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Thailand’s BoI Approves 20 Taiwanese Electronics Investment Projects Worth 30 Billion Baht
The Board of Investment (BoI) in Thailand has approved 20 new investment projects worth 30 billion baht from Taiwan-based electronics companies.
Key Takeaways
- The Board of Investment (BoI) has approved 20 new investment projects worth 30 billion baht from Taiwanese electronics companies, aiming to establish Thailand as a new export base for the industry.
- This move is driven by the companies’ desire to diversify and mitigate the impact of geopolitical conflicts, such as China-Taiwan tensions, while also benefiting from lower operating costs compared to the US and Europe.
- With the inclusion of electronics companies from China and Japan, Thailand has the potential to become a major printed circuit board (PCB) manufacturing base in ASEAN, further strengthening its position in the electronics industry.
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.
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