Thai retail conglomerate Central Group is reducing and pegging the price of more than 3000 essential consumer products, as well as reducing prices at 87 foodcourts by 20 per cent to help citizens impacted by the Covid-19 pandemic.
The move is in response to government-led initiatives to assist national economic recovery in establishing and implementing a broad-ranging social responsibility plan.
Central Group has also committed to measures to assist 74,000 staff across its various business units, pledging to maintain their employment terms and to provide them with Covid-19 insurance.
The firm has also inaugurated new projects this year aimed at stimulating local economies and generating income by donating 90,000sqm of rent-free space to small local traders and growers in 100 shopping malls across 44 provinces; buying produce directly from growers and community enterprises; and promoting product development and local tourism.
The group says its existing social-responsibility project is being rapidly expanded to create occupations by means such as giving knowledge on agriculture and product development, reducing social inequality by supporting the creation of occupations for people with disabilities, and developing communities as tourist attractions. It is also creating a crowdfunding platform for entrepreneurs starting a new business but lacking capital, as well as supporting students, schools, hospitals and research work, with the target of raising more than THB100 million (US$3 million).
Thailand’s Central Group aims to boost health by creating new standards for safe business to prevent the spread of infection – including implementing measures of hygiene and safety in tenants’ stores – and donate medical equipment for staff fighting Covid-19 at 30 hospitals nationwide through the Thai Medical Association.