According to the Thailand Board of Investment (BOI), both the pandemic and the US-China trade have failed to slow down the country’s flexible electronics and electrical industry. In fact, the number of foreign and domestic companies in the E&E sector rose to 106 projects in the first nine months, totaling over $1.2 billion in the investment applications submitted to the Board of Investment.
Having a supply chain of around 2,500 companies and 800,000 employees, including researchers and doctoral degree holders, Thailand’s Electrical and Electronics Institute is indeed the biggest manufacturing sector.
The electrical and Electronic industry is key to Thailand 4.0
Mr Narat Ruijirat, the EEI president said that E&E is the key to the innovation-driven growth of the country. The vision includes creating a regional hub for the futuristic industries which involves medical devices, robotics, automation, and electric vehicles.
According to the GSB Research, Thailand’s biggest state-owned bank’s units, the sector has become a global powerhouse as well as the world’s second-largest exporter of computer hard disc drives, washing machines, and air conditioners.
To sum up, Thailand’s E&E sector generated $56.5 billion in exports in 2019. Aside from a robust supply chain and highly skilled human resources, the country’s attraction for this industry also stems from strategic geographical location at Asia’s crossroads, enabling it to be one of the top exporters in the world.
If you are thinking to invest in the E&E sector of Thailand, you will be benefited…
E&E companies that are focused on research and development and innovation can receive tax breaks for at least up to 8 years and incentives like renewable smart visas of up to 4 years for international talent and investors in the major sectors including smart electronics.
The Board of Investment supports E&E companies by assisting them in establishing industrial linkage, business matching, and sourcing of local suppliers. In fact, many have developed partnerships with local academic institutions.
