The Thai government is likely to shelve a plan to allow foreigners to own land for housing after the proposal drew fierce criticism. (Photo: thaipbsworld)
Bangkok (VNA) – The Thai government is likely to shelve a planto allow foreigners to own land for housing after the proposal drewfierce criticism.
Chayawut Chanthorn, Director of the Departmentof Land, said that Deputy Prime Minister Prawit Wongsuwon hadapproved the withdrawal of the Interior Ministry's draft regulation on landownership by foreigners.
The draft regulation, which was approved inprinciple by the cabinet in October, allows four groups of well-to-doforeigners with a long-term resident visa to buy up to one rai of land forresidential purposes, if they invest at least 40 million baht (over 1 million USD) in the countryfor at least three years.
However, the policy, which is aimed at attractingmore foreign investments to the country, has drawn flak from critics who are concerned about manyconsequences, especially the risk of property speculation.
Chayawut said the Ministry of Interior submitteda petition to Prawit last week seeking to withdraw the proposal, and that Prawit endorsed the request on November 7 before it was forwarded to thecabinet's secretariat.
Meanwhile, Deputy Prime Minister and Energy MinisterSupattanapong Punmeechaow said if the public disagrees withthe policy, the government will listen to their concerns./.
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The Thai government is likely to shelve a plan to allow foreigners to own land for housing after the proposal drew fierce criticism. (Photo: thaipbsworld) 
