BoI/local parts showcase

Chatrudee Theparat

Board of Investment (BoI), Thai SUBCON Association, Informa Markets (Thailand), and seven electrical vehicles manufacturers, will organize SUBCOM Thailand 2024 between May 15 and 18, 2024 at Bangkok International Trade & Exhibition Centre (BITEC).

(Center) Narit Therdsteerasukdi 

Narit Therdsteerasukdi, BoI's secretary general, said the agency expects the event to attract 9,000 business matchings among Thai entrepreneurs and global supply chain, leading to get an estimated value of more than 20 billion baht from the purchase.

SUBCON Thailand 2024 has organised as the 18th under the concept “The Global Sourcing Excellence”

“The event has showed the potential of Thailand to become a regional hub of purchasing, global sourcing and supply chain which is the biggest event in Asean,” he said.

The participants can meet manufacturers and buyers of both domestic and global sourcing. They include automotive; electric vehicle; electrical appliances; electronic; machinery; robotics; medical equipment; aircraft maintenance, and defence industry.

“The highlight of the event is business matching among domestic and global parts manufacturers. The agency hopes to have 9,000 business- matching and generate more than 20 billion-baht selling revenue in target.”

He said the special activity is “BoI Symposium: EV Supply Chain” where leaders of the seven EV manufacturers show their vision on EV development, and their plan to provide support and purchasing Thai parts. Seven EV makers in Thailand include BYD, MG, Great Wall Motor, Neta, Changan, GAC Aion and Chery. This activity can create opportunities for Thai parts manufacturers, especially in playing a rising role in the EV global supply chain and encouraging Thailand to become a global EV hub manufacturer.

“The event also features parts that domestic and abroad buyers want to purchase from “Buyers’ Village", as well as an innovation showcase. BoI has seen the potential of domestic parts manufacturers, especially small and medium enterprises. The agency is ready to support Thai SMEs to create business-matching to foreign part s manufacturers which can create opportunities for an investment.”

Kiattisak Jirakajonvong, president of Thai SUBCON Association, said the association is considered as a significant mechanism to help develop Thai parts manufacturing industry for more than 20 years. Currently, there are more than 500 members.

He said parts manufacturers need to upgrade in term of technology and marketing trends. Also, they should transform themselves for the new-s-curve industry.

“The association supports the members to transform their manufacturing to become parts manufacturers of medical equipment; aircraft maintenance, defence, rail and automation and the latest is EV. Having a commitment to assist our members to produce the EV parts is a big challenge.”