Compeq, the world's fifth largest printed circuit board (PCB) manufacturer, has spent 10.4 billion baht on making Thailand its new key export base to serve growing demand for PCBs in a range of industries from electric vehicles to data centres, says the Board of Investment (BoI).
Compeq (Thailand) Co, which applied for investment incentives from the board in December last year, opened a factory yesterday.
"The firm took only one year to build the factory and install machinery. It will start production this month," said Narit Therdsteerasukdi, secretary-general of the BoI, who presided over the opening ceremony.
The plant, spanning 112 rai of land in Asia Industrial Estate in Samut Prakan, already employs 600 Thai workers. This is set to reach 1,500 next year.
Compeq specialises in making multilayer PCBs, or PCBs with multiple layers of copper circuitry arranged between insulating materials. Each layer is designed to perform different electronic functions.
The company can make PCBs with up to 34 layers that can serve the manufacturing of electronic devices with complex systems such as those in electric cars, smartphones, medical equipment, data centres and satellites.
Compeq plans to export 90% of the PCBs produced at its Thai factory. The value of these exports is estimated at 6.6 billion baht.
Compeq is among a number of PCB companies from China, Taiwan, Hong Kong and Japan which have decided to expand their businesses into Thailand over the past two years.
From 2023 to November this year, foreign PCB manufacturers submitted 107 investment project proposals, worth 173 billion baht in total, to the BoI to apply for investment incentives.
Many of them announced plans to start operations between late this year and 2025, said Mr Narit.
"More PCB investment projects have made Thailand a PCB production hub in Asean," he said.
Along with the growth of the PCB industry, the government is promoting the development of semiconductors in the country.
Earlier this month, the National Semiconductor and Advanced Electronics Policy Committee approved a framework for the development of a skilled workforce to prepare for a new wave of foreign direct investment in this sector, which could bring in at least 500 billion baht by 2029.
