Legal Entities With State Participation Would Require Joint Federal and Provincial Approval

Senator Patricia Bullrich, leader of the ruling La Libertad Avanza bloc, announced Wednesday changes to a land reform bill set for Senate debate Thursday. The revised measure raises the cap on foreign ownership of rural land from 15% to 25% per district, instead of eliminating restrictions as originally proposed. Bullrich said the 25% limit, requested by allied lawmakers, mirrors Brazil's threshold, while Uruguay, Chile, Paraguay, and Mexico have no such cap.

She dismissed fears about foreign control of water and natural resources, noting water access is guaranteed under Argentine law and overseen by provincial courts. Legal entities with state participation would require joint federal and provincial approval. Bullrich argued the current 2011 law, enacted under Cristina Kirchner, deters investment, and quipped that Argentina only surrendered sovereignty by allowing China to establish a space station.

Voting is expected to be tight, with projections giving the ruling party 34-35 votes against the needed 36. Vice President Victoria Villarruel has publicly criticized the bill, and demonstrations are planned outside Congress on Thursday. This marks the third attempt to bring the bill to the floor after prior postponements. water and natural resources.