Thailand has become ASEAN’s leading manufacturing base for printed circuit boards (PCBs), supported by more than THB200 billion in investment applications since 2022. The surge reflects strong global demand for artificial intelligence, data centres and advanced electronics. Officials say the country is now targeting a place among the world’s top five PCB manufacturing centres.

Get today's headlines by email

Data from the Thailand Board of Investment (BOI) shows that between 2022 and June 2025, more than 180 PCB projects applied for investment promotion, with a combined value exceeding THB200 billion. This trend has been driven by production relocation and sustained foreign investor confidence in Thailand as a strategic regional base. In the first nine months of 2025 alone, the electrical appliances and electronics sector recorded 382 investment promotion applications worth more than THB180 billion.

The sector includes PCBs, hard disk drives, electronic parts, battery cells and smart appliances, highlighting growth across the industrial value chain. Thailand’s strengths include stable and sufficient power supplies, extensive logistics networks linking ports and airports and a skilled workforce able to adapt to advanced manufacturing processes. The country also benefits from an integrated supply chain connected to electric vehicles, semiconductors, AI data centres and medical devices.

Government incentives have supported expansion, including corporate income tax exemptions of up to 13 years and cost-reduction measures for investors. One key cluster is 304 Industrial Park, which hosts more than 14 PCB manufacturers and supply-chain companies. The site spans over 3,200 hectares and operates more than 10 on-site power plants with a combined capacity of 893 megawatts.

The industrial estate also provides water capacity of 344,000 cubic metres per day, supported by reservoirs exceeding 40 million cubic metres. Wastewater treatment capacity reaches 175,800 cubic metres per day, meeting stricter environmental standards. Renewable energy generation from solar and biomass totals more than 555 megawatts, supporting corporate carbon-neutrality targets and ESG commitments.

The Nation reporte that strategically located with free-trade links to Europe, China and ASEAN markets, Thailand is positioning itself as a flexible production base amid global supply chain restructuring. The inflow of more than THB200 billion into the PCB sector is seen as a structural shift rather than a short-term spike. Maintaining policy continuity, upgrading infrastructure and developing high-skilled labour will be key to achieving the country’s long-term ambition over the next decade.

Key Takeaways

• Thailand has attracted more than THB200 billion in PCB investment applications since 2022, making it ASEAN’s top manufacturing base.

• Over 180 PCB projects applied for BOI promotion between 2022 and June 2025, with further strong growth in 2025.

• The government aims to leverage infrastructure, incentives and supply-chain integration to reach the global top five.

Related story

Thai-exports-surge-244-on-AI-electronics-boom

Join the discussion?

Already a member?

Adapted by ASEAN Now Nation 25 Feb 2026

View full article

If this report is accurate, then Thailand topping ASEAN in PCB manufacturing is actually quite a significant achievement.

There’s been a lot of talk about how Vietnam is overtaking Thailand in almost every facit of industry including exports, tech assembly, foreign investment inflows, and so on.

But at least in this case, Thailand appears to be outcompeting Vietnam.

PCBs are core components for everything from EVs to AI hardware and advanced electronics. So, leading ASEAN production in that space suggests Thailand is still competitive in higher-value manufacturing, not just legacy industries!

Thailand may still be the "sick man of ASEAN", but at least in this example it seems to be setting the pace.