The Thailand Board of Investment (BOI), in collaboration with the Thai Printed Circuit Association (THPCA) and the Hong Kong Printed Circuit Association (HKPCA), organizes the trade exhibition of electronic circuits and services in Asia, known as Thailand Electronics Circuit Asia (THECA). This platform aims to portray Thailand's potential and progress as the ASEAN and global hub for electronics circuit manufacturing. This collaboration leads to create 80,000 more jobs on electronics industry and accelerating the establish of Thailand Electronics Circuit Center to meet labor demand. Resulting from decades of joint efforts to develop the PCB industry between the public and private sectors. The event is scheduled for July 24th -26th, 2024 at the BITEC Exhibition and Conference Center, Bangkok.
Mr. Narit Therdsteerasukdi, Secretary General of the BOI, revealed that the changing dynamics of the global economy have led to a significant shift of major manufacturing bases to Thailand, particularly in the semiconductor and Printed Circuit Board (PCB) industries. Thailand's infrastructure, highly skilled workforce, and robust supply chains have made it an attractive destination for global investors, especially in the electronics and PCB sectors.
The electrical appliances and electronics industry holds paramount importance to Thailand's economy, ranked 1st as the top export goods and contributing to one-fourth of the country's total exports. Over the past three years, investment promotion applications in this sector have surpassed 535,000 million THB. We also witnessed a notable increase in 2023, with investment in the sector reaching 334,800 million THB, marking a 2.5-fold rise compared to 2022 and constituting almost 40% of all investment promotion applications.
This growth is particularly remarkable in the PCB and PCBA sectors, with a significant leap in investment from 15,600 million THB in 2021 and 15,900 million THB in 2022, to over 100,860 million THB in 2023. This momentum also continues to grow steadily in 2024. In the first 5 months of 2024, BOI received 27 investment promotion applications for PCB and PCBA, worth a combined 36,044 million THB, primarily driven by leading companies from China, Taiwan, Japan, and Hong Kong.
This moment marks a significant turning point for Thailand to enhance its sustainable electronics manufacturing base in Thailand. The BOI has promoted its new investment promotion measures. Expanding support for the comprehensive the PCB industry covering the entire supply chain. This initiative includes private sector collaboration to foster industry linkages and create business opportunities for Thai operators in component manufacturing and raw material supply to these PCB manufacturers.
The THECA event serves as a remarkable venue for buyer-seller interactions among the PCB industry, creating networks among entrepreneurs and facilitating business negotiations that lead to parts trading, original equipment manufacturer (OEM), and joint ventures between Thai and foreign companies. This three-day event is expected to create approximately 1,000 business matches, with expected transactions exceeding 20,000 million baht. This event will strengthen Thailand's PCB supply chain and support growth in high-technology industries using PCB as key parts, including smart appliances, automotive, telecommunications, medical equipment, automation systems, and robotics, which will foster Thailand as a hub for new strategic industries, fostering a strong and sustainable economic growth.
Mr. Pithan Ongkosit, President of THPCA, stated that BOI’s support has garnered global attention from industry operators. Currently, Thailand holds a 4% market share in electronics circuits. With the establishment of 50 additional factories supported by BOI investments, this share could rise to 10%, positioning Thailand as the fourth largest in the world, following China, South Korea, and Japan. This growth is projected to create 50,000 to 80,000 jobs in the electronics circuit sector.
The global PCB market is expected to reach 3 trillion THB (86.17 billion USD) by 2026, growing at an average annual rate of 3.3%. HDI PCBs, known for their compact size, high efficiency, and lightweight, are expected to grow at 11.1%. Flexible PCBs are also in high demand for wearable technology and smart devices, with the market projected to be worth 530 billion THB (15.29 billion USD) by 2026.
Therefore, the Thai Printed Circuit Association led by Mr. Swaek Prakitritanon, Vice President and General Secretary, has collaborated with the Thai Microelectronics Center (TMEC), led by Researcher Dr. Wutthinan Jeamsaksiri, and Mahanakorn University of Technology, represented by Professor Dr. Vissanu Meeyoo, Executive Vice President (Research and Innovation), to establish the Thailand Electronics Circuit Center (TECC). The center focuses on research and development (R&D), strengthening the local supply chain, producing PCB prototypes, and continuously developing personnel and electronic products within the country. These efforts aim to promote the advancement and sustainability of Thailand's electronics industry.
Mr. Puthana Daoruang, General Manager of THPCA, highlighted the tradeshow’s alignment with the electronics industry’s needs. THECA will feature business matching activities, innovative displays from 200 leading companies, over 20 international seminars, and opportunities for upskilling and reskilling. The event will also serve as a platform for job seekers to connect with businesses and industry experts from across Asia, Europe, and North America, expecting to attract over 3,000 attendees globally.
Mr. Salanroj Sutaschuto, Senior Vice President of the Thailand Convention and Exhibition Bureau (TCEB), emphasized THECA’s significance for the MICE industry. The trade event supports TCEB’s strategic future industries, including food security, creative soft power, health-tech innovation, and smart city development. Showcasing advanced technologies and innovations at THECA will enhance Thailand’s reputation as a high-value-added destination in Asia. Mr. Canice Chung, Chairman of HKPCA, concluded that the global PCB and PCBA industry’s increasing interest and confidence in Asia, particularly Thailand, underscores the region’s importance in the future of electronics innovation. Key industry supporters for the THECA 2024 include KCE Electronics Plc., Auromex Co.,Ltd, Mitsubishi Electric Factory Automation (Thailand) Co.,Ltd led by Mr. Wichiene Ngamsukkarsemsri, Managing Director, and Delta Electronics (Thailand) Plc. led by Mr. Yongyuth Pakdoungjan, Human Resource Development Director, with participation confirmed from industry associations and companies from China, Hong Kong, Taiwan, South Korea, Japan, the Philippines, India, and the Netherlands.
