Thailand's ruling military council has warned Tesco and other major retailers that it intends restrict their expansion plans. Thai and foreign retailers met the military council yesterday to discuss a "voluntary" agreement to suspend expansion plans, which were drawn up by Thailand's commerce ministry before this month's coup. The meeting is understood to have ended without agreement.

Lt-Gen Palangkura Klaharn, spokesman for the Council for Democratic Reform Under Constitutional Monarchy, said the council was considering drafting a law to regulate the retail sector. Thailand is Tesco's third largest market in the world with the 200-strong chain generating almost £1bn of sales a year. The retailer had planned to almost double in size this year opening 170 new stores.

NamNews - Wednesday 27th September 2006

 

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