Paetongtarn forms new industry board
PUBLISHED : 26 Oct 2024 at 04:00
Thailand has set a goal to strengthen its position in the regional semiconductor industry. Efforts are being made to prepare a skilled workforce for surging demands.
The country’s semiconductor industry is gaining pace with the establishment of the National Semiconductor and Advanced Electronics Industry Policy Committee, also known as the National Semiconductor Board, chaired by Prime Minister Paetongtarn Shinawatra.
Ms Paetongtarn signed an order to establish the semiconductor board on Thursday.
The board will set policy directions and goals to develop the country’s semiconductor and advanced electronics industry, devise a road map for investment promotion, skilled workforce and supply chain development, and create an environment conducive to strengthening the industry.
The semiconductor board will also be responsible for screening action plans and projects for the industry’s development submitted by state agencies before presenting them to the cabinet for approval.
It will also be responsible for following up on and assessing those projects to ensure they deliver tangible results.
The board will also consist of Finance Minister Pichai Chunhavajira as deputy chairman and other cabinet ministers as members.
They include the Foreign Affairs Minister, the Minister of Higher Education, Science, Research and Innovation, the Digital Economy and Society Minister, and the Industry Minister.
Other committee members include the secretary-general of the National Economic and Social Development Council, the secretary-general of the Vocational Education Commission and the president of the Federation of Thai Industries.
The secretary-general of the Board of Investment (BOI) will serve as the semiconductor board’s secretary.
Mr Pichai on Friday hailed Ms Paetongtarn’s decision to establish the semiconductor board, saying the initiative will benefit the country’s economic growth as it will help attract foreign investment in the country’s technological development.
The semiconductor board will oversee efforts to mobilise resources to develop a skilled workforce to respond to the growing semiconductor industry, the minister said.
The government will also support investment in the industry through the BOI’s Competitiveness Enhancement Fund, Mr Pichai said. The fund offers promotional privileges for investors, including financial support, an exemption from corporate income tax, and a waiver of tariffs on imported machinery and raw materials.
Mr Pichai said the establishment of the semiconductor board represents a significant starting point for the industry’s development, with a clear strategy to improve its semiconductor supply chain.
With the prime minister as the board’s chairperson, the government is fully committed to strengthening Thailand’s position as a leader in the regional semiconductor and advanced electronics industry, Mr Pichai said.
He said the board will ensure consistency, cohesion and speed in implementing policies and measures to achieve the goals.
Semiconductors are the key components of modern electronics, including microprocessors, memory chips, computers, smartphones and electric vehicles, as well as artificial intelligence, he said.