Parliament approves law on land reform in first reading

UKRAINE - In Brief 13 Nov 2019 by Dmytro Boyarchuk
Finally it happened! Verkhovna Rada has just approved law on land reform in first reading with 240 votes (226 needed). The draft law presumes free agri-land circulation. Land could be owned by individuals and legal entities. Foreigners are not allowed to own agri-land plots till 2024. There is a cap on the size of lands owned by one person to avoid concentration. Substantial resistance was observed. We saw large protests near Verkhovna Rada. And over the recent days there were rumors that Servant of the People party might not be ready for this move. President Zelenskiy even made a video-address trying to sooth protesters promising to put the question on land sales to foreigners for referendum. For the second reading resistance is expected to mount. But the Cabinet had committed to complete the step by December 1st. Some changed are expected to be introduced to the law. But we still believe there is a strong political will to launch land market whatever happens. Keep fingers crossed!

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.