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In an ambitious move, Thailand is setting its sights on becoming a powerhouse in the regional semiconductor industry. Recognizing the surge in demand, the country is aligning its resources and people to form a robust, skilled workforce to meet this challenge head-on. At the heart of this effort is the newly established National Semiconductor and Advanced Electronics Industry Policy Committee, fondly referred to as the National Semiconductor Board, which is led by none other than the Prime Minister, Paetongtarn Shinawatra.
The creation of this board, initiated by Ms. Paetongtarn with an authoritative signature last Thursday, marks a pivotal step towards crafting a thriving semiconductor ecosystem in Thailand. This dynamic board is tasked with setting strategic policies and goals to foster growth in the semiconductor and advanced electronics sectors. Moreover, these public servants are responsible for designing a roadmap meant to boost investment allure, nurture the talent pool, expand the supply chain, and, most importantly, cultivate an environment ripe for industrial strengthening.
Behind the scenes, the board also zeroes in on evaluating and vetting action plans and proposals directed at industrial development from state agencies. These initiatives need cabinet approval, ensuring a streamlined approach to bringing these projects to life. A critical facet of their mission is following through on projects and assessing outcomes, all aimed at laying down tangible deliverables.
Flanking Prime Minister Paetongtarn is Finance Minister Pichai Chunhavajira, serving diligently as the deputy chair, along with a constellation of other illustrious cabinet members, including the Foreign Affairs Minister, the Minister of Higher Education, Science, Research and Innovation, the Digital Economy and Society Minister, and the Industry Minister. Rounding out this think tank are prominent figures such as the secretary-general of the National Economic and Social Development Council and the president of the Federation of Thai Industries. At the helm as secretary, the Board of Investment’s secretary-general takes on a pivotal role.
Minister Pichai was quick to praise Ms. Paetongtarn’s visionary board initiative, highlighting its potential to supercharge Thailand’s economy by acting as a magnet for foreign investments in technology. Under the board’s keen oversight, initiatives to channel resources towards bolstering the semiconductor workforce are skyrocketing. These efforts are complemented by generous support from the Board of Investment’s Competitiveness Enhancement Fund. The fund’s enticing offerings include financial perks, tax exemptions, and tariff waivers for imported machinery and raw materials, offering investors a bevy of incentives.
The birth of the semiconductor board heralds a transformative beginning for the industry, mapping out a course for a streamlined and invigorated semiconductor supply chain. With Prime Minister Paetongtarn at the helm, the Thai government unequivocally demonstrates its unwavering commitment to elevating Thailand to the forefront of the regional semiconductor and advanced electronics spheres. Mr. Pichai affirms that the board is steadfast in ensuring consistency, cohesion, and velocity in the execution of policies to meet their ambitious goals.
Why does this matter? Well, semiconductors are the unsung heroes of today’s cutting-edge electronics: from the brains of microprocessors and memory chips powering computers, smartphones, and electric vehicles to the frontier of artificial intelligence, these tiny warriors keep our digital world throbbing.
I find it exciting that Thailand is pushing into the semiconductor industry. It’ll boost the economy for sure!
But can Thailand really compete with giants like Taiwan or South Korea?
While it’ll be tough, with the right investments and a skilled workforce, it’s not impossible.
Don’t forget about the political instability. It might scare off potential investors.
The real issue is whether they can truly create a skilled workforce fast enough to meet global standards.
This feels like a desperate move by the government. I have doubts about its success.
Thailand should focus on its strengths like tourism and agriculture, not gamble with unproven grounds.
Diversifying is important, Tommy. Relying on just a few sectors can be risky too.
I’m all in for investing in Thailand if they are offering those tax exemptions and tariff waivers.
Those incentives might not last forever. I’d be cautious before jumping in.
Paetongtarn Shinawatra should be applauded for this move. It’s bold and visionary.
Visionary? More like wishful thinking. Sounds like propaganda to me.
Every visionary step starts with hope and a plan. You can’t have progress without them.
As someone in the tech industry, I find this to be a savvy move. Southeast Asia needs more semiconductor players.
That’s true, but creating high-end chips isn’t just about building factories; it’s a long-term skill development game.
Pichai seems overly confident. I’d like to see the results first before praising the board.
A strong local supply chain in semiconductors could save Thailand billions in imports.
Reducing import dependency is always good, but let’s not forget about potential quality issues with local production.
I think the environmental impact of expanding semiconductor factories is being overlooked.
Everyone is overlooking the geopolitical benefits of having a strong tech industry presence.
This is good news for employment, but whether these jobs will offer decent wages is another question.
Isn’t it ironic? A country with a dictatorship-like regime investing in semiconductors for advanced electronic industry.
Many countries with strong tech industries have less-than-perfect governments.
True, but it raises concerns about who will benefit the most from this initiative.
How about using these funds for improving education and healthcare? That’s what really matters!
Economic growth via technology can indirectly improve these sectors by increasing government revenues.
If Thailand can become a regional hub, it might inspire other ASEAN countries to follow suit.
The tech gap between countries is growing. Thailand making efforts to lessen that gap is commendable.