Thailand’s Board of Investment (BOI) on Monday approved a landmark 65 billion baht ($2.08 billion) investment by a joint venture led by Taiwan’s Zhen Ding Technology (ZDT), the world’s largest printed circuit board (PCB) manufacturer, in partnership with Thailand’s Saha Pattana Interholding.
The approval highlights Thailand’s strategic push to attract large-scale foreign direct investment (FDI) to jumpstart its economy and strengthen its position in the global electronics supply chain.
The project is expected to create approximately 5,600 jobs locally, offering a significant boost to employment and skills development in Thailand’s industrial sector.
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Thailand, Southeast Asia’s second-largest economy, has faced sluggish growth in recent years. The Bank of Thailand projects GDP growth of 2.2% in 2025, below the country’s long-term potential and below regional peers. This investment is part of Bangkok’s broader strategy to stimulate economic momentum through high-value manufacturing and technology-driven sectors rather than relying solely on traditional industries.
Zhen Ding Technology operates major production facilities in Taiwan and mainland China, and this marks its second Thai investment after the company began production of an initial project in September last year. With the new expansion, ZDT plans to produce advanced PCBs for a wide range of applications, including consumer electronics, telecommunications equipment, medical devices, and energy infrastructure.
Given the rapid growth of sectors such as 5G, artificial intelligence, and electric vehicles, demand for high-quality PCBs remains strong, positioning Thailand as an attractive alternative manufacturing hub.
“This investment will further enhance Thailand’s advanced electronics supply chain,” said BOI investment chief Narit Therdsteerasukdi.
He emphasized the government’s goal of fostering a competitive high-tech manufacturing ecosystem that can integrate Thai firms into global value chains and promote technology transfer.
Analysts note that Thailand’s appeal is reinforced by its skilled workforce, strategic location in Southeast Asia, and favorable investment incentives. The country’s industrial estates and special economic zones offer tax breaks, streamlined permitting, and access to regional markets, attracting electronics companies looking to diversify production away from China amid rising costs and geopolitical uncertainties.
The investment also signals the government’s broader ambition under its Thailand 4.0 strategy, which focuses on upgrading the economy through innovation, high-tech industries, and digital infrastructure. By luring top-tier international players like ZDT, Thailand aims to accelerate industrial modernization while building domestic capacity in cutting-edge sectors.
Regional analysts say the move could have spillover effects for Thailand’s local supply chain, encouraging growth of domestic component suppliers, logistics services, and related technology providers. It also strengthens Thailand’s position in the global electronics race, competing with Vietnam, Malaysia, and Indonesia as Southeast Asia seeks to capture a larger share of the high-value manufacturing market.
Beyond economic growth, the project underscores the broader geopolitical trends reshaping supply chains. Taiwanese electronics firms are increasingly diversifying production outside China due to trade tensions, rising labor costs, and supply chain risks. Thailand, with its regulatory stability, strategic port access, and relatively lower costs, stands to gain as companies seek to mitigate risk while maintaining proximity to key markets in Asia and beyond.
The BOI’s approval comes as Thailand works to restore investor confidence after years of uneven FDI flows. Large, high-tech projects like ZDT’s PCB venture are seen as critical anchors that can attract follow-on investments, deepen local expertise, and boost exports. For policymakers, the deal is not only about immediate economic impact—through job creation and construction—but also about long-term positioning of Thailand as a hub for advanced electronics, contributing to sustainable economic growth and higher-value employment opportunities.
With global electronics demand projected to remain robust, and supply chains continuing to diversify away from China, analysts note that Thailand’s ability to attract marquee international investments like Zhen Ding’s PCB expansion may become a key factor in determining its regional competitiveness in the coming decade.