Press Release

BOI Partners Up to Organize SUBCON Thailand 2024, Attracting 7 EV Companies with an Estimated Trade Value of Over 20 Billion Baht

Thailand Board of Investment (BOI), in collaboration with the Thai Subcontracting Promotion Association (Thai Subcon) and Informa Markets Thailand, is set to host the international industrial parts exhibition "SUBCON Thailand 2024" from May 15-18, 2024, at BITEC, Bangkok. The event will feature a business matching platform, connecting Thai entrepreneurs with global supply chains, showcasing Thailand's potential as the "largest industrial parts procurement and subcontracting hub in ASEAN." The goal is to facilitate over 9,000 business matches, with an expected trade value exceeding 20 billion baht. Additionally, seven leading electric vehicle (EV) companies will be participating, further boosting the event's significance in the industrial and manufacturing sectors.

Mr. Narit Therdsteerasukdi, Secretary General, Thailand Board of Investment (BOI), revealed that the BOI, in partnership with the Thai Subcontracting Promotion Association (Thai Subcon) and Informa Markets Thailand, is set to organize SUBCON Thailand 2024 for the 18th consecutive year. The event will be held under the theme "The Global Sourcing Excellence," highlighting Thailand's potential as the largest industrial parts procurement and subcontracting hub in ASEAN. SUBCON Thailand 2024 will bring together both domestic and international industrial parts manufacturers and buyers in a single venue. It is a key meeting point for sourcing components across various industries, including automotive and electric vehicles, electronics, home appliances, machinery, automation and robotics, medical devices, aircraft maintenance, and defense industries.

BOI recognizes the potential of domestic parts manufacturers, especially Thai SMEs, and is committed to acting as a facilitator to foster business connections between international companies and local parts producers. This will create opportunities for Thai manufacturers to enter the global supply chain,” said Mr. Narit. He further emphasized that SUBCON Thailand is the most comprehensive and largest industrial parts exhibition in ASEAN. Thousands of business negotiations are expected to take place during the event, leading to domestic sourcing of raw materials and components, manufacturing contracts, technology transfers, and joint ventures between Thai and international companies. These efforts will help the Thai parts industry grow, enhance competitiveness, and strengthen the overall Thai supply chain.

The highlight of this year's event is the business matching activity between Thai parts manufacturers and major companies from both domestic and international markets, with a target of 9,000 matches. This is expected to generate business value exceeding 20 billion baht. Additionally, there will be a special event, the "BOI Symposium: EV Supply Chain," where leading electric vehicle (EV) companies will present their vision for EV development, including their procurement plans and support for using locally produced parts. The event will also feature exhibitions of supporting industries from Thailand and the ASEAN region, a "Buyers' Village" showcasing parts needed by domestic and international companies seeking subcontracting partners, an "Innovation Showcase" highlighting new technologies, and seminars designed to provide knowledge and business opportunities for industrial entrepreneurs.

BOI Symposium: EV Supply Chain is a key event where the BOI will bring together seven major EV companies that have invested in Thailand BYD, MG, Great Wall Motor, Neta, Changan, GAC Aion, and Chery to present the direction of the EV industry and their procurement plans for locally sourced parts," said Mr. Narit. He added that the symposium will help create business opportunities for local parts manufacturers, especially Thai SMEs, to integrate into the EV industry's supply chain. This initiative aims to elevate Thailand's status as a global hub for electric vehicle manufacturing in the future.

Mr. Kiattisak Jirakajornwong, President of the Thai Subcontracting Promotion Association (Thai SUBCON), stated that the association has been a key driver in the development of the country's parts manufacturing industry for over 20 years. With a membership base of more than 500 companies, he emphasized that the industry is constantly evolving, and businesses must continually improve themselves whether in production technology or market trends to stay updated with emerging industries. In addition to supporting the production of automotive parts, which remains the main client base for members, the association aims to help its members transition into production within the five New S-Curve industries: medical devices, aviation, defense, rail systems, and automation. The electric vehicle (EV) industry, being a new and challenging sector, is also a key focus for the association. Mr. Kiattisak affirmed that the association's role is to turn the EV sector into a great opportunity for its members, with the support of the BOI.

Mr. Kiattisak emphasized that SUBCON Thailand 2024 will be a crucial platform for Thai entrepreneurs to engage in business negotiations with over seven major electric vehicle (EV) manufacturers that have invested in Thailand. These companies need to source local suppliers within Thailand, providing a significant opportunity for Thai manufacturers to showcase their capabilities and demonstrate their production potential to these buyers. This is a critical step towards becoming producers in the EV industry. Moreover, Thai businesses attending this event will also have the chance to meet and negotiate with buyers from various industries across the globe. "We can confidently say that by participating in SUBCON Thailand, you will undoubtedly achieve outstanding business results," Mr. Kiattisak added.

Mr. Sanchai Noombunnam, Country General Manager - Thailand , Informa Markets Thailand, stated that Informa has continuously worked with all sectors, and SUBCON Thailand event serves as a key regional platform. It offers Thai entrepreneurs, industrial parts manufacturers, suppliers, and other stakeholders in the global parts procurement industry the opportunity to connect and engage in business matching. This is especially relevant for target industries that the government is driving forward, including the electric vehicle (EV) sector. With nearly two decades of experience organizing this event, and being the only one event co-organized by the BOI, Mr. Sanchai is confident that SUBCON Thailand will generate significant economic value and opportunities for the entire supply chain of Thailand's industrial sector in the future.

SUBCON Thailand 2024 will take place alongside INTERMACH 2024, covering over 25,000 square meters and featuring 2,200 leading brands from more than 45 countries. The event will include significant seminar topics, such as the BOI Symposium, which will host seven top global electric vehicle (EV) brands sharing insights on technologies and trends in the use of EV parts. Other topics will include the BCG Model, Carbon Neutral EP.4, the INTERMACH Forum: IAR series, as well as seminars on Green Skills and more than 50 other topics organized in collaboration with various networks. There will also be special exhibition zones to update participants on trends relevant to investment promotion policies and opportunities for entrepreneurs in future industries. This year, the event is expected to attract over 47,000 attendees. Over the past 18 years of collaboration, SUBCON Thailand has become a platform that brings together leading buyers across all manufacturing industries. Additionally, it serves as a venue for continuing and expanding business networks with partners that are new suppliers of quality parts in the industrial sector," Mr. Sanchai concluded.

We invite everyone to join us for the premier international platform for industrial parts procurement and business matching, along with special seminars on supply chain development plans and procurement policies from leading companies in Thailand. There will also be a special technology exhibition zone aimed at strengthening the Thai industry at SUBCON Thailand 2024, held in conjunction with INTERMACH 2024, the exhibition of machinery technology and industrial subcontracting for leading ASEAN industrial parts procurement. The event will take place from May 15-18, 2024, at the BITEC, Bangna, Bangkok.