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Aiming to have draft of plan for chip industry ready in 3

months

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Thai Investment Board working on roadshows to draw

investment

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Thailand logged 10-year high in value of investment

applications

in 2024

By Devjyot Ghoshal and Chayut Setboonsarng

BANGKOK, Feb 6 (Reuters) - Thailand aims to have an

initial draft of a strategic plan for its semiconductor sector

ready in the next 90 days, keen to attract fresh investment amid

U.S. President Donald Trump's renewed trade war with China.

The country's national semiconductor board will be hiring a

consultancy to develop an industry roadmap, Narit

Therdsteerasukdi, the secretary-general of the Thailand Board of

Investment (BOI) told Reuters.

Narit, who reports to the premier, is also working on

roadshows to the United States and Japan to drum up

semiconductor investments in Thailand.

The global semiconductor industry has been roiled in recent

years as the U.S. and China compete for tech supremacy. Some

supply chains have shifted to Southeast Asia and further turmoil

is likely in Trump's second term. Over the weekend, he announced

a 10% tariff on Chinese imports as part of a broad plan to

improve the U.S. trade balance.

Thailand, Southeast Asia's second-largest economy after

Indonesia, saw a 35% jump in the value of inbound investment

applications last year to a decade-high of 1.14 trillion baht

($33.5 billion).

"I expect the value of total applications (this year) to be

more than last year's figure, driven by investment in the

electronics and digital sectors," Narit said.

Thailand ranks second behind India in an analysis of top

emerging economies for semiconductor manufacturing, according to

a 2024 report by consulting firm Kearney.

It is targeting around 500 billion baht in new investments

in semiconductors by 2029.

"We focus on the power electronics (segment). For example,

the semiconductor used in the electric vehicle, data centre or

energy storage system," said Narit. "We think that this is our

strength."

Companies with chip-related facilities in Thailand include

Massachusetts-based Analog Devices ( ADI ), Japan's Sony ( SONY )

and Toshiba. German chipmaker Infineon and a

subsidiary of Taiwan's Foxsemicon Integrated Technology

have also announced new projects.

Investments in manufacturing printed circuit board, an

important component for electrical devices that are used in

everything from smartphones to EVs, have also risen rapidly

since 2023 in Thailand, according to the BOI.

"The main reason is the trade war," Narit said, "One of the

reasons that investors choose Thailand as their location is our

position as a neutral country."

Thailand faces much competition from Malaysia, which

accounts for 13% of global chip testing and packaging and is

targeting over $100 billion in investment for the sector.

($1 = 34.0300 baht)