Boots will more than double its store estate in Thailand over the next three years, totalling more than 300 shops.
Boots, which last month revealed a major merger with US drugstore giant Walgreens, currently has 200 stores in Thailand.
Boots announced the investment at the British Business Embassy Retail Food and Drink summit.The summit is one of 18 organised by UK Trade & Investment (UKTI) across the Olympic and Paralympic Games and is designed to showcase British businesses.
Tesco also announced plans at the summit to open three “state-of-the art” distribution centres in Thailand through its Tesco Lotus business. The grocer has 1,000 stores in the country and expects the investment to bolster its supply chain and provide at least 9,000 extra jobs.
Business secretary Vince Cable said: “Retailers employ almost 3 million people, and food and drink is our single largest manufacturing sector – worth approximately £25bn a year.
“The Government is committed to working closely with firms in these sectors to stimulate growth and encourage new investment opportunities.”
British Retail Consortium director general Stephen Robertson welcomed the Government’s support for the UK retail industry overseas.
He added: “We’re a significant exporter with overseas customers visiting UK retailers’ websites, and flagship retailers driving growth through international expansion.
“David Cameron is right that all branches of the Government should work together to promote UK retail investment. We’ll co-operate closely to develop the proposed international retail strategy but the ultimate test will be how much it really delivers progress in opening up markets for British retailers.”
UKTI will present a new retail strategy next month to identify markets with the biggest opportunities for international development and expansion. It aims to focus on the UK’s “world-class” multichannel offer.