Argentina wants to restore limits on land sales to foreigners

The Argentine Parliament has moved to restore limits on land sales to foreigners, reversing a previous decision by President Javier Milei. The Chamber of Deputies approved the restoration of the Rural Land Law, initially enacted in 2011, amid public protests. This legislative change will be sent back to the Senate for a vote. The government's retreat follows concerns that the opposition could gather enough support to overturn Milei's economic deregulation plans. The Supreme Court had previously suspended the elimination of land sale restrictions after environmentalist challenges. Despite favorable conditions, foreign direct investment in Argentina remains low compared to other Latin American economies. The government also announced a citizenship program for foreign investors contributing at least $350,000.