Govt finds foreigners buying farmland

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Govt finds foreigners buying farmland

Published: 19/08/2009 at 04:02 PM
Online news: Breakingnews

The government has uncovered evidence suggesting foreigners could have obtained illegal ownership of about 10,000 rai of farmland in the central region and employed farmers to grow crops there, Deputy Commerce Minister Alongkorn Ponlaboot said on Wednesday.

The Foreign Business Act prohibits foreigners or foreign firms from buying or renting land to grow crops or raise livestock, but they can form joint ventures in which Thai partners have 51 per cent of the equity.

Officials from the Department of Business Development and the Department of Special Investigations investigated agriculural areas in the central provinces, and found that foreign investors could have breached the law, Mr Alongkorn said.

The Foreign Business Act provides for a maximum three years in prison and/or a fine of one million baht for violations.

He said the investigators were still determining whether the foreigners were using nominees to invest in agriculture. The finding should be available next week.

"The government is not trying to obstruct foreigners from doing business in Thailand, but their businesses must be legitimate," he said.

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LookMoo

Discussion 26 : 25/08/2009 at 07:56 PM26
SIMON!

You got it right.. by using speculative opinions as they where fact based you can start a rally against foreigners, the rot to all evils in Thailand. .. it's like "almost pregnant".
Aussie John

Discussion 25 : 24/08/2009 at 05:53 AM25
'Western soverignty at RISK'
'Western governments find Thai Aliens buying and owning Western homes and businesses OUTRIGHT.?'
What's wrong with this statement.??????
Simon

Discussion 24 : 23/08/2009 at 10:05 AM24
Foreigners "could have" obtained illegal ownership? Could have? Rubbish. This is just a face-saving story to cover the fact that the initial investigation found *no evidence* whatsoever. The whole exercise was a shameful example of the xenophobia that permeates the government.

If you want to look for illegal foreign investment in real estate, the best place to look is along the coastline, not the rice paddies!

But isn't it time to get on the cluetrain: You can't keep foreigners out and foreign investment in at the same time. Make up your mind, Thailand.
Chiangmai Skipper

Discussion 23 : 21/08/2009 at 11:39 PM23
There are certain qualities, attributes and images that come to mind when any country is named. Mention Thailand and many people will think Buddhism, delicious cuisine, adventure, cultural richness, and a leisurely laid-back “my bpen rai” attitude. These certainly contribute to my love of Thailand and enhance my stay here.
However if I were a businessman I would not invest a single satang in Thailand whether it be a small, medium or large undertaking. The rules and regulations are exploitive towards the foreign investor who must relinquish majority control to the Thai elite. The Thai elite claim this Foreign Business Act is to protect the country. What it actually does is stop any foreign business from utilizing their own management style which may be a vast improvement for the worker. In other words, no competition. You may ask about Carefore, Tesco, and Makro etc.? Thai elite majority owned, low wages paid and big baht to the big people.
On the small business enterprise level such as a westerner/non-Thai financed massage parlor, restaurant, small shop, market etc., the success stories are quite rare. This is, once again, because certain qualities, attributes and images that come to mind when any country is named. As yet, good work ethic, reliability, punctuality, admission of and learning from ones’ own mistakes has not taken hold in Thailand. Not to forget the bribe money to every lowly ‘official’ even remotely connected with all the red-tape involved. Spend your money here but I’d sure recommend earning and investing it elsewhere.
Same Same

Discussion 22 : 21/08/2009 at 02:51 PM22
Implement the same rules for Thais in the UK including the Thai PMs family this would be fair.
ANONNYMOUSE

Discussion 21 : 21/08/2009 at 01:50 PM21
tesco is here as tesco lotus, the latter being the thai JV partner. they are not here as Tesco UK.
Richard Collins

Discussion 20 : 21/08/2009 at 09:25 AM20
The law should also state that Thais cannot invest in more than 49% of companies etc in foreign countries...
RicefieldRadio

Discussion 19 : 21/08/2009 at 01:28 AM19
I'm shocked that Farang now own 16 sq km of our Thai 513,120 sq km. While I don't like the idea of Thailand turning into huge tract farms this amount is laughable at best. It's really going to shock the government if they ever figure out that 90% of the farang that are married to Thai women also really own their family land, might even amount to 1000sq Km. 55555555555555

BTW, I'm not against foreigners owning a set amount of land, pick any number you think is fair, in Thailand in their own name. My wife and I bought property overseas without any problem it should be the same here.
Aussie John

Discussion 18 : 20/08/2009 at 10:57 AM18
Pray tell.? What is a fair investment in the Land of the Free.?
It's certainly not fair if you are an average westerner married to a Thai national.
Setting up a small business is off limits,
Now if you were a multi national MULTI MILLION DOLLAR COMPANY like Tesco your welcome with open arms.
Bill W

Discussion 17 : 20/08/2009 at 10:29 AM17
This all comes down to money! Like many of the other dealings in Thailand, if you have the money, you can do anything and people will look the other way.
....and yes, I am very interested to know just who the "foreigners" are that the government is investigating. Those facts should be made public in the PB, but hence we will never know because I assume those with enough money will pay the government investigators to "be quiet".
As stated before, there is no such thing as "illegal ownership". You either own something or you don't! Where do these officials of the government come up with these statements? WHo hired them in the first place? No wonder this country is in trouble!

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Govt finds foreigners buying farmland