BANGKOK – Operators of a major Thai store group have proposed a six-month “VAT Free Zone†marketing strategy to shore up investor confidence once the protest by Red Shirts – now lasting two months – is over.
According to a local news report, Siam Phiwat Group CEO, Chadatip Chutrakul, which manages Siam Paragon, Siam Centre and Siam Discovery, said it would take up to seven months to regain consumer confidence following the protests.
The three department stores say they will resume normal operations 24 hours after the demonstrations end.
The company is ready to spend heavily to revive consumer confidence mainly through special promotions and sales.
Around 10,000 employees have been affected since the closure of the three department stores due to the nearby presence of protestors.
The Thai government has told Red Shirt protesters it will begin cutting off supplies to their Bangkok camps if they do not pack up and go home immediately.
The political group began its protest on March 14 and shows no signs of going anywhere despite promises of fresh elections.
