Thailand Urged To Remove Foreign Ownership Limits

[phuketsiam]

Is that why forigners are only allowed to own 49% of a company, except americans thats is?

[Guest endure]

I don't understand this need to protect land from foreign ownership. Can someone explain it to me? Are the Thais frightened that someone is going to buy up all of Thailand and take it home with them?

<{POST_SNAPBACK}>

Get real.

Tell me how any villager can compete in the house market?

No country should bend to the financial pressures of wealthy farangs.

By all means enjoy living in a beautiful country.

Do Not be so far up your own arse that because you are wealthy you should have rights.

<{POST_SNAPBACK}>

I'll remember that when I go and visit my Thai friend here in the UK on Saturday at the restaurant that he owns . I'll remember it when we go to one of the 4 houses that he owns too. If your countrymen can buy houses in my country why can't I do the same in yours? I thnk we ought to start restricting the sale of land in the UK to Brits only.

[cclub75]

How Thailand is a closed society ? This is no North Korea. I think you are confusing Open society with Liberal society. 2 different beasts.

Well, i think thoses 2 ideas get along... It's difficult to achieve an open society if it's not first "liberal" on the economical level (with the european meaning, not the US meaning, AKA leftist).

At one time, you have to choose : you play globalization (export, industry, BOI blablabla, 1 million car produced this year hip hip hurrah, oh look another McDonald opens in Siam Center, great), fair enough, and in this case you'll have to open your "borders" (geographic , mental, economic). Or you close (North Korea), fair enough too. And you go back to stone age.

It's a choice.

Don't forget, regarding history in modern days, 19 and 20th century, that ALL the so called "third ways" have always failed. That's a fact.

But don't get me wrong : I personnaly don't like McDonald.

[Nignoy]

Malaysia has a nice two house limit for people on the Malaysia MySecond Home visa program that includes a renewable 5 year visa.

To protect land from permanent foreign ownership the Australian way is also interesting.  Foreigners are only allowed to buy new builds or build themselves...this way the land/property will always end up back in Australia citizens hands as your forbidden from selling a pre-owned property to any non-citizen.

<{POST_SNAPBACK}>

Dont know where you get your information on property laws here in australia, we are in possesion of our 4th property here ,all bought pre owned,40% of the housing in our area is foreign owned, our present house was purchased off a singaporean property owner 7 years ago, does not matter where you come from here in Oz as in Thailand Money talks Nignoy

[MilkPlus]

I think that the restrictions on foreign ownership will remain for a long time....the reason being that foreign owned stakes in Thai businesses are not subject to the pressures of internal Thai politics and thus are not subject to the control of the Thai political establishment.

<{POST_SNAPBACK}>

LOL, are you kidding? Thailand doesnt have any choice, unless of course they want to be left in the dust.

Right now they are riding out the Taiwan, Hong Kong, China insecurity, when MNC's become more comfortable with those and a few other situations Thailand will either open her legs or become an old maid surrounded by thriving flourishing young maidens.

[MilkPlus]

I don't understand this need to protect land from foreign ownership. Can someone explain it to me? Are the Thais frightened that someone is going to buy up all of Thailand and take it home with them?

<{POST_SNAPBACK}>

Get real.

Tell me how any villager can compete in the house market?

No country should bend to the financial pressures of wealthy farangs.

By all means enjoy living in a beautiful country.

Do Not be so far up your own arse that because you are wealthy you should have rights.

<{POST_SNAPBACK}>

I'll remember that when I go and visit my Thai friend here in the UK on Saturday at the restaurant that he owns . I'll remember it when we go to one of the 4 houses that he owns too. If your countrymen can buy houses in my country why can't I do the same in yours? I thnk we ought to start restricting the sale of land in the UK to Brits only.

<{POST_SNAPBACK}>

Because HE^^^ cant afford one.

[Nickerelastic]

Get real.     

Tell me how any villager can compete in the house market?

No country should bend to the financial pressures of wealthy farangs.

By all means enjoy living in a beautiful country.

Do Not be so far up your own arse that because you are wealthy you should have rights.

<{POST_SNAPBACK}>

Er - in my experience its the wealthy Thai's who follow this mantra more than the forigners

<{POST_SNAPBACK}>

Live by the law of the country you choose to live in.

[MilkPlus]

Get real.     

Tell me how any villager can compete in the house market?

No country should bend to the financial pressures of wealthy farangs.

By all means enjoy living in a beautiful country.

Do Not be so far up your own arse that because you are wealthy you should have rights.

<{POST_SNAPBACK}>

Er - in my experience its the wealthy Thai's who follow this mantra more than the forigners

<{POST_SNAPBACK}>

Live by the law of the country you choose to live in.

<{POST_SNAPBACK}>

What hes^^^^ really saying is get a really really good lawyer.

[OlRedEyes]

Get real.     

Tell me how any villager can compete in the house market?

No country should bend to the financial pressures of wealthy farangs.

By all means enjoy living in a beautiful country.

Do Not be so far up your own arse that because you are wealthy you should have rights.

<{POST_SNAPBACK}>

Er - in my experience its the wealthy Thai's who follow this mantra more than the forigners

<{POST_SNAPBACK}>

Live by the law of the country you choose to live in.

<{POST_SNAPBACK}>

And leave your mind 'back home'.....

[Heng]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes.

[MilkPlus]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

<{POST_SNAPBACK}>

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

[Heng]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

I think they get along rather well as it is. History aside, there's the present and future to take care of.

And hardly racist as it's only the first step, a trial basis. The Americans had preferential treatment here for awhile, appeared not to really want it, so it was revoked.

[on-on]

I understand why the current government here is still taking a more Keynesian approach to its economic policy - the memories of what happened when foreign investment fled after the Asian financial crisis are still pretty fresh and regardless of whose fault it was (Thai Central Banking for pegging a currency, largely) there's no doubt that the currency traders and foreign investors multiplied the effect. Couple this with the nationalistic bent of the recent political rhetoric and it makes a lot of sense, whether or not it's moral.

Politics are largley pragmatic. The argument here has been way too focused on personal ownership of land and business really, which is a red herring - Mobius is asking for large scale foreign investment: factories, tourist development, infrastructure, telecom - anything industrial. Surely any legislation passed to accomodate large scale industrial foreign investment could be tooled to protect Thai ownership of personal property if they so desire while not stifling the ability of multinationals and investment groups to flow capital into Thailand. Mobius' point is well taken really, it's a question of pragmatics. Whether or not the Thais want foreign investment or the expats want it, the lack thereof will stifle growth. That's a given. There should be no reason that the Thai government couldn't carefully open the doors to investors and cap total investment levels while still allowing lovely, greedy foreign dollars to flow in and improve the situation for everyone. For tender developing economies like Thailand's, a healthy mix of protectionism and open markets is key. Niether a fully protectionist nor fully open market is advisable. The former will kill growth and the latter will allow Thailand to be picked apart like fish meat from the bone.

[MilkPlus]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

<{POST_SNAPBACK}>

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

<{POST_SNAPBACK}>

I think they get along rather well as it is. History aside, there's the present and future to take care of.

And hardly racist as it's only the first step, a trial basis. The Americans had preferential treatment here for awhile, appeared not to really want it, so it was revoked.

<{POST_SNAPBACK}>

Come on now, be honest, the Japanese are some of the most racist people on the planet.

The Chinese detest the Japanese, if it were not for the USA the Chinese would have slaughtered the Japanese years ago.

Im not picking or choosing sides in this one, simply being objective about it.

[Heng]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

I think they get along rather well as it is. History aside, there's the present and future to take care of.

And hardly racist as it's only the first step, a trial basis. The Americans had preferential treatment here for awhile, appeared not to really want it, so it was revoked.

Come on now, be honest, the Japanese are some of the most racist people on the planet.

The Chinese detest the Japanese, if it were not for the USA the Chinese would have slaughtered the Japanese years ago.

Im not picking or choosing sides in this one, simply being objective about it.

Thousands of Japanese factories set up in China. The same for Taiwanese factories. Nevermind that the PLA runs simulations (that will never happen) on the invasion of Formosa. There's politics and history + CNN and then there's the reality of business. As for Thailand, there are already Chinese and Japanese schools and factories set up here. Both countries have been heavily invested in Thailand for decades. There's a hundred times more friction between Thai technical schools than between the Chinese and Japanese in Thailand.

I'm just being objective about it as well.

[Nignoy]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

<{POST_SNAPBACK}>

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

<{POST_SNAPBACK}>

I think they get along rather well as it is. History aside, there's the present and future to take care of.

And hardly racist as it's only the first step, a trial basis. The Americans had preferential treatment here for awhile, appeared not to really want it, so it was revoked.

<{POST_SNAPBACK}>

Come on now, be honest, the Japanese are some of the most racist people on the planet.

The Chinese detest the Japanese, if it were not for the USA the Chinese would have slaughtered the Japanese years ago.

Im not picking or choosing sides in this one, simply being objective about it.

<{POST_SNAPBACK}>

Thousands of Japanese factories set up in China. The same for Taiwanese factories. Nevermind that the PLA runs simulations (that will never happen) on the invasion of Formosa. There's politics and history + CNN and then there's the reality of business. As for Thailand, there are already Chinese and Japanese schools and factories set up here. Both countries have been heavily invested in Thailand for decades. There's a hundred times more friction between Thai technical schools than between the Chinese and Japanese in Thailand.

I'm just being objective about it as well.

<{POST_SNAPBACK}>

Dont worry about the japanese, they have already taken over here in Australia especially here in Queensland,I know lots of us would love to have the security of owning the little piece of land our house is is built on in los, but we cant!! folks thems the rules you know that before you start building or buying, So whats the frigging problem, try buying a second home in malaysia,the government fees, will give you nightmares , and the attitude of the local councils and these days a lot of the nationals too are very anti against non muslim residents. Was going to buy a retirement home in the US of A but the difficulties are far worse than Thailand, What with the language barrier, no decent food,no rugby league only fancy dress sports and knowing my luck George W would put me on the first plane to Iraq so we will stick with our 2 little pieces of heaven in Prachuap and Queensland , enjoy our selves growing old as disgracefully as we can NO regrets no matter what happens!! Nignoy

[MilkPlus]

Step by step I think... first open up ownership to Malays, Kampucheans, Laos, Burmese, Vietnamese, Indos, Singaporeans, Japan, China, and Taiwan and see how it goes. 

<{POST_SNAPBACK}>

Wow, thats really racist.

Maybe we should try that in the States.

I cant wait to see how the Japanese and Chinese get along in YOUR Thailand.

<{POST_SNAPBACK}>

I think they get along rather well as it is. History aside, there's the present and future to take care of.

And hardly racist as it's only the first step, a trial basis. The Americans had preferential treatment here for awhile, appeared not to really want it, so it was revoked.

<{POST_SNAPBACK}>

Come on now, be honest, the Japanese are some of the most racist people on the planet.

The Chinese detest the Japanese, if it were not for the USA the Chinese would have slaughtered the Japanese years ago.

Im not picking or choosing sides in this one, simply being objective about it.

<{POST_SNAPBACK}>

Thousands of Japanese factories set up in China. The same for Taiwanese factories. Nevermind that the PLA runs simulations (that will never happen) on the invasion of Formosa. There's politics and history + CNN and then there's the reality of business. As for Thailand, there are already Chinese and Japanese schools and factories set up here. Both countries have been heavily invested in Thailand for decades. There's a hundred times more friction between Thai technical schools than between the Chinese and Japanese in Thailand.

I'm just being objective about it as well.

<{POST_SNAPBACK}>

Good points Heng.

Capitalism = Peace!

It is amazing how people will get along when they can find "mutual" understanding.

[remmy]

Thailand should limit foreign onership and investment particularly in banking. Looking back at the 1997 financial crisis in asia, it started with foreign investor demanding repayment of their investment/loans without any warnings which caused the collapse of financial system in SE Asia. Strict banking system which limit foregin investment and ownership is cited as the reason why India was not affected by the 1997 Asian crisis. Do not expect thailand to be fooled again by these greedy capitalist.

[Sur_MÖSE]

  Do not expect thailand to be fooled again by these greedy capitalist.

<{POST_SNAPBACK}>

Delusions of Thailandian grandeur!

[TokyoT]

Thailand can only grow so fast without increasing levels of FDI, and one sure way to increase the levels of FDI is to do as Mr. Mobius suggests.

With the comfort level increasing almost daily for FDI into China, I think the choice is pretty clear for Thailand – keep the protectionist attitudes and stay a third world country for decades to come, or open up the markets and let money from the outside world pull them out of the third world.

[cclub75]

Thailand should limit foreign onership and investment particularly in banking. Looking back at the 1997 financial crisis in asia, it started with foreign investor demanding repayment of their investment/loans without any warnings which caused the collapse of financial system in SE Asia. Strict banking system which limit foregin investment and ownership is cited as the reason why India was not affected by the 1997 Asian crisis.  Do not expect thailand to be fooled again by these greedy capitalist.

<{POST_SNAPBACK}>

Wrong, wrong, wrong. You simply repeat the official thai propaganda : the bad "global" farang against the nice and innocent thai, that was the cause of the 97 debacle.

It's so funny.

Do your homework, look around for facts, datas.

In 1997, like now, the banking sector was not really open in Thailand.

And why foreign investor wanted to get out ? Because the THB was collapsing. And why the THB was collapsing ? Because many factors (current deficit one of them) but also because of the silly "nationalistic" policy of the BOT who wanted to fight the world with it's little fist etc. etc.

I mean, 97 crisis is largely documented. Enough not to read such stupid statement.

[astral]

... "If Thailand does not trust foreigners, why should foreigners risk investing their money in Thailand?" Mobius, president of Templeton Emerging Funds, was quoted as saying by the Bangkok Poston Monday.

    "We can go to markets like Hong Kong or Singapore that welcome us with open arms. Even China's mainland is more welcoming than Thailand in this regard," Mobius said...

<{POST_SNAPBACK}>

... any chance, that Thailand would listen?

<{POST_SNAPBACK}>

None at all.

Xenophobia rules in Thailand.

[Butterfly]

Thailand should limit foreign onership and investment particularly in banking. Looking back at the 1997 financial crisis in asia, it started with foreign investor demanding repayment of their investment/loans without any warnings which caused the collapse of financial system in SE Asia. Strict banking system which limit foregin investment and ownership is cited as the reason why India was not affected by the 1997 Asian crisis.  Do not expect thailand to be fooled again by these greedy capitalist.

<{POST_SNAPBACK}>

Wrong, wrong, wrong. You simply repeat the official thai propaganda : the bad "global" farang against the nice and innocent thai, that was the cause of the 97 debacle.

It's so funny.

Do your homework, look around for facts, datas.

In 1997, like now, the banking sector was not really open in Thailand.

And why foreign investor wanted to get out ? Because the THB was collapsing. And why the THB was collapsing ? Because many factors (current deficit one of them) but also because of the silly "nationalistic" policy of the BOT who wanted to fight the world with it's little fist etc. etc.

I mean, 97 crisis is largely documented. Enough not to read such stupid statement.

<{POST_SNAPBACK}>

Yes this is correct. Still most Thais think the IMF was a bad thing. They failed to realize it saved their ass or else everybody would have replaced the THB with meal tickets