BOI approves ZDT expansion: world’s top PCB maker to invest THB65bn more in Thailand

Narit Therdsteerasukdi, secretary-general of the Board of Investment (BOI), said the BOI board has approved investment promotion for an expansion by Peng Shen Technology (Thailand) Co., Ltd., a joint venture between Zhen Ding Technology (ZDT)—the world’s No.1 printed circuit board (PCB) manufacturer with production bases in China and Taiwan—and Saha Pathana Inter-Holding Plc.

Narit said ZDT aims to make Thailand a manufacturing base for highly complex PCBs, including multilayer PCBs, flexible PCBs, substrate-like PCBs and high-density interconnect (HDI) PCBs, for modern electronics requiring high processing performance, such as smartphones, AI servers and advanced electronic devices for export worldwide. The factory is located in Prachin Buri.

A total of four projects have received BOI promotion. The first project was approved in 2023 and began production in September 2025. The company then submitted applications for three additional projects to expand investment, which have now been approved. Combined, the four projects represent total investment of more than THB65 billion, and are expected to create jobs for over 5,600 Thai workers.

ZDT has been ranked the world’s largest PCB maker continuously since 2017 and is a key player in the global electronics supply chain. It posts total revenue of more than THB180 billion per year and employs over 48,000 people worldwide. ZDT is a leader in R&D, design and production across all types of advanced PCBs, supplying critical components for 5G smartphones, data centres, AI, electric vehicles and advanced electronics. Narit said the Thailand operation is the company’s first and only manufacturing base outside China and Taiwan.

Beyond establishing production in Thailand, Peng Shen Technology (Thailand) has placed emphasis on human resource development. The joint venture has signed cooperation agreements with leading Thai educational institutions—King Mongkut’s Institute of Technology Ladkrabang, King Mongkut’s University of Technology North Bangkok, Kasetsart University, the National Institute of Development Administration (NIDA), and Sirindhorn International Institute of Technology (SIIT), Thammasat University—to jointly develop science and engineering curricula and conduct research related to the PCB industry and advanced electronics. The goal is to support high-quality workforce development and strengthen Thailand’s semiconductor and electronics capabilities over the long term.

“The decision by the world’s No.1 PCB maker, ZDT, to establish a major base in Thailand, with investment of more than THB65 billion and plans for continued expansion, underscores Thailand’s potential to become a new hub for the PCB industry,” Narit said. He added that a wave of PCB investment over the past three years has helped push Thailand to become ASEAN’s No.1 PCB production base and among the world’s top five, while also making Thailand’s electronics supply chain more complete. High-tech investment of this kind, he said, will create quality jobs, build Thai skills and know-how, and strengthen Thailand’s position as it moves towards advanced technologies—particularly the development of the country’s semiconductor industry in the next phase.

Narit said that from 2023 to November 2025, Thailand received BOI promotion applications in the PCB-related segment—covering PCB production, PCBA and key PCB raw materials—totalling 214 projects with combined investment of more than THB300 billion. Major PCB factories have begun gradually starting operations from 2025 onwards.