Bulgaria to Possibly Introduce Compulsory Consolidation of Farming Land

Business | November 11, 2008, Tuesday // 00:00
Bulgaria to Possibly Introduce Compulsory Consolidation of Farming Land: Bulgaria to Possibly Introduce Compulsory Consolidation of Farming Land Valery Tsvetanov, Bulgarian Agriculture Minister stated on Tuesday that land consolidation was the main issue for Bulgarian agriculture. Photo by Yuliana Nikolova (Sofia Photo Agency)

Bulgaria must adopt a new legal mechanism to force land owners to consolidate their plots when 51% of them agree on such move, as proposed by Vesselin Petrov, Executive Director of the ELANA Property Management.

According to the proposal, the remaining 49% of the owners would have to accept the consolidation regardless of their opinion.

The proposal was discussed on Tuesday at a conference dedicated to investments in farm lands.

Valery Tsvetanov, Bulgarian Agriculture Minister and Kamen Kolchev, Chair of ELANA's Board of Directors united around the idea that land consolidation was the main issue for Bulgarian agriculture.

Kolchev further stated that the consolidation must become a priority for the next Bulgarian Cabinet.

ELANA is one of the biggest non-banking financial groups in Bulgaria with 17 years of history in developing products and setting the trends on the local market in the areas of asset management, trading on financial markets, investment banking, business consulting, investment in agricultural land..

ELANA has established one of the first licensed brokerage companies, asset management company and mutual fund as well as the first REIT investing in agricultural land.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria