prominent player in the electronics industry, contributing to over 65% of the global semiconductor market and 35% of the PCB market.
Thailand has become an attractive destination for Taiwanese manufacturers due to its infrastructure, investment policies, space for expansion, and skilled labor. The Board of Investment (BOI) has also played a role in boosting Thailand’s appeal by inviting members of the PCB manufacturing association for a field trip, resulting in increased PCB investment projects.
Taiwanese manufacturers also see Thailand’s potential in becoming a manufacturer of upstream electronic components. Thailand is already the largest PCB manufacturing hub in ASEAN, ahead of competitors like Vietnam and Malaysia.
Source : Thailand Business News
September 21, 2023
