As a step towards adapting agricultural sector regulations to the country’s current challenges, and to capitalize on potential foreign investment, the Venezuelan Society of Agronomists and Food Engineers (SVIAA) has requested the National Assembly to include a reform to the Land and Agrarian Development Law (LTDA) on its discussion agenda. Legislative.

The president of the Venezuelan Agricultural Society (SVIAA), Saúl Elías López, indicated that the current regulations, enacted in 2001 and amended several times, “no longer meet the current needs of the Venezuelan countryside nor the demands of investors.”

The union leader believes that the Land Tenure Law (LTDA), which regulates land ownership based on criteria of social function and collective well-being, under the direction of the National Land Institute (INTI), “must be thoroughly reviewed to offer guarantees that will attract capital and reactivate production.”

An evaluation and reform of the law will lead to greater confidence and legal certainty for agricultural producers, as well as guarantee respect for private property.

López insisted that “Venezuela needs to generate confidence, to project the image of a safe country for national and foreign investment.”

M.Pino

Source: finanzasdigital

(Reference image source: Irewolede on Unsplash)

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