The Board of Investment (BoI) in Thailand has granted approval for 20 new investment projects valued at 30 billion baht from Taiwanese electronics companies. This strategic move is geared towards positioning Thailand as a pivotal export hub for the electronics industry.
These companies are seeking to diversify their operations and mitigate the impacts of geopolitical conflicts, notably the China-Taiwan tensions. Additionally, they are drawn to Thailand due to its favorable operating cost environment in comparison to the United States and Europe.
With the inclusion of electronics firms from China and Japan, Thailand is poised to solidify its standing as a significant printed circuit board (PCB) manufacturing center within the ASEAN region. These enterprises intend to leverage Thailand as a new export base to shield themselves from the ramifications of geopolitical conflicts, particularly the China-Taiwan tensions. This strategic move is expected to stimulate growth in the electronics sector and elevate Thailand’s status as a major PCB manufacturing hub in ASEAN.
The BoI is actively planning to attract more electronics companies, particularly those from Taiwan, to invest in Thailand as part of its five-year investment promotion strategy. Taiwan is a key target for investment with the aim of bolstering the high-tech industry hub situated in the Eastern Economic Corridor (EEC) of Thailand.
Taiwan has solidified its position as a prominent player in the electronics industry, accounting for over 65% of the global semiconductor market and 35% of the PCB market.
Thailand has emerged as an alluring destination for Taiwanese manufacturers due to its robust infrastructure, investment-friendly policies, ample room for expansion, and a skilled labor force. The Board of Investment (BOI) has also played a pivotal role in enhancing Thailand’s attractiveness by extending invitations to members of the PCB manufacturing association for on-site visits, resulting in increased PCB investment projects.
Furthermore, Taiwanese manufacturers recognize Thailand’s potential as a producer of upstream electronic components. Thailand currently holds the distinction of being the largest PCB manufacturing hub in ASEAN, surpassing competitors such as Vietnam and Malaysia.
READ MORE: https://bangkokone.news
