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Tesco Lotus to Build More Superstores, Says Thais Benefit.
Byline: Srisamorn Phoosuphanusorn
Nov. 5--Tesco Lotus insists that it is committed to further business expansion in Thailand, with an overall policy to split new investment equally between Bangkok and rural provinces.
David Reid, deputy chairman of UK-based Tesco Plc, said the firm's global strategy has always been to open new branches where consumer demand existed.
Tesco Lotus planned to invest four billion baht next year to open six or seven new branches.The company now has 32 branches in Thailand and expects to add a branch in Pattaya by the end of the year.
But the rapid growth of Tesco Lotus has angered small retailers, prompting the government to draft new zoning regulations on expansion and operating conditions of retail superstores nationwide.
Mr Reid said Tesco would respect government policy on branch expansion, adding that Tesco Lotus was the first major superstore to follow state requests to limit operating hours.
Tesco Lotus, which had previously operated two branches around the clock, had now changed its operating hours to 6 am to midnight in response to government requests.
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