Foreign public companies could buy rural land

Image: El Universo

The Assembly accepted yesterday the Executive’s proposal in which foreign public companies could buy, rent, or enjoy profits from Ecuadorian rural lands when embarking agricultural production projects. The whole operation will be overviewed by the National Agricultural Authority in accordance with regulations to be drafted.

The Ecuadorian President, Rafael Correa, highlighted other 15 points to be taken into consideration in the Organic Law of Rural Lands and Ancestral Territories. Miguel Carvajal (AP), the chairman of the Committee on Food Sovereignty, explained that the Assembly met yesterday and gathered 92 votes, the same number that helped to ratify three texts adopted by them weeks ago. The opposition voted against it or they abstained. (I)

Source: http://www.eluniverso.com/noticias/2016/03/04/nota/5442324/empresas-publicas-extranjeras-podran-comprar-tierras-rurales