Photo from UNIAN
The ministry projects a 1% GDP growth annually due to the reform.
Minister for Agrarian Policy and Food of Ukraine, Roman Leshchenko, says the land reform in Ukraine is nearing its logical conclusion, and Ukrainians will soon receive a transparent farmland market.
He made the comment at a meeting on the strategy of environmental protection and development of the agricultural sector, as reported by the press service of the President's Office on February 24.
"The historic land reform is approaching its logical conclusion. Ukrainians will have a transparent land market, while our country will be able to become a 'global food supermarket.' Completion of the land reform will add momentum to economic growth. In particular, the annual GDP growth is projected to be at least 1%," the press service quoted Leshchenko as saying.
The ministry is currently working mostly on the restoration, upgrading, and construction of irrigation systems, he added.
Read alsoLand reform: Experts elaborate on price of farmland in Ukraine
On April 28, 2020, Ukrainian President Volodymyr Zelensky signed a bill into law to amend certain legislative acts of Ukraine on the conditions of circulation of farmland No. 552-IX, which was approved by the Verkhovna Rada on March 31, 2020. The document is designed to launch the farmland market in Ukraine from July 1, 2020.
The law provides for phased land reform: from July 1, 2021, only citizens of Ukraine will be able to buy up to 100 hectares of farmland. During the second stage to be launched on January 1, 2024, the cap will rise to 10,000 ha, while legal entities will gain access to the market.