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Farming Foreign Ban Mirrors Attitude on Land Ownership

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Posted: 15 Aug 2009 | 11:05 am

Despite a profound slump in the property market and capital flight of many overseas institutional investors in the sector, there appears to be little light at the end of the tunnel on changes to the existing land ownership law. Comments made this week by Prime Minister Abhisit Vejjajiva reinforced the ban on farm land under the existing Foreign Business Act have reiterated that Government policy and public sentiment remain entrenched and unmovable.

Triggering the farmland issue has been a growing rice farming industry where many of the growing Asian countries have turned from exporters to importers as a result of population growth. Not dissimilar to the FBA (foreign business act) scare a few years ago in the real estate trade, the alleged use of Thai nominees is becoming a hot enforcement issue.

Taking a step back and viewing the current high profile farm land and rice issue which have raised calls for protectionism in the country, its clear that the same arguments will apply to property land owning and form a very large obstacle to reforms in the foreseeable future.

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I find it interesting that so many lack the foresite to realize there are more houses than will ever sell already in Phuket,,,,, and yet they keep on building,,,, those who can learn from other countries mistakes are fortunate and prosper, those who fail to learn go broke like those before.
This is also the same for hotel space all over ZS. Thailand,, was recently in Ko Lanta and was shocked by the number of new rooms under construction. With reduced world travel and income I doubt the rooms existing before building boom will fill

C. Poe, 17 Aug 2009 | 11:02 am

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