Thailand has approved a major investment by Western Digital, one of the world’s leading data storage companies, to expand its hard disk drive production in the country. The project, worth 23.5 billion baht (around £530 million), is set to enhance Thailand’s status as a global manufacturing hub for technology.
The expansion, announced by Thailand’s Board of Investment (BOI) on Monday, aims to capitalise on the increasing demand for cloud technology and data centres. The investment is expected to significantly boost the Thai economy, potentially adding around 200 billion baht in export value each year. Moreover, the project will create 10,000 new jobs, strengthening the local workforce and economy.
Currently, Western Digital’s operations in Thailand employ approximately 28,000 people. The country itself is a critical player in the global tech landscape, producing about 80% of the world’s hard disks. Over the last decade, Thailand has attracted 82.6 billion baht in investments into its hard disk industry. Seagate, another major player, expanded its presence last year with a 16 billion baht investment.
Looking forward, Thailand remains bullish on its investment prospects. Officials have projected that investment applications could reach 800 billion baht by 2024, underscoring the country’s appeal as a destination for tech manufacturing.
Western Digital’s latest investment is not just a win for Thailand but also a reflection of the broader trend of companies expanding their capabilities to meet the ever-growing global demand for data storage solutions.