Bangkok: Ekniti, Secretary-General of the Board of Investment (BOI), is actively pursuing investment in Thailand from the United States by Phononic, GlobalFoundries, and Teradyne, three world-class companies in the semiconductor and automation industries. Mr. Narut Teodsathirasak, Secretary-General of the Board of Investment (BOI), revealed that Deputy Prime Minister and Minister of Finance, Mr. Ekniti Nitithanprapas, led a Thai delegation to Washington D.C., USA, from April 13-17, 2026, to attend the IMF-World Bank Spring Meetings 2026. The visit aimed to expand cooperation with partner countries and leading economic organizations, and to negotiate investment attraction for targeted companies in high-tech industries, particularly the rapidly growing semiconductor industry. This industry is experiencing high demand to meet the demands of AI technology and is projected to surpass US$1 trillion globally by the end of 2026, four years faster than the Semiconductor Association's (SAU) forecast. It is considered a new-generation industry where various countries are vying for investment. The visit aims to enhance competitiveness, technological security, create added value, and further develop other key national industries.
According to Thai News Agency, the United States is considered the world's semiconductor industry hub, holding the heart of the technology and accounting for more than half of the global chip market revenue. During this visit to the US, the Deputy Prime Minister and the Secretary-General of the BOI actively discussed investment plans with three leading semiconductor companies to build confidence and invite them to expand investment in Thailand, particularly in upstream chip production, as well as to foster cooperation in developing Thai human resources and entrepreneurs.
The first company is Phononic, a manufacturer of cooling chips. This high-precision, energy-efficient technology plays a crucial role in today's digital industry, as heat has become a major limitation for advanced computing systems, especially AI technology. Phononic has chosen Thailand as its primary production base through joint ventures with three Thai companies, including a Thai national. Over the past 18 months, they have invested over 3 billion baht and have been selected as an official component supplier for NVIDIA's computing systems. They are currently preparing to relocate their upstream semiconductor materials production from the US to Thailand by 2027, making Thailand a fully integrated production hub from upstream materials to finished products. Furthermore, there is a high probability that the company will bring its upstream research and development activities to Thailand in the near future.
GlobalFoundries, the world's fifth-largest chip manufacturer, specializes in the production of specialty chips for applications such as wireless communications, automotive electronics and home appliances, power management systems, and optical data connectivity for AI and data centers. The company views Thailand as well-positioned for several advantages, including its role as a base for industries requiring large volumes of chips, such as electric vehicles, electronics, and data centers. The Deputy Prime Minister invited the company to consider investing in its next upstream chip manufacturing plant (wafer fabrication) in Thailand, in addition to its existing plants in the United States, Germany, and Singapore.
Teradyne, the world's number one manufacturer of automated semiconductor testing equipment (ATEs) and a leader in automation and robotics, holds over 50% of the advanced processor testing market share. Its major clients include Intel, Qualcomm, Texas Instruments, ADI, IBM, and Samsung. Currently, it has regional offices and customer service centers in Thailand and plans to further contract with and utilize Thai manufacturers and components.
During the discussions, semiconductor industry leaders reflected on Thailand's strengths in several dimensions, including the quality of Thai personnel and the long-established electronics supply chain, robust downstream industries, clean energy potential, current political stability, and the excellent services and facilitation provided by the Board of Investment (BOI). Furthermore, investors expressed interest and offered suggestions for developing the Thai capital market as a fundraising channel for future investment expansion. The Deputy Prime Minister affirmed the readiness of the financial system with high liquidity and expressed willingness to support leading technology companies in using Thailand as a base for future fundraising and business expansion.
In addition to meetings with individual companies, the delegation also held discussions with the Semiconductor Industry Association (SEMI), which connects manufacturers throughout the chip industry supply chain. With over 4,000 member companies worldwide, SEMI plays a crucial role in driving policy and setting technical standards, and organizes SEMICON, the largest semiconductor industry trade show, in numerous countries globally. The Board of Investment (BOI) joined SEMI in March, and this meeting focused on exploring avenues for collaboration to leverage SEMI's network for accessing global semiconductor companies, as well as discussing future SEMICON events in Thailand to enhance Thailand's role on the global stage.
In addition, the delegation held discussions with the US Chamber of Commerce (USCC), exchanging views with executives from leading companies such as Dow Chemical, Chevron, Netflix, PepsiCo, Visa, and IBM, all of which have operations in Thailand. These discussions had significant policy implications. The US private sector affirmed that Thailand is not merely a production base for exports back to the US, but serves as a regional business hub, reflecting Thailand's strategic importance in the value chains of American companies in Asia. The Deputy Prime Minister presented the new government's economic reform agenda, which prioritizes removing investment barriers, developing a digital customs system, and developing human resource skills in collaboration with the private sector through Board of Investment (BOI) measures.
Overall, investment from the United States in Thailand continues to grow steadily. Over the past five years (2021-2025), US investors submitted applications for investment promotion for a total of 232 projects, valued at over 220.3 billion baht. The majority of these projects are in the electronics and semiconductor, digital, food processing, and biotechnology industries. Specifically for 2025, there are 60 projects totaling 32.774 billion baht, including key projects from leading companies such as Lumentum, Microchip Technologies, and Fabrinet. This reflects the confidence of US investors in Thailand's potential as a regional hub for high-tech manufacturing.