Land Market Liberalization Gets Preliminary Approval
The Ukrainian parliament has given preliminary approval to the liberalization of Ukraine's land market. Now Ukrainian land owners can legally sell or rent out their land. A long disputed reform, it was supported by 240 MPs, primarily from the Servant of the People party. The current moratorium on land sales will expire on January 1, 2020
“We fight for the right of citizens to vote. Therefore, we also have to give citizens the right to dispose of their land. To enable the people who live on this land to dispose of it as they see fit, to enable them to implement their plans. This will give dignity to us all,” Minister of economic development, trade and agriculture Tymofiy Mylovanov said.
“The right to buy and sell land is granted to Ukrainian citizens and it is not specified here that citizens of Ukraine with dual citizenship can’t buy it. The right to buy land is granted to legal entities, including those with foreign capital. 7 million hectares of land already belong to corporations which are registered in Ukraine, but their control stock belongs to foreign states and corporations,” MP Yuliia Tymoshenko said.
The current moratorium on land sales is valid until January 1, 2020. According to experts on the agricultural market, the abolition of the moratorium will add 3 billion dollars in revenue to Ukraine’s state budget over the next 10 years.