Board of Investment okays Haier’s B13.5bn factory project

The Board of Investment (BoI) continues to promote the smart electronics industry after approving a 13.5-billion-baht investment project of China’s Haier Smart Home Co, involving the construction of a new factory in Chon Buri for the production and sale of smart air conditioners domestically and overseas.
The investment, which includes the cost of land and working capital, was made through Haier’s Singapore unit.
“This project demonstrates Thailand’s attractiveness as a hub for the manufacturing of smart electrical appliances and smart electronics by global companies,” said Narit Therdsteerasukdi, secretary-general of the BoI.
“This factory will sell around 85% of the output in overseas markets, meaning it will increase Thai exports by an estimated 32 billion baht every year.”
The plant, to be operated by Haier Appliance Manufacturer (Thailand), a local unit of Haier, will employ 3,250 people and have an annual production capacity of roughly 3 million smart air conditioner units, and 3 million smart split air conditioner units, he said.
Smart air conditioners feature embedded operating systems and electronic components that can detect and receive information and can be remotely controlled via mobile phones.
From January 2023 to June 2024, the BoI approved smart electronics manufacturing projects worth a combined 82.2 billion baht, proposed by companies including Samsung, Midea, Inventec and Sony. During the same 18-month period, an additional 16.4 billion baht worth of projects were approved for the manufacturing of other types of electrical appliances and parts.
The government is keen on promoting investments in smart electronics, which is one of 12 targeted S-curve industries being developed in the Eastern Economic Corridor, covering parts of Chon Buri, Rayong and Chachoengsao.
Between January and June this year, investments from China represented Thailand’s second biggest source of foreign direct investment (FDI) in terms of value, with 321 projects applications worth a combined 72.9 billion baht, led by investments in the automotive industry, and the appliance and electronics sector.
Singapore was the biggest source of FDI during the same period.
In 2023, China ranked first in terms of FDI value with 416 projects worth a total of 158 billion baht.