Thai manufacturing sector enjoying a resurgence within ASEAN
Thailand's manufacturing sector is experiencing a resurgence, positioning itself as a key player in the ASEAN region, according to Board of Investment (BOI) deputy secretary-general Narucha Ruchuphan.
Speaking at a press conference earlier this week, he said Thailand was strategically positioned to become a manufacturing powerhouse in Southeast Asia, citing government support, skilled workforce, and robust infrastructure as key factors.
To solidify Thailand’s position as a leading manufacturing and parts procurement hub in the ASEAN region, the BOI, in partnership with key industry stakeholders, is organising the “MIRA and SUBCON Thailand: The East 2024” event. The event aims to strengthen businesses in the eastern provinces, a region identified as a strategic growth corridor.
Scheduled for September 4-6 at the Nongnooch Pattaya International Convention and Exhibition Centre, the event will showcase Thailand’s subcontracting industry capabilities.
Alongside MIRA, a comprehensive exhibition featuring cutting-edge technologies and solutions, it will offer a platform for industry professionals to network, explore new technologies, and contribute to the region’s economic growth.
The event’s focus extends to all eastern provinces, recognising their pivotal role in the country’s industrial development. By connecting local industrial parts manufacturers with buyers from across the region, the BOI aims to foster new business partnerships and promote technology transfer.
With an expected value of over 3 billion baht in business connections, the event underscores Thailand’s commitment to upgrading its manufacturing capabilities and fostering innovation in its eastern industrial heartland, Narucha said.
The eastern region has emerged as a magnet for investment, accounting for 46% of the total investment value in the first half of 2024. Key growth sectors include electronics, electrical appliances, automotive parts, petrochemicals, and chemicals.
Narucha noted that this third iteration of the event would showcase Thailand's subcontracting potential alongside global manufacturers' latest technologies. The organisers anticipate over 100 large buyers and more than 600 business negotiations, with activities including “Sourcing Day”, providing opportunities for Thai entrepreneurs to enter key manufacturers' supply chains.
Chanin Khaochan, president of the Thai Subcontracting Promotion Association, emphasised the event's role in stimulating business linkages between local industrial parts manufacturers and buyers. With over 400 member companies, the association views this as a crucial opportunity for Thai entrepreneurs to expand partnerships and investments.
Sanchai Numbunnam, general manager of Informa Markets Thailand, expressed confidence that the event would create significant opportunities for the eastern region's industrial sector, supporting Thailand's goal of becoming ASEAN's manufacturing and parts procurement hub.
The event will showcase the latest advancements in maintenance technology and solutions, including artificial intelligence, machine tools, and equipment, as well as leading parts and accessories from across the industrial sector.
