Photo from UNIAN
The Ukrainian Cabinet of Ministers proposes opening the land market in Ukraine in two stages – launching sales of state farmland from 2017, and allowing citizens to trade in agricultural land held in private ownership from 2019, that's according to the government action plan for 2016 published on its website.
It is expected that the legislative framework will have been developed by late March and then submitted for consideration of the parliament.
The statement notes that "such move will help create a full-fledged land market, enabling owners to dispose of their property, and it will contribute to business development and attraction of investment."
Read alsoUkraine forecasts price of farmland once moratorium on sale liftedAs UNIAN reported earlier, the Ukrainian parliament extended a moratorium on the purchase and sale of farmland until January 1, 2017. At the same time, the program of economic reforms approved by the country’s key creditor, the International Monetary Fund, envisages the launch of the land market in Ukraine, which is believed to help attract investment and technology in Ukraine. In addition, President of Ukraine Petro Poroshenko has repeatedly stressed the necessity to develop legislation for the launch and operation of the land market in Ukraine.
In late February, Ukrainian Prime Minister Arseniy Yatsenyuk stated he considered it necessary to sell 1 million hectares of state-owned land, which was in the shadow and corrupt turnover, at an open and transparent auction. According to estimates, Ukraine has around 10 million hectares of land in state ownership.
Experts have different opinions as to the issue of lifting the moratorium. Some believe that its extension will contribute to the creation of the shadow land market. Others point to the fact that the lifting of the moratorium will lead to a situation where people will be dispossessed of lands belonging to them, as well as to large-scale purchases of farmland by foreign companies.