BANGKOK (NNT) – Many parties have expressed their concerns in response to the October 25th Cabinet endorsement, in principle, of a draft foreign land ownership bill. 

To address said concerns, the interior ministry will be withdrawing the draft ministerial regulation in favor of conducting public hearings and gathering input from relevant parties.

Government spokesman Anucha Burapachaisri revealed Cabinet meeting endorsed the interior ministry’s proposed withdrawal of an October 25th Cabinet resolution.

The previous resolution endorsed a draft interior ministry regulation that would enable foreigners to own a maximum of 1 rai of land. The prior move was made in favor of stimulating the economy and investments by attracting foreign persons of high potential to Thailand.

40 million baht of investment

The proposal was for 40 million baht of investment to be made and held for 3 years in exchange for the right to purchase land.

The government spokesman said the withdrawal was made in favor of thoroughly gathering public input and opinions of all relevant parties.

Prime Minister Gen. Prayut Chan-o-cha said after today’s Cabinet meeting that issues causing disagreement will be discussed. He noted the draft ministerial regulation was, in fact, still in the opinions-gathering phase and was not about to be enforced.

Interior Minister Gen. Anupong Paojinda said he requested the withdrawal due to the sensitive nature of the affair. He said the pros and cons for the economy and society needed to be prudently determined.

Information and Source

  • Reporter : Namo Vananupong
  • Rewriter : Tarin Angskul
  • National News Bureau : http://thainews.prd.go.th

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

New Thai Property Ownership law could Lure more Wealthy International Buyers

The government aims to accelerate Thailand’s post-pandemic economic recovery by allowing foreigners to purchase residential land if they invest a minimum of 40 million baht for at least three years.