# Thailand’s BOI Approves Foxsemicon’s 10.5 Billion Baht Investment in the Semiconductor Industry

- Link: https://www.thailand-business-news.com/investment/180571-thailands-boi-approves-foxsemicons-10-5-billion-baht-investment-in-the-semiconductor-industry
- Published: 2024-12-12T16:58:55+07:00
- Author: Boris Sullivan

The Thailand Board of Investment (BOI) has approved a 10.5 billion baht investment
by a unit of Foxsemicon Integrated Technology Inc. to build a factory producing 
high-precision machinery parts and equipment for the semiconductor industry.

## Key Points

 * The Thailand Board of Investment has approved a 10.5 billion baht investment 
   by a unit of Foxsemicon Integrated Technology Inc. to build a factory producing
   high-precision machinery parts for the semiconductor industry, contributing to
   Thailand’s National Semiconductor Strategy.
 * The new manufacturing facilities will be located in Thailand’s hi-tech hub, the
   Eastern Economic Corridor, and will employ over 1,400 qualified Thai workers,
   showcasing a significant investment in the country’s skilled workforce.
 * Applications for investment promotion in Thailand have increased significantly,
   with the electrical appliances and electronics sector leading in both project
   numbers and combined value, indicating a growing interest in Thailand’s business
   environment.

The investment comes as Thailand is drafting its National Semiconductor Strategy
and aims to attract foreign direct investments worth 500 billion baht by 2029. The
factory will be located in the Eastern Economic Corridor and is expected to employ
over 1,400 Thai workers, with an annual export value of more than 6 billion baht.
The investment reflects a significant increase in foreign investment in Thailand’s
target sectors, particularly in the electrical appliances and electronics industry.

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The government is providing various incentives to encourage such investments, including
tax breaks and streamlined regulatory processes. This strategic move is part of 
Thailand’s broader plan to become a leading hub for semiconductor manufacturing 
in Southeast Asia. The Eastern Economic Corridor, where the factory will be situated,
offers advanced infrastructure and connectivity, making it an attractive location
for high-tech industries. Additionally, this development is expected to boost local
economies and create opportunities for skill development among the workforce. The
influx of foreign capital and technology will likely enhance Thailand’s competitiveness
in the global market, positioning it as a key player in the semiconductor supply
chain.

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