Thailand establishes semiconductor board to boost industry

Thailand aims to bolster its standing in the regional semiconductor industry, with significant efforts underway to prepare a skilled workforce for escalating demands.

This move is marked by the formation of the National Semiconductor and Advanced Electronics Industry Policy Committee, also known as the National Semiconductor Board, chaired by Prime Minister Paetongtarn Shinawatra.

Paetongtarn signed an order to establish the semiconductor board yesterday, October 25. This new body will set policy directions and goals for developing the country’s semiconductor and advanced electronics industry. It will also devise a road map to promote investment, develop a skilled workforce and supply chain, and create an environment conducive to strengthening the industry.

The semiconductor board will screen action plans and projects submitted by state agencies for the industry’s development before presenting them to the Cabinet for approval. Additionally, it will follow up on and assess these projects to ensure they deliver tangible results.

The board comprises Finance Minister Pichai Chunhavajira as deputy chairman and other Cabinet ministers as members, including the Foreign Affairs Minister, the Minister of Higher Education, Science, Research and Innovation, the Digital Economy and Society Minister, and the Industry Minister.

Other committee members include the secretary-general of the National Economic and Social Development Council, the secretary-general of the Vocational Education Commission, and the president of the Federation of Thai Industries. The secretary-general of the Board of Investment (BOI) will serve as the board’s secretary.

Attracting foreign investment

Pichai praised Paetongtarn’s decision to establish the semiconductor board, noting that the initiative will benefit the country’s economic growth by attracting foreign investment in technological development.

The government plans to support investment in the industry through the BOI’s Competitiveness Enhancement Fund. This fund offers promotional privileges for investors, including financial support, exemption from corporate income tax, and a waiver of tariffs on imported machinery and raw materials.

Pichai highlighted that the establishment of the semiconductor board marks a significant starting point for the industry’s development, with a clear strategy to improve its semiconductor supply chain. With the PM as the board’s chairman, the government is fully committed to strengthening Thailand’s position as a leader in the regional semiconductor and advanced electronics industry, he added.

Pichai said that the board will ensure consistency, cohesion, and speed in implementing policies and measures to achieve the goals.

Semiconductors are key components in modern electronics, including microprocessors, memory chips, computers, smartphones, electric vehicles, and artificial intelligence.

This strategic initiative reflects Thailand’s dedication to enhancing its technological infrastructure and economic resilience, paving the way for future growth in the advanced electronics sector, reported Bangkok Post.