The food crisis in 2007-2008 triggered a global race among large agribusiness corporations for the acquisition and control of large tracts of agricultural lands in developing countries in Africa and Asia. Coinciding with growing global demand for food, mainly due to rapid population growth, and the dominance of the growth paradigm that prescribes the infusion of foreign direct investments (FDIs) to fuel the economic growth, developing countries were also pushed into competition with each other for attracting FDIs that led to these countries providing too much incentives. Although the entry of FDIs leads to economic growth and employment, it also creates significant negative social, economic and environmental impacts such as food insecurity (as FDIs in agriculture tend to focus on monocrops and industrial/cash crops), the environmental degradation (due to adoption of unsustainable agricultural practices and technologies), exploitation of labor and occupational health and safety issues, “land grabbing” or large-scale acquisition of agriculture lands, displacement and loss of access to land and other natural resources for local and indigenous communities, destruction of cultural heritage, and even human rights violations. As such practices became more rampant, a global clamor from people’s and development organizations for the curtailment of such practices and arrangements. And to address the issue, the United Nation’s Committee on World Food Security developed and endorsed in 15 October 2014 the Principles of Responsible Investment in Agriculture and Food Systems (CFS-RAI). The said principles sought to increase agricultural investment and, at the same time, improve the quality of said investments. The Association of South East Asian Nations (ASEAN) also developed its own Guidelines for Responsible Investment in Food, Agriculture and Forestry that (AGRAI) is adapted to the region’s context