Thailand is seeking to attract about $80 billion in investments by 2050 as part of an effort to expand its capabilities from chip assembly to chip design and manufacturing.

The National Semiconductor and Advanced Electronics Policy Board on Thursday approved the country's first national strategy for the semiconductor and advanced electronics industry.

The goal is to develop an integrated domestic ecosystem spanning from chip research and design to front-end manufacturing, the Board of Investment said.

Plans include strengthening its assembly and testing base, scaling advanced packaging capabilities and laying the foundation for front-end wafer production by 2030, while attracting investors in upstream activities such as advanced-technology manufacturing by 2040. The country also aims to establish a complete domestic supply chain by 2050.

The strategy is targeting about $150 billion in annual industry revenue by 2050, and the creation of over 230,000 new jobs under the 'Made in Thailand' chip initiative.

"It gives investors a clear view of our technology priorities, infrastructure commitments and workforce-development plan through 2050," said Ekniti Nitithanprapas, Thailand's Deputy Prime Minister and Finance Minister, who chairs the board.

Thailand is benefiting from the global artificial-intelligence investment boom, driven by surging demand for electronics used in computing and data-center infrastructure.

In July, the country approved nearly $2 billion in investment plans across projects including artificial intelligence.