Thais to weed out farm investment

Gulf investors may be forced to reconsider plans to acquire agricultural land in Thailand following moves there that could curb foreign investment in the sector.

Thailand’s agriculture ministry is drafting legislation that would impose new zoning regulations to prevent farmland from being switched to new purposes, such as exporting to specific countries.

“We have finished drafting,” Nikorn Jamnong, an adviser to the agriculture minister, told Reuters. “The law should be endorsed by the house of representatives very soon, as the government has a very clear policy that farm businesses are not allowed to be owned by foreigners.”