Political Risk Latin America Blog @PolRiskLatam

Argentina will limit farm land holdings and purchases by foreigners

Posted in News and Articles, Political Risk by politicalrisklatam on April 28, 2011

by Merco Press News, April 28th, 2011.

Argentina said on Wednesday it will restrict foreign ownership of farmland. President Cristina Fernández de Kirchner made the announcement during a televised speech at Government House saying she was sending a bill to Congress which will cap land ownership for foreigners.

The President revealed that she intends to send the new property law proposal dealing with land possession to Congress with hopes of, “conserving a national domain, rather than State”.

She added that the bill is not intended to bring farm land under ‘state control’ and on the contrary is geared to help Argentines make the most of the country’s farmland.

The new law, if approved by Congress, will restrict foreigners land purchase ability, reducing it down to just 1,000 hectares.

“It’s a law which hopes to conserve the national domain over land ownership, as it is aimed at Argentines, especially those who have the capacity to invest in and implement land production” President Cristina Fernandez said during the speech. (continue reading… )

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: