Thailand cracks down on foreign enterprises that pretend to be local

BANGKOK/HANOI -- Authorities in Thailand are clamping down on businesses that pretend to be domestically owned but are actually controlled by foreign interests as growing Chinese influence over farming raises alarms. "If Chinese companies continue to dominate the coconut industry, it will become impossible to make a living," said Thanwa, a coconut farmer in Ratchaburi, a province in central Thailand. Thanwa, 53, inherited the coconut farm that was started by his father three decades ago. The plantation contains over 1,000 coconut trees within 48,000 square meters of land. However, the farm has been operating at a loss in recent years. The shifting fortunes became apparent around 2024 with the arrival of a host of produce brokers tied to Chinese enterprises. The price of coconuts began to fall, and now each coconut sells for 3 baht (9 cents) -- less than a third of the previous value. Chinese companies with sales channels on the mainland have gained outsize leverage over the ...