Thailand has received more than $26.8 billion in investment applications for semiconductor and advanced electronics projects in the past three years, the country's investment promotion agency said as manufacturers look to expand production from established hubs.
According to Thailand's Board of Investment (BOI), 880 high-tech projects were proposed between 2023 and mid-2026. Printed circuit boards (PCBs) accounted for the single largest share, with 224 projects worth US$9.85 billion.
The BOI attributed the inflow to global demand related to artificial intelligence (AI), next-generation semiconductors, electric vehicles, and high-performance computing.
"Amidst the restructuring of global supply chains, Thailand is emerging as a major global manufacturing base for printed circuit boards," BOI Secretary-General Narit Therdsteerasukdi said in a statement.
Narit said that more than half of the world's leading PCB manufacturers have chosen Thailand as their production base and are expanding their operations in the country to involve local suppliers into the global technology ecosystem.
The Southeast Asian nation's advanced electronics market is projected to be worth between $48 billion and $52 billion by 2026, according to BOI estimates.
Pitharn Ongkosit, president of the Thailand Printed Circuit Association, said the semiconductor and advanced packaging segments are projected to grow by 15-20 percent annually, while demand related to AI servers and data center infrastructure is increasing by up to 22 percent annually.
This indicates that advanced electronics is increasingly becoming a core driver of Thailand's industrial economy, Pitharn added.
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