BOI electric push: Thai circuit suppliers charged up with global incentives
Thailand’s Board of Investment (BOI) unleashed a wave of support and several incentives to catapult local electronic circuit suppliers onto the global stage.
This commitment aligns with Thailand’s grand vision of becoming Southeast Asia’s electronic industry hub, focusing on the cutting-edge production of Printed Circuit Boards (PCB) and Printed Circuit Board Assembly (PCBA) – the lifeblood of all smart devices.
Amidst the global tech and trade wars, Thailand emerges as the crowned jewel for PCB and PCBA manufacturers in the ASEAN region. With its promise of security, stability, sustainability, and neutrality, Thailand is the top choice for companies looking to escape the chaos. Narit Therdsteerasukdi, BOI secretary-general reveals that to make Thailand the electronic circuit board powerhouse, the board is teaming up with heavyweights like the Thailand Printed Circuit Association (THPCA).
The BOI’s strategic move not only positions Thailand as a magnet for investment but also aims to elevate local suppliers, ensuring the nation’s competitiveness remains unrivalled. Narit envisions a future where these suppliers venture into upstream industries such as wafer production and the design of cutting-edge products.
“Our incentives are already meeting investors’ needs; now it’s time to prevent our suppliers from falling behind.”
According to BOI, a staggering 106 projects, worth a whopping 150.56 billion baht, have sought investment promotion in PCB and PCBA production between November 2018 and the same month last year.
Last year alone witnessed 36 projects seeking investment promotion, totalling approximately 96 billion baht. Renowned manufacturers like Delta Electronics, Apex Circuit, KCE Electronics, and Cal-Comp Electronics continue to pour investments into Thailand, with newcomers like Zhen Ding Technology, Unimicron, and Compeq expressing keen interest, reported The Nation.
THPCA President Pitharn Ongkosit expresses gratitude for the collaboration with BOI and stresses the need for talent development in the industry. THPCA reveals that Thailand’s electronic circuit board industry, currently valued at over US$1.4 billion (approximately 48 billion baht), is expected to skyrocket to US$8 billion by 2025, driven by more than 30 additional investment projects, reported The Nation.
Trade show
As a testament to Thailand’s rising prowess, the authorities are gearing up for the Thailand Electronics Circuit Asia (THECA) trade show from July 24 to 26 at the Bangkok International Trade and Exhibition Centre (BITEC). Hosted by THPCA, this event promises to be a catalyst for investment, business opportunities, and product development.
Over 300 exhibitors and 4,000 delegates are expected to participate, creating international industrial networks and fostering economic growth. Representatives from China, South Korea, Japan, the Philippines, India, and the Netherlands have already confirmed their attendance.
