Moldova: Foreign investors will be able to buy agricultural land
Foreign business people will be able to buy agricultural plots in Moldova for creating their enterprise on them.
On Tuesday, Minister of Agriculture and Food Industry Valeriu Cosarciuc remarked at a news conference that the Law on the Ban to Sell Lands to Foreign Economic Entities will be changed.
"At present foreign citizens have no right to buy agricultural lands for the development of their businesses in Moldova, which circumstance impedes the country's economic development", Cosarciuc said.
In his words, the land market in Moldova will be liberalized and the economic entities, which would like to set up joint ventures on the processing of agricultural products, will have a chance to acquire agricultural lands immediately after the Law is amended.
The minister said that this year agricultural producers will be able to receive subsidies from the state only on the basis of their business-plans. Thus, 1/3 out of 300 million lei are envisaged in the budget for encouraging the crediting of agricultural producers by the commercial banks, 60 million lei - for encouraging investments in laying down plantations of perennial plants, 15 million lei - for insurance against agricultural risks, 18 million lei - for supporting investments in the production of vegetables in greenhouses, 40 million lei - for acquiring equipment.
The agricultural producers, who show a desire to receive subsidies, must submit their business-plans to the Ministry of Agriculture and Food Industry from March 12. The best projects will receive financing.
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