BOI approves investment privileges for Garmin to invest 3bn baht in Thailand
BOI grants investment privileges to Garmin for a 3bn baht factory in Chonburi, set to produce smart gadgets and GPS devices starting in 2026.
The Board of Investment (BOI) has approved investment privileges for American multinational technology company Garmin, renowned for its fitness tracker products and GPS navigation gadgets, to invest over 3 billion baht in Chonburi.
BOI Secretary-General Narit Therdsteerasukdi said a subcommittee in charge of reviewing new investment projects has approved the project for Garmin Chonburi (Thailand) Ltd. to open a factory in Chonburi to produce smart electronic gadgets, including GPS smartwatches and smart GPS navigators for vehicles and marine navigation under the Garmin brand.
Narit said the factory will be the first Garmin factory in ASEAN and is expected to start production in 2026 for both local sales and exports.
The opening of the Garmin factory reaffirms Thailand’s image as a manufacturing hub for smart electronic devices in ASEAN, Narit added.
He explained that the factory would use a modern assembly line to produce smart electronic devices that incorporate advanced technologies, such as sensors for measuring heart rates and blood oxygen levels in real time, as well as motion trackers for distance measuring.
The Garmin products to be made in Thailand will also use AI technology to analyse health data of the individuals who wear its smartwatches and will provide real-time weather and tide information for boat navigators to plan their trips accordingly, Narit said.
He added that the Garmin products will also have connectivity features to link wirelessly to smartphones and computers.
Garmin Ltd. is an American multinational technology company known for its broad range of GPS-enabled products and wearable technology.
It is credited with launching one of the first handheld GPS navigation devices in 1991 and pioneering the first GPS-enabled running watch, the Forerunner 201, in 2003.
Among its many products, fitness is a major focus, featuring a wide array of smartwatches and trackers, including the Forerunner series (for runners and triathletes), Venu series (health and fitness smartwatches), vívoactive series, and cycling computers like the Edge.
Last year, Garmin generated over US$6 billion from its product sales, an increase of 20% from the previous year.
