A new frontier in tax-free shopping
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Construction is well underway on the Lao Duty Free Mall in Nong Khai, an ambitious Thai-Lao joint venture aimed at tourists
ANTICIPATING the birth of the Asean Economic Community (AEC) at the end of this year, Thai and Lao businesspeople have joined hands to establish the Lao Duty Free Mall in Nong Khai in Thailand’s Northeast.
The tax-free shopping centre will draw Southeast Asians and foreign tourists from further afield with world-renowned brand names and integrated services, with an eye to making the border province “the Shopping Capital of Asean”. Construction is already 70 per cent complete and the mall is expected to open early in the new year.
Sayam Ramasoot announced this week that his firm, Siam International, has entered into an agreement with the BMM Group of Laos, led by Phisith Banyadith. Siam International has for more than 20 years invested in several of the countries belonging to the Association of Southeast Asian Nations and was a pioneer investor in Laos, Sayam said.
“We have seen its continuing economic growth and rising prospects for tourism create opportunities to invest in retail business, especially in the form of a tax-free shopping centre,” he said. “In this joint venture with the BMM Group, one of the leading companies in Laos, we have invested Bt3.5 billion to develop a 200-rai area in the Special Economic Zone near the first Thai-Laos Friendship Bridge in Nong Khai.”
Sayam said the Lao Duty Free Mall will occupy 37,000 square metres and sell a diverse range of products from more than 200 retail outlets, competitively priced and tax-free, including clothing and accessories, food and beverages, beauty and healthcare items, souvenirs and “luxury lifestyle brands”.
The parking area will be able to accommodate more than 300 private cars and tour buses, and other services will cater specifically to visitors from China, Vietnam and other nations.
Attending the press conference where the plans were unveiled were Lao Vice Minister of Finance Bounchom Ubonpaseuth and embassy representatives Kingphokeo Phommahaxay and Souphanh Keokhamphet, along with such Thai business leaders as Somjainuek Engtrakul, Charlotte Donavanik, Marut Buranasetkul, Krisada Lamsam and Pol Gen Pracha Promnok.
Sayam announced that his children, Pronvara, Sakdiphat and Rattanakorn, will serve as the mall’s “brand ambassadors”, spreading the word around the region.
