Thai Shopping Centers Association holds first symposium to celebrate 15th anniversary and welcome AEC

• To increase competitiveness and hold first symposium
• To promote Thailand as a regional shopping hub in a bid to attract foreign investors and raise Thailand’s market capitalization
• To reduce energy use in shopping centers

Naris Cheyklin, President of the Thai Shopping Centers Association (TSCA), along with ten members of the Association that are shopping center operators, namely MBK Public Co., Ltd., The Mall Group, Siam Retail Development Co., Ltd., The Platinum Fashion Mall Co., Ltd., K.E. Land Co., Ltd., Seacon Development Public Co., Ltd., Central Pattana Public Co., Ltd., Siam Future Development Public Co., Ltd., Rangsit Plaza Co., Ltd., and Siam Piwat Group Co., Ltd., today held the annual press conference 2013, announcing collaboration among the Association’s members to increase competitiveness in a bid to welcome the commencement of the AEC in 2015. Foreign investment is expected while TSCA also aim to be part of strengthening Thailand’s economy and promoting the country as a regional shopping hub. This year, the Association will hold its first symposium to expand and increase knowledge for shopping center industry. CSR activities will be held and the government is being urged to help promote energy saving policies.

Naris Cheyklin, President of the Thai Shopping Centers Association (TSCA), said: “This year, Thai Shopping Centers Association is celebrating its 15th anniversary. We are going to increase the competitiveness of Thai shopping center operators so that Thailand becomes a regional shopping hub before the commencement of the AEC. Knowledge of technology, law and changing consumer behaviors will be shared. We will focus on sharing information to increase the competitiveness of the Thai market. We will also try to attract foreign operators. Shopping center and retail business will be classified more clearly to welcome the AEC in 2015.

According to our database, there are 74 shopping center (based on TSCA) in Thailand that are officially open. The ratio of the number of department stores to the population is one department store to 900,000 people, whereas Japan had one department store to 43,000 people in 2011. It can be seen that the Thai market has room to expand.”

The investment value is expected to reach 120 billion baht in five years. New domestic and foreign investors are entering the Thai market. TSCA has also urged the government to continually encourage energy saving policies to prevent energy crises in the long term. To promote Thailand as a real shopping haven, assistance relating to tax and law is needed to help shopping center’s competitiveness. CSR activities concerning energy and community assistance will be held continuously.