The Thai cabinet has approved to withdraw the proposal of foreign land ownership for further study and public opinions in the future.
Our previous story:
Thai media says the Cabinet might reportedly consider rescinding the Interior Ministry’s foreign land ownership proposal that will allow foreigners who invest 40 million baht per year for three years to own up to 1 rai of land (roughly 0.4 acre) in Thailand.
Now for the update:
Government Spokesperson Anucha Burapachaisri said, today (November 8th) after the cabinet meeting that the cabinet has approved to withdraw the proposal of foreign land ownership with options to perhaps bring it back in other forms after study and public opinions in the future.
This comes after weeks of angry public opposition over the idea of allowing foreigners to legally own land even with many requirements and rules. Politicians and activists on all sides of the political spectrum also objected to the plan and several lawsuits had been filed over the proposal.
Meanwhile, western commenters and readers on social media forums were equally upset, saying that Thais could own property in many other countries and some of the politicians voting against the plan had property overseas. These commenters claimed this was hypocritical.