TMG makes move into Lao duty-free

Three way partnership shops to focus on vacationers

Thai Medical Glove Co (TMG), a producer of rubber gloves for medical personnel, is forming a three way partnership to develop a US$500 million duty-free enterprise in Laos to serve overseas vacationers.

New duty-free retailers will develop into a magnet for vacationers, particularly Chinese language buyers travelling from southern China through the high-speed practice system, mentioned Boon Vanasin, founder and chairman of TMG.

TMG is within the means of organising the three way partnership after it not too long ago signed a cooperation settlement with Laos-based Dao-Heuang Group (DHG), which runs 17 duty-free retailers in Laos.

TMG is to make a 70% funding within the new agency, with the rest funded by DHG.

“We plan to spend the $500 million funding price range renovating present duty-free retailers or creating new ones in 2022,” mentioned Dr Boon.

Within the first section, TMG and DHG plan to collectively run 4 duty-free retailers: at World Commerce Centre, a shopping center within the Lao capital of Vientiane; in an space close to the Thai-Lao Friendship Bridge linking Nong Khai and Vientiane; at a dry port close to Tha Na Lang railway station; and in Boten, a city in Luang Namtha province.

In accordance with TMG, the dry port close to Tha Na Lang railway station is designed to assist logistics and transport companies in an space overlaying 1,800 rai.

“These areas are related with the Thai and Chinese language borders, in order that they have the potential to attract vacationers, particularly these from China, which is predicted to reopen its borders to guests quickly,” mentioned Dr Boon.

TMG and DHG plan to develop a duty-free store in Boten, which is near Yunnan province in southwestern China, into a big duty-free store providing merchandise from luxurious manufacturers.

Leuang Litdang, president of DHG, mentioned Laos has numerous potential for funding as a result of it borders 5 international locations: China, Myanmar, Thailand, Vietnam and Cambodia.

“DHG has joined arms with TMG as a result of we wish to kind a powerful enterprise partnership to extend competitiveness,” she mentioned.

TMG has been granted a concession by the Lao authorities to run a duty-free enterprise within the nation for a 50-year interval.

This is step one in TMG’s funding in Laos. Sooner or later, the corporate plans to put money into the event of three hospitals in Vientiane, Pak Se and an space close to the Thai-Lao Friendship Bridge, mentioned Kabil Sompongchiyakul, managing director of KPP Improvement Co, a TMG consultancy agency.