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| Romania to limit foreign land buy-ups |
| Bucharest, 15.10.2012 |
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| ROMANIA plans to impose strict conditions on foreigners buying agricultural land to protect local farmers and prevent speculation, Agriculture Minister Daniel Constantin says.
The left-wing government will either cap the number of hectares that a foreigner is allowed to purchase or request that the buyer has farming experience, Constantin says.
"We must take steps to protect Romanian farmers from the European ones, who have more money," the minister said on Monday. "But on the other hand, Romania's agriculture needs investment, so we must also create favourable conditions to attract investors."
Hungarian Prime Minister Viktor Orban has also unveiled plans for new legislation to prevent foreigners from buying agricultural land.
Orban on Saturday told a meeting of young farmers that similar rules applied in countries such as France or Austria.
AAP |
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