Thailand not for sale: Cabinet nixes land for rich foreigners

The Thai cabinet on Tuesday backpedaled on a recently announced policy to allow wealthy foreigners to own land. 

Interior Minister Anupong Paojinda said yesterday that his ministry’s proposal to allow noncitizens with deep pockets to own 1 rai (1,600sqm) of land was withdrawn for thorough review due to its “sensitive” nature. 

Although Anupong did not elaborate on what was so “sensitive,” a drumbeat of criticism has grown in the weeks since it was announced that the government was literally “selling off” the country to foreigners. 

In late October, the cabinet gave a green light to the proposal. It would allow foreign nationals to purchase land on the condition they could maintain an eligible investment of at least THB40 million (US$1 million) in Thailand for at least three years.

Voices denouncing the move have grown as Thailand in recent weeks…