Cabinet endorses Retail Business Act

Commerce Minister Krirk-krai Jirapaet said the draft would be submitted for the NLA reading on October 22 as this government wants to enforce the law before the end of its term.

 Internal Trade Department Director-General Yanyong Phuangrach said that the law is meant to create the fair environment to large and small retailers. The highlight of the law is a large-sized retailer will need to ask for the ministry's license from the ministry.

 A large-sized retailer is defined by its space and sales. It must operate with at least 1,000 square metres or more. Its sale revenue must be Bt1 billion or more. Such retailers also encompasses those whose consolidated sales, from different branches, exceed Bt1 billion.

 The retail business will also be governed by a committee chaired by the Commerce Minister.

 It is reported that the Cabinet will today consider the planned construction of the Red Line subway which will require an investment of Bt59 billion for the 26-km length.

- The Nation