Bangkok — Thailand has approved a 65 billion baht (about $2.1 billion) investment to build a printed circuit board (PCB) manufacturing plant. This move is a major step for the Southeast Asian nation to solidify its position as a regional electronics manufacturing hub amid sluggish economic growth.

The Thailand Board of Investment (TBI) said on Monday that the project is led by a joint venture between Taiwan's ZDT, the world's largest PCB manufacturer, and Thailand's Saha Pattana Interholding. The plant is ZDT's second major project in Thailand, following its first factory approved three years ago and which began operations last September. It is expected to create approximately 5,600 local jobs.The Board noted that "Thailand needs foreign direct investment to stimulate its sluggish economy," and highlighted the government's efforts to attract capital. The Bank of Thailand projected this month that the Thai economy would achieve its 2.2% growth target.

PCBs are essential to almost all electronic devices, from consumer electronics to telecommunications infrastructure. Narit Tedestirasukdi, Secretary General of the TBI, said the new investment aims to "further enhance Thailand's advanced electronics supply chain."

The approval of this project signifies Thailand's ongoing efforts to gain a larger share of the high-end electronics manufacturing sector. Leveraging its mature automotive and home appliance industries, Thailand will move up the technology value chain as global companies relocate production from China.Editor/Cao Tianyi