According to Xinhua news agency, Ukraine's highest Rada (parliament) passed an amendment to Ukraine's agricultural land transfer bill on March 31, which will abolish the ban on the sale of agricultural land for nearly 20 years. However, whether foreign enterprises and individuals have the right to purchase agricultural land in Uzbekistan still needs a referendum.

According to Ukrainian news agency, the third reading of Ukraine's highest Rada passed amendments to the Ukrainian agricultural land transfer act. According to the amendment, Ukraine will lift the ban on the sale of agricultural land in the second half of 2021.

According to the new law, in the first two years of the opening of Ukraine's agricultural land market, the right to purchase land is only applicable to natural persons, legal persons are prohibited from purchasing agricultural land, the sale of state-owned land is prohibited, and the single purchase of land shall not exceed 100 hectares. Two years later, the upper limit for single purchase of land is 10000 hectares, which can be purchased by qualified legal persons.

The question of whether foreign enterprises and individuals are allowed to purchase agricultural land in Ukraine will be decided by a referendum. However, foreign enterprises and individuals are not allowed to purchase land within 50 km from the border with Ukraine.

Analysts said Ukraine's move was aimed at meeting the International Monetary Fund's loan requirements. Ukraine President Ze Lens Ki said novel coronavirus pneumonia, Ukraine needs at least 10 billion dollars of international aid to stabilize the economic situation.

IMF Managing Director Georgieva said earlier that progress had been made in negotiations with the Ukrainian government on a new aid loan plan, and that the amount of aid loan may be more than previously expected on the premise that Ukraine promotes reform related to land market and banking system.

In 2001, Ukraine began to impose a ban on the sale of agricultural land. Ukraine is rich in land resources, is one of the world's three major black soil distribution areas, with unique agricultural production conditions.

Source: China Environmental News