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Protecting Thailand from foreigners serves whose interests ?

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Preventing foreigners from owning land and property in Thailand does many things: it protects powerful Thai landlords and agricultural monopolies, forces overseas investors to consider setting up shop in other regional markets, drives Thai capital from the country and provides a pool of nationalist bile for tub-thumping politicians to draw on and whip up a frenzy of anti-foreigner sentiment at the drop of a hat.

There are understandable concerns that easing regulations would enable foreign multinationals to snap up agricultural land, drive up rents and force farmers from their land.

What it does not do, however, is support the development of a sustainable and competitive local economy.

The Land Act and the Foreign Business Act (FBA) are the two main laws restricting the foreign ownership of businesses and land, capping the maximum foreign share at 49% in most cases.

The FBA has its roots in the Revolutionary Party's Announcement of National Executive Council No. 281 issued in 1972 by the then military government. This was a time when waves of refugees and immigrants were flooding in from China and the legislation was passed to prevent newcomers from poaching jobs as hairdressers and tuk-tuk drivers from Thais.

via Keeping foreigners out serves whose interests?.

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Investment

Thailand Saw $1.7 billion Applications in Bio-Circular-Green (BCG) Investments in 2020, BOI Says

The BCG model, as defined by the Thai Government, encompasses industries that allow inclusive, sustainable growth while reducing waste, pollution and dependence on finite resources.

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In the first nine months of 2020, local and international companies applied to invest as much as $1.7 billion in Thailand in more than 300 projects in the sectors listed as “BCG”, or Bio-Circular-Green economic activities focused on environmental protection and sustainability, according to data collected by the Thailand Board of Investment (BOI).

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Thailand BOI new measures to boost post-Covid-19 investment

Thailand’s Board of Investment (BOI) approved a series of measures to accelerate investments and to encourage businesses to adopt digital technologies.

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The Thailand Board of Investment (BOI) on Monday approved a series of measures to accelerate investments, particularly in target industries and to encourage business to adopt digital technologies.

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Investment

Foreign Investors’ Confidence in Thailand Still High Despite Covid-19 Impact, BOI Survey Shows

Out of the 600 companies surveyed, 19.33% said they have plans to increase their investment in Thailand, while another 76.67% said they expect to maintain their current investment level.

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Despite the COVID-19-induced economic hardship, as much as 96% of foreign direct investors operating in Thailand are confident in the country’s potential and have plans to expand or at least maintain their investment, citing attractive investment incentives, a strong supporting industry supply chain and the availability of raw materials and parts, according to the Thailand Board of Investment’s (BOI) annual Foreign Investor Confidence Survey.

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