The Thai government has endorsed a new law aimed at reigning in the expansion of foreign retail giants following an outcry by local shop owners. The new law calls for local governments to assess and approve any proposed new branches of supermarket chains in their province. In addition, a new central body called the Retail and Wholesale Supervision Committee would also be set up to regulate the retail business around the country. Foreign-owned supermarket chains including Tesco and Carrefour complain that the new law, if enacted, would ultimately hurt the consumer by limiting choice and hindering competition. The government also said it is now planning to toughen its enforcement of existing zoning laws to slow the expansion of foreign retailers.
AFP