HomeEmergencyArgentina to seek looser foreign ownership rules for rural land

Argentina to seek looser foreign ownership rules for rural land

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BUENOS AIRES, March ‌25 (Reuters) - Argentina's government will send ​a bill to Congress that seeks to change the limits ⁠on foreign ownership of rural land, Cabinet Chief Manuel Adorni said at a news conference ​on Wednesday, the latest step by the Milei administration ‌to boost foreign investment in the country.

Adorni said investments in oil, mining and agriculture require large terrain. 

President ⁠Javier Milei's administration has pursued a ⁠sweeping pro-market reform agenda aimed at attracting foreign capital, rolling back interventionist policies and deregulating key sectors.

"Today, the most important businessmen of the ‌world look at Argentina as a historic investment ⁠opportunity," Adorni said.

Adorni also referred ‌to a federal judicial investigation ​that has been opened into a trip he made last February to Punta del Este, ‌Uruguay, on a private airplane. The ​investigation is looking ⁠into whether the trip was made as ‌part of government business, ⁠according to local newspaper La Nacion.

Adorni, who has characterized the trip as a vacation for which ​he used private ‌funds, said he had "nothing to hide."

(Reporting by Nicolas ⁠Misculin and Lucila Sigal, ​writing by Leila Miller, editing by Cassandra ​Garrison and Nia Williams)

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