Tesco remains committed to expansion in Thailand despite no clear sign of an economic recovery.

The grocer – which trades under the Tesco Lotus banner in Thailand –  plans to open five or six hypermarkets and 40 Express outlets in the present financial year.

Tesco Lotus chief executive Steve Hammett said around Bt7bn (£124.7m) will be invested this year, creating up to 4,000 jobs. He said: “We haven’t seen evidence of economic recovery for this year. However, the situation has stopped getting worse – a good sign.”