Thailand has introduced a new policy that extends land lease terms for foreign investors to 99 years. Deputy Prime Minister and Finance Minister Pichai Chunhavajira presented the plan at the 2024 CEO Econmas Awards. The policy raises lease terms from the former 30-year limit, offering foreign investors enhanced security. They can now utilize, trade, or secure loans with leased land, an attractive option within Thailand’s growing economy.
With 540,000 square kilometers of land and a population of 67 million, Thailand aims to become a prime investment destination. At the end of the 99-year lease, the land will return to state ownership. The government has pledged to redistribute this land to benefit low-income families.
Affordable Housing and Urban Development
The new policy also addresses affordable housing by making idle state land available for low-income development. Specifically, key urban zones such as Silom and Sukhumvit are prioritized to help reduce commuting costs and improve the quality of life for workers.
However, while the policy has generated enthusiasm among investors, it has also raised concerns about land ownership and rights. Therefore, its ultimate approval remains pending as stakeholders await government proceedings to formalize the legislation.
A powerful cold air mass from China is lowering temperatures across northern and southern Thailand. The Thai Meteorological Department warns of heavy rain and potential flash floods in the south, while the north faces cooler temperatures and strong winds. This weather pattern should continue over the next few days, with moderate wave activity in the Gulf of Thailand and the Andaman Sea. Authorities urge mariners to navigate cautiously, and residents should prepare for cool mornings and shifting weather conditions.
In Phuket, a viral altercation between a motorcycle taxi driver and tourists has prompted swift intervention by local authorities. The incident occurred when tourists, attempting to board an app-booked EV taxi, were stopped by a motorcycle driver demanding they leave the vehicle. Captured on CCTV, the footage quickly circulated on social media, drawing widespread criticism. Many have called for police to support app-based taxi services to prevent similar incidents. The motorcycle driver, found intoxicated, now faces charges including driving under the influence and operating without a license.
Pattaya is preparing to host two major events this weekend: the Pattaya International Tattoo Festival and the Pattaya International Bikini Beach Race 2024. Central Marina will welcome world-renowned tattoo artists and hold the Miss Bikini Tattoo contest. Meanwhile, a 5-kilometer beach race featuring celebrities and live performances will energize Pattaya’s shoreline. Both events are expected to draw large crowds and provide an economic boost to the local area.
In Lahore, Pakistan, extreme air pollution has led to the temporary closure of primary schools. Air quality indices have reached hazardous levels, prompting local authorities to act to protect children from toxic exposure, which poses risks of respiratory diseases and reduced life expectancy. In response, officials have introduced new restrictions on polluting vehicles and unfiltered barbeque restaurants. Government and private offices are also implementing remote work policies to minimize exposure.
In western Japan, the aftermath of Typhoon Kong-rey has led to evacuation advisories for nearly 200,000 residents due to landslide and flood risks. Matsuyama City issued a high-level evacuation warning, though it is not mandatory. Typhoon Kong-rey previously impacted Taiwan, causing power outages and casualties. Scientists suggest climate change is heightening the risks linked to extreme rainfall.
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